CRDA To Auction $15 Million Of Banked Atlantic City Real Estate

The Casino Reinvestment Development Authority is preparing to sell off some of its Atlantic City real estate holdings, according to documents filed on its website.

“The CRDA seeks an experienced professional firm to market and auction surplus real property owned by the Authority and no longer necessary for its operations,” says the request for proposal. The real estate to be auctioned off ranges from a half-block package in the Inlet with a valuation of $6 million, to a $300 non-buildable alley on North Massachusetts Ave.

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Straub’s Revel in Sights of Lessee TEN, Denver-Based Developer

Glenn Straub’s Polo North agreed to sell the casino property known as the Revel to a group of developers that had been leasing the property and trying to reopen it as TEN. The purchasing entity is backed by Bruce Deifik, founder and president of Denver-based developer Integrated Properties.

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Bungalow Park: The Daily Grind in the Shadow of a Dying Industry

From the steps of Patricia Harper’s Bungalow Park duplex you can look across the street through the gap in the houses and count three former casinos—the Revel, the Showboat, the Trump Taj Mahal—that were worth, not so long ago, well over $3 billion in total.

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Local Groups Come Together To Transform Former AC School Site

Two nonprofits, the Catholic church, a development company and a casino are all coming together to refurbish a former school in Atlantic City. It might sound like an odd alliance but transforming the former St Michael’s school into a useable space almost three decades after it closed is turning out to be a little tougher than expected.

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Op-Ed: Atlantic City and the American Dream 2.0

The emails and phone messages from Atlantic City native Reese Palley were punctuated with a sense of urgency for the city’s survival. His pitch was simple: reinvent the image of a summer resort, promoting second homes within financial reach of young families. Before Reese passed away in 2015, he advised the highest and best use for the city is recreation. We should forgo other industries; get rid of our high-tech ideas, “What are you going to do, screw it up a second time? Atlantic City has used up its God-given chances!”

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Gardner’s Basin, Costco, Dr Kauffman – Thursday’s Roundup

Gardner’s Basin
Atlantic City Council voted 5-4 after an hour’s long discussion to proceed with a lease-and-management plan for Gardner’s Basin, the city’s 11.6-acre public park that is home to the Atlantic City Aquarium and Gilchrist restaurant. The plan would hand over running of the site to local developer Scarborough Properties and allow them to add a new restaurant, a water taxi, mini golf and other facilities, Erin Serpico reports for The Press of Atlantic City. Costco
An existing Shop-Rite lawsuit against a Cherry Hill ordinance the supermarket chain says was tailored to open doors to Costco could void the recently-approved redevelopment plan that green lighted the warehouse store’s construction, Kevin Riordan reports for The Inquirer. Also – read Matt Skoufalos of NJPen on residents’ concerns about the project, which is set to be built (future legal challenges aside) on a site earmarked for a mixed residential-and-commercial and transit-focused development that would have given Cherry Hill the downtown it never had. Dr. Kauffman
A grand jury has indicted Dr. James Kauffman on weapons and obstruction charges after he pulled a gun when investigators came to his office with a search warrant, Lynda Cohen reports for BreakingAC.com.

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Paint Factory Cancer Suit, South Jersey Trolls, Opioid Abuse Treatment -Thursday’s Roundup

A federal class-action lawsuit alleges that several Camden-county residents developed cancer and other illnesses due to contamination from the Sherwin-William paint plant at Gibbsboro. The plant used toxic chemicals including lead, benzene and arsenic at several sites between 1930 and 1978, according to the suit.

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