development briefs - Spring Atlantic City Atlantic County April - May - June

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1 Atlantic development briefs County Atlantic City - Spring Beach at Revel Casino Gets Renamed (April 2012) New signs around Atlantic City are directing visitors to Revel Beach. Officials with the Atlantic City Tourism District renamed a section of the beach near the Revel resort in the redevelopment agreement between the city and the state which was approved by City Council. The design of the Revel property makes full use of its surrounding environment which prominently features the beach and ocean. April - May - June Dante Hall to Reopen Under Stockton (April 2012) After being closed for nearly three years, Atlantic City s Dante Hall Theater for the Arts has entered into an operating agreement with Richard Stockton College. In 2003 the theater underwent a $3.5 million Casino Reinvestment Development Authority funded renovation. The theater was once a popular opera venue after it was built by members of St. Michael s parish in Garden Pier to be completed by Memorial Day (April 2012) The rebuilding of Atlantic City s Garden Pier located at New Jersey Avenue and the Boardwalk is on schedule and expected to be complete by Memorial Day. The pier is home to the Atlantic City Art Center and Atlantic City Historical Museum. The improvements include new decking, new and attractive landscaping and public space that can be used for special events such as weddings. The $3.5 million project includes $2.5 million from the CRDA, $750,000 from the city and $300,000 from the State Department of Environmental Protection. Absecon Lighthouse Park (April 2012) Over $6 million dollars will be spent in the next year transforming a six-block area of the South Inlet into a park centered on the Absecon Lighthouse. CRDA officials approved a measure that would allow the agency to enter into a $4.2 million agreement with Atlantic County officials. The county will receive the money from the state Green Acres Program. CRDA intends to invest $1.8 million in buying public and private properties in the six block area and would pay for the demolition of buildings and relocate residents currently living there. The goal is to make the neighborhood more accessible to pedestrians and cyclists. Officials Refinance Atlantic City Convention Center (April 2012) CRDA officials voted to refinance nearly $101 million owed on the Atlantic City Convention Center. Officials expect the deal to fetch a lower interest rate on the loans that funded the original construction of the Convention Center. This will be a major step toward the New Jersey Casino Reinvestment Authority taking over ownership of the $268 million facility. The bonds will be reissued at an expected rate of 3.8 percent as opposed to the current rate of 5 percent. Parade set for August 15 (April 2012) Atlantic City s second annual Salute to America s Armed Forces Parade will commence at 6:30 pm on Wednesday, August 15 th on the world famous boardwalk. Parade officials hope to have an air portion to the parade this year with the Geico Sky Writers flying overhead and write Welcome to Atlantic City s Parade. The parade will be divided into

2 three sections with military leaders first, then veterans and finally the fun stuff. The Circus Comes to Town (April 2012) Aerialists, gymnasts, animal acts and other attractions filled a two hour program at Atlantic City s Boardwalk Hall. The Ringling Bros. and Barnum & Bailey circus returned to Atlantic City after a five year absence. The circus brought in an entirely new production called the Barnum Bash and will run for four days. AC Bans Smoking at Recreational Areas (April 2012) Atlantic City Council banned smoking from public recreational facilities. Expansion of the city s smoke free zone will include sports fields, courts and public parks but not the Boardwalk. The ban currently applies to amphitheaters, seating areas, bleachers and outdoor stadiums and 75 percent of casino floors. This makes Atlantic City the first city in what health workers hope will be a series of South Jersey towns to tighten restrictions on outdoor smoking. New Ambassador Program (May 2012) Atlantic City Boardwalk Ambassadors will have a new uninform, additional members and an expanded territory. The staff of the $1.6 million program will grow from 22 to 60 members. Ambassadors will add Atlantic and Pacific Avenues as well as Gardner s Basin to their rounds in addition to the Boardwalk. Their new outfits will consist of neon-colored jackets, dark