Closing on the Center Circle property could come as early as this month, eventually making way for a five-story development on the Main Street site that received approval early this year.

Executive Director Leonard Bier told commissioners during the Redevelopment Agency’s Nov. 1 meeting that developers are looking to close on the property this month and awaiting various approvals. All environmental remediation has been done under the facilities two athletic bubbles, he added.

The 3.5-acre property at 1255 Main St. (Block 305, Lot 5.02) currently houses two indoor athletic facilities called Center Circle, which is closing after almost two decades in operation. The Center Circle will host a “giant garage sale” on Dec. 2 featuring “19 years of awesome stuff” for sale.

AST Development received Planning Board approval in January to build a 219-unit complex. The Lavallette-based real estate development and investment firm also partnered with Heartstone Development and Sterling Properties to construct the 116-unit Metro Rahway at the former A&M Industrial Supply site on Campbell Street, which opened three years ago.

Designed by Lambertville-based Minno and Wasko Architects and Planners, the five-story Center Circle project will be comprised of 116 one-bedrooms (52 percent), 78 two-bedrooms (36 percent) and 25 studios (11 percent). There are 274 parking spaces planned, including 196 ground-floor spaces and 78 surface spaces.

The Center Circle site currently is assessed for $1.2 million, yielding an overall property tax bill of about $81,204 for 2017, according to property records.

Previous concept plans presented never materialized but the plan has always been to develop the Center Circle property, which had been on the market for several years. The first concept plan was presented by AST Development four years ago, proposing three, five-story buildings that would have a total of 248 units. A revised plan was brought forth in December 2014 by Heartstone Development that would have erected one 250-unit building but that plan also never came to fruition.