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New York & Tri-State  + New Jersey  + Hospitality  | 

Phased Development Will Add Mixed-Use Adjacent to Monmouth Park Racetrack

 Morris Bailey, chairman of JEMB Realty as well as Resorts Casino in Atlantic City, has begun the design and development process on a phased mixed-use community on 80 acres adjacent to Monmouth Park Racetrack in Oceanport, NJ. Plans call for apartments, a 200-key hotel, retail, entertainment and youth sports facilities.

The first phase of the $200-million project, to be developed in partnership with the State of New Jersey and Dennis Drazin’s Darby Development LLC, is slated to break ground in the fourth quarter of 2025.

“We are embarking on the next phase of a journey that began over a decade ago when we developed plans to reimagine and reinvent the Monmouth Park experience that has brought so much joy to generations of horse racing enthusiasts,” said Bailey. “After an intensive, complex, and lengthy process, our plans will create a vibrant lifestyle destination for future generations and will put the racetrack on a trajectory for enormous growth.”

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JEMB Realty's Bailey

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development