green striped pants and round brimmed hats. Boardwalk Ambassadors must receive first aid certification and attend 80 hours of security training. Atlantic City Gets Supermarket (May 2012) The Save-A-Lot supermarket chain confirmed they will be opening their new location at 9 a.m. on May 17th at Renaissance Plaza located at Kentucky and Atlantic Avenues in Atlantic City. About 25% of the markets inventory will consist of national brand products at a slightly reduced cost. The other 75% of the items will be the chains own brand. The 40,000 square foot location will be the first major market in six-years. Steel Pier Debuts $21 Million Makeover (May 2012) New owners of the Steel Pier will open this weekend to unveil their $21 million makeover project. The historic pier will feature eight new rides including the Freedom Flyer and Seamour the Friendly Octopus. This is the first phase of a $100 million dollar makeover that will eventually transform the pier into an enclosed year-round entertainment complex by Hotel and Water Park Planned in Marina District (May 2012) Developers announced plans to build a $123 million dollar project consisting of a 31 story, 183- room hotel and indoor water park located in Atlantic City s Marina District. The water park will feature 45,000 square feet of indoor space with a retractable roof and 4.5 acres of outdoor space. The hotel itself will be built to look like a ship s sail and parking will be available for 1000 cars. The Diving Horse Resort and Water Park will operate year-round and will be located on Huron Avenue across from the Borgata Spa and Casino. The project is expected to be completed by spring 2014 and will create 400 permanent jobs. Phillies Game on AC Beach (May 2012) The Atlantic City Alliance will sponsor a broadcast of the Phillies game against the Mets on a giant screen (20 x 15 feet) at the Atlantic City Arkansas Avenue beach over Memorial Day weekend. The idea is to keep visitors here a little longer or draw people here from other shore towns. The effort is part of the Atlantic City Alliance s short term entertainment plan. Atlantic City Multicultural Festival (June 2012) Visitors and residents alike enjoyed Atlantic City s Multicultural Festival held during the first weekend in June. The festival included a free waterside concert at Gardner s Basin, All-Star Boxing Legends Gala and Dinner at Resorts Casino Hotel, a boardwalk parade, a Gospel Fest at Sandcastle Stadium, Boardwalk Bazaar and jazz concerts held at Garden Pier and Kennedy Plaza.

3 Boardwalk Hall to get Video, Light Show (June 2012) A theatrical 3 D video and light show is in the works and starting this summer will be projected each evening on the facade of Boardwalk Hall. The permanent installation is being done by Moment Factory, a Montreal based media and entertainment company. The show will be free and will celebrate the history of Boardwalk Hall. The show will make its debut on the Fourth of July. Additional displays will be planned for other areas of the Boardwalk. $50 Million Dollar South Inlet Project (June 2012) The New Jersey Economic Development Authority approved an agreement that could provide as much as $50 million in loans for a project that will transform the South Inlet area around the Revel resort into housing, shops and restaurants. The Casino Reinvestment Development Authority would acquire a five block area bordered by Connecticut, Rhode Island, Oriental and Pacific Avenues. Redevelopment of the South Inlet is outlined in the Tourism District Master Plan. Caesars wants Boxing at Bader (June 2012) Executives at Caesars Entertainment feel that Bader Field would be the perfect venue to host a major boxing fight. Since the renovation of Boardwalk Hall in 1998 the capacity of the hall was reduced to 12,500. A major boxing event would draw over 20,000 fans and Bader Field which will be hosting a pair of outdoor concerts this month would be the ideal location in town. Cordish Promises Special Project (June 2012) Cordish is planning to move forward with the fourth phase of expansion on The Walk, the popular Atlantic City shopping and entertainment district that has transformed an area of town into a popular tourist destination. The project will be called Atlantic City Live! and will feature an outdoor entertainment venue. Cordish is also pursuing another project, perhaps a Casino and company officials say it will be something very, very special and will be a game changer for Atlantic City. Education and Health Projects in AC (June 2012) Reliance Medical Group, located in Pleasantville applied