Three Big Projects That Will Change Freehold

Updated: July 1, 2026

I have been told that our information is false and that were sending “fake news”.

I want to state that I do my best to find the information needed to back up what I write on this website. Do I make mistakes? Absolutely – and I will amend any facts that I find to be truly incorrect. Currently, I stand by everything written here.

Here is what was written in response to our post on our Facebook page on this topic regarding data centers – and Hometown Redevelopment plan, which we have correctly as noted to be exclusive to downtown:

And here is a post from the Borough of Freehold page.

Steve Gallo is clearly stating that no data centers will be built. Below is a June 10, 2026 meeting minutes document that has mentions of a data center – meaning it is not off the table yet. The residents of Freehold should know what is happening in their town – and that is all I am trying to do.

If anyone can provide factual documentation – which I have been asking for – about there NOT being any data centers planned, I would love to see and share those and amend this post.

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Three major redevelopment projects are moving forward right now in Freehold, NJ, and together, they’re going to reshape the town in ways we haven’t seen since the post-war housing boom built most of the neighborhoods we know today.

Here’s a straightforward look at each one — where it came from, and where it’s headed.

The Freehold Raceway Site

The Raceway was the oldest racetrack in the United States. Harness racing on that site dates back to the 1830s, with the Monmouth County Agricultural Society formalizing things in 1853. For over 170 years, the track at 130 Park Avenue was a fixture of Central Jersey life. It survived a fire that destroyed its grandstand in 1984. It hosted some of harness racing’s biggest names and biggest moments. Even Bruce Springsteen grew up in its shadow.

But attendance and interest in harness racing had been declining for years. The last race ran on December 28, 2024, with over a thousand spectators showing up to say goodbye.

In June 2025, a development group called Raceway RE Partners, led by Jake Lebowitz, acquired the 58-acre property.

What is being proposed is a mixed-use destination – think luxury boutique hotel, a private social club, chef-driven restaurants, and high-end retail. The design concept leans into walkability and family-friendly programming, with nods to the site’s equestrian past woven into the overall look and feel. There’s also been early talk of an entertainment and sports complex, though that part is still very preliminary. This is FACTS from the press release, not fake news.

As of early 2026, the Borough’s Planning Board has been formally authorized to investigate whether the site qualifies for official redevelopment designation. There are some hurdles to tackle first. The site needs environmental cleanup from years of vehicle storage and potential petroleum contamination. Its proximity to Old Bridge Airport means the FAA limits how tall buildings can be.

These aren’t dealbreakers, but they do mean this project will take years to complete.

The Nestle Plant Site

The Nestle coffee factory on Jerseyville Avenue opened in 1948 and operated for 75 years. If you ever drove through the area, you probably remember the smell – that warm, unmistakable aroma of coffee roasting that drifted for blocks on rainy days. Springsteen even mentioned it when talking about growing up in Freehold.

At its peak, the plant employed hundreds of workers. It was one of Freehold’s biggest taxpayers, contributing about $600,000 a year in property taxes and over $25 million in ratables. But the facility was aging, and Nestle decided the cost of modernizing it didn’t make financial sense, especially after investing $340 million in a new factory in Mexico. The plant closed in November 2023, and the impact on the community — both economically and emotionally — was significant.

Today, the roughly 26.8 acres of vacant industrial land sit in the middle of an active and contentious debate. In early 2026, Freehold Township formally adopted an amended redevelopment plan for the site, establishing zoning requirements and design standards. But the big question remains unresolved: What goes there?

A potential proposal is a data center, as noted in several Freehold Borough Planning Board meeting minutes – but other opportunities are also being considered including manufacturing and housing.

On paper, data centers make a lot of sense for municipalities. They reuse existing heavy-duty industrial buildings. They generate strong tax revenue. They create almost no truck traffic. They put very little strain on schools or local services.

The pushback, however, is real. Data centers consume enormous amounts of water for cooling, and Freehold’s utility infrastructure wasn’t built for that kind of demand. The electrical draw is similarly extreme. And the job creation issue is the political sticking point — a data center on a site that once employed hundreds of people might only require a small handful of engineers and security staff. For a working-class community with a manufacturing heritage, that’s a tough pill to swallow.

Township officials are pushing any prospective developer to commit to major investments in noise reduction, environmental management, and utility upgrades as conditions of approval. Whether a developer can meet all those conditions and still make the numbers work is the open question.

The Hometown Redevelopment

The Hometown Redevelopment isn’t about a single iconic property — it’s about stitching together several underused and blighted parcels in downtown Freehold Borough to create something cohesive and new.

What makes this project so complex is the process itself. It’s called urban assembly, and it’s one of the hardest things to pull off in New Jersey real estate. You’re buying adjacent parcels from different owners, relocating existing businesses, transferring municipal property, and in this case, physically moving a functioning firehouse — all in a carefully coordinated sequence that has to keep the Borough running and hold up legally at every step.

Freehold Borough’s downtown has always been its calling card. The walkable streets, the historic character, the independent shops and restaurants. But some blocks have languished, with vacant or underutilized lots dragging down the areas around them. The Borough began formally studying these parcels back in 2021, and by early 2023 the Planning Board was reviewing the first phase of a redevelopment plan focused on Block 35 in the downtown core.

After a competitive process that drew proposals from nine qualified developers, the Borough selected Capodagli Property Company out of Linden, NJ. Mayor Kane announced the conditional redeveloper’s agreement in early 2024, and the project has moved forward with unusual political consensus – Borough council votes at each stage have been unanimous, running 6-0 and 7-0.

The Borough has been deliberate about building buy-in at every step, including setting up a Relocation Assistance Program to support businesses displaced by the assembly process.

Capodagli was chosen in large part for their track record of actually completing projects and their willingness to preserve the Borough’s historic character. They’ve agreed to integrate several of the existing historic buildings into the final design as adaptive reuse rather than tearing everything down and starting from scratch.

The plan calls for up to 400 residential units, with 60 set aside as affordable housing. The target mix is roughly 40 percent one-bedroom and 60 percent two-bedroom units, with amenities geared toward both young professionals and empty-nesters who want to stay in the community without the obligations of homeownership. Think fitness center, pool, EV charging, and a required public courtyard of at least 7,500 square feet. All architecture must complement Freehold’s historic downtown character, with requirements for step-backs, thoughtful facade treatments, and varied roof lines.

As of late 2025, Capodagli was still assembling the necessary properties, with three parcels still needed before the project can move to the Planning Board. Geotechnical studies are underway.

Two related projects in the same downtown corridor are advancing at the same time. The 500 Park Avenue development is a transit-oriented, mixed-use project designed around existing transit infrastructure. Victory Court is a townhome development that includes a 20 percent affordable housing component, built in a style that fits the historic character of the surrounding streets.

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