Monmouth Mall in Eatontown is being transformed into Monmouth Square — an open-air town center concept where traditional enclosed mall retail is being cut by 40% in favor of luxury apartments, a Whole Foods anchor, and a redesigned outdoor experience. Demolition and construction are underway, and the shift marks one of the most significant retail-to-mixed-use conversions in New Jersey in recent years.
What’s Being Built: The Monmouth Square Concept
The Monmouth Square redevelopment is built around three core elements. First, the enclosed mall footprint is being significantly reduced — by approximately 40% — to make room for new construction. Second, luxury residential apartments are being added to create a live-work-shop neighborhood on the site. Third, and most symbolically, Whole Foods is coming in as a primary anchor tenant.
The Whole Foods choice is deliberate and strategic. Grocery anchors generate far more frequent visits than fashion retailers — shoppers who come in weekly for groceries also browse the neighboring stores, dine in the restaurants, and become familiar with the destination. Additionally, Whole Foods signals a specific demographic target: the affluent, health-conscious consumer who lives or works in the Monmouth County area.
Why Monmouth Mall Needed to Change
Monmouth Mall had been struggling for several years before the redevelopment was announced. The complex lost key anchor tenants and saw declining foot traffic as shoppers shifted to online purchasing and to higher-performing destinations like Freehold Raceway Mall and the Jersey Shore Premium Outlets in nearby Tinton Falls.
The challenge Monmouth Mall faced isn’t unique. Across the United States, second-generation enclosed malls built in the 1970s and 1980s are grappling with the same issues: anchor tenant losses, demographic shifts, and the structural disadvantage of an enclosed format in an era that increasingly values open-air, outdoor-oriented retail environments. The Monmouth Square conversion is a direct response to all three pressures.
Open-Air: The New Template for NJ Mall Redevelopment
Monmouth Square is part of a clear trend in New Jersey mall redevelopment. Garden State Plaza in Paramus is adding an outdoor “main street” district alongside its existing enclosed mall. East Brunswick Mall has converted to an open-air format. Livingston Mall is undergoing major changes. The pattern is consistent: owners are either reducing enclosed space, opening it up, or adding complementary outdoor components.
Furthermore, the addition of residential units ties the destination to its community in a way that traditional malls never achieved. Residents of the Monmouth Square apartments will walk downstairs to Whole Foods, grab coffee at a restaurant, and browse the remaining retail stores — generating the kind of everyday, habitual foot traffic that fashion-only retail can’t sustain on its own.
What Jersey Shore Shoppers Should Know
For shoppers in the Monmouth County area, the transition period will require some adjustment. The full Monmouth Square development won’t be complete for some time, and the interim period will see a reduced retail offering as construction progresses. In the meantime, the two strongest alternatives in the area are Freehold Raceway Mall (200+ stores, 20 minutes north) and Jersey Shore Premium Outlets in Tinton Falls (120+ outlet stores, just a few miles south).
Pro tip: Jersey Shore Premium Outlets benefits from the same zero sales tax on clothing and footwear that applies statewide in New Jersey. Combined with outlet pricing up to 65% off retail, it’s one of the most cost-effective shopping destinations on the Jersey Shore. We’ll continue to update this page as the Monmouth Square construction timeline becomes clearer.
Source: NJ.com — Monmouth Square Eatontown redevelopment, 2025.
