A private investment firm reportedly has offered $225 million to buy the shuttered Revel casino in Atlantic City, although the property’s current owner says no such offer has been made.
Hospitality & Tourism
Whether it’s the proximity to New York City or all of the tourist attractions that New Jersey has to offer, the Garden State’s hospitality industry is booming. Hotels are increasingly becoming part of major redevelopment projects.
Atlantic City 3.0: Riding high from new investment, the iconic resort town is charting a new future
For a place that has been promised a comeback in recent years — only to see it never materialize — experts say Atlantic City is in uncharted yet promising territory that could help usher in a long-awaited recovery. Land prices are at their lowest in decades, local and regional developers with proven track records are investing in the city and the first credible nongaming project in years is under construction, with the potential to bring thousands of students and professionals to the Boardwalk as soon as next year.
At long last: Beachfront, downtown projects move ahead in Jersey Shore town
More than a decade after the debut of the landmark, mixed-use Pier Village complex, Long Branch has other developments under construction or in the pipeline along its oceanfront, including new luxury condominiums. And along Lower Broadway, a developer is in the midst of demolishing dozens of blighted properties, following the resolution of what had been a fierce legal battle over back taxes and entitlements. The demolition is now clearing the way for a mixed-use project that could begin to transform the downtown as soon as next year.
