Is Netflix still building film studios in New Jersey?

After rumors and consideration, Netflix was announced as the buyer of a large piece of land at a former military installation in Monmouth County — almost two years ago.

The Fort Monmouth redevelopment has been slow-moving since the site was decommissioned in 2011— so the big deal for nearly 300 acres in Oceanport and Eatontown was welcome news for many (with a smaller group of critics).

With the $55 million announced purchase comes layers and layers of paperwork.

Municipal officials and the county planning board needed to sign off on each of the streaming giant's phases of desired work.

A spokesman for Netflix said as of September, they were still going through the entitlements process.

There was a notable milestone a few months ago, further cementing the future of the company in New Jersey.

Netflix was dubbed a studio partner by the New Jersey Economic Development Authority Board.

The designation announced in May allows the media company to access expanded benefits under the state’s Film and Digital Media Tax Credit program.

That means potential eligibility for a 40% base tax credit for qualified production expenses on future New Jersey film projects.

In exchange, Netflix commits to staying active at a New Jersey film production facility for at least 10 years.

RELATED: Netflix unveils NJ plan for $848M studio

There has been movement on the massive property itself, too.

Netflix was beginning to clear out the shuttered Vail Hall, which was slated for reuse, according to an agenda for the FMERA Board meeting in August.

The old building was among nine development zones within the Netflix mega-parcel that will be transformed to include 12 sound stages.

While the developer has been ahead of schedule, the approval period is 36 months and "substantial administrative work" still needs to be completed, the same agenda said.

Netflix’s total capital investment for the New Jersey property has been estimated at $848 million, the large bulk of which will be spent during phase one of development.

Additional improvements could still include office space, production services buildings, mill space and studio backlots, among other industry needs.