for a $2.3 million loan from the Casino Reinvestment Development Authority to lease 24,000 square feet of space in the Sun National Bank building located on Atlantic Avenue. The group plans to open corporate and clinical offices, a diagnostic center, a laboratory and urgent care services. Also planned for the site are classroom and lab space for a physician assistant program offered by Philadelphia University through the Richard Stockton College of New Jersey. Basketball Tournament at Boardwalk Hall (June 2012) The Casino Reinvestment Development Authority authorized their Executive Director to negotiate an agreement with the City of Atlantic City for the amount of $166,000 to bring a competitive basketball tournament to Boardwalk Hall in December. The tournament would consist of teams from historically black colleges and universities and is expected to draw between 6,000 to 8,000 people. Arts District Moves Forward (June 2012) CRDA plans to negotiate an agreement with Richard Stockton State College and its Noyes Museum of Art based in Galloway Township to lease 16,300 square feet of space on the first floor in The Wave parking garage located on Mississippi Avenue. The project will feature an art gallery and a café. Revel may have Beach Bar (June 2012) The New Jersey Senate passed a bill that would permit the Revel casino to build a beach bar in front of the resort. The bill will now go to the Assembly but will likely not be approved until the fall when the Legislature reconvenes. AC Outdoor Concerts Successful (June 2012) Back to back concerts held at Bader Field were held without any major complications. The crowds were estimated at over 20,000 for Phish and 32,000 for the Orion Music Festival. Atlantic City officials are confident they can now handle future concerts

4 Atlantic City Boardwalk Improvements (June 2012) New lights along the Atlantic City Boardwalk will help to make it brighter and safer. The new lights have been installed from New Jersey to Albany Avenues. Another set of lights is scheduled to be installed from Roosevelt Place to Jackson Avenue. In a third phase, new lights will be installed north of Rhode Island Avenue. Additional improvements include 15 showers along the Boardwalk near Beach Patrol and comfort stations and 300 new trash receptacles. Plans include adding 100 new trash receptacles every two week for a total of 900 receptacles by September 30. Near the boardwalk plans are in the works to development to transfer 10 vacant lots into small parks. Starting on July 4 th, a yearround 3-D light show will be projected onto Boardwalk Hall and is expected to be the only permanent 3-D show in the country. Resorts Casino may rebuild Steeplechase Pier (June 2012) Resorts Casino Hotel has applied to the state for an environment permit to rebuild the Steeplechase Pier formerly located directly across from Resorts between North Carolina and Pennsylvania Avenues. The pier was destroyed in a 1988 fire and was demolished in Resorts is in talks with the Jimmy Buffett s Margaritaville Restaurant chain to construct a $6 million dollar project which would be called Margaritaville Landshark Bar & Grill in the footprint of the former pier. The project could also include a surf shop and is expected to take a year to complete. Casinos Revel has Soft Opening (April 2012) After a turbulent five year development cycle, Revel Casino opened with a sunrise toast consisting of blueberry smoothies to an early morning crowd that gathered in the casino s Sky Garden. The resort is being called a game changer for the casino industry in Atlantic City, one that would entice an audience that might not have visited here otherwise. The design of the 6.2-million-square foot megaresort embraces the beach and ocean with stunning views throughout the property. It is being called a lifestyle resort first and a casino second and is Atlantic City s first smoke free casino. Shortly after the sunrise toast, hundreds of people came through the doors to marvel at the brand new surroundings of the city s first new casino in nine years. Customers will gradually see more and more attractions as Revel builds up to the formal grand opening which will take place over Memorial Day weekend headlined by superstar Beyonce, who will perform three shows in the casino s 5,000 seat Ovation Hall. Hollywood Comes to Bally s (April 2012) Bally s Atlantic City Casino will be partnering with Legends in Concert, a live musical show that features celebrity impersonators. The Bally s name will remain on the building but parts of the casino will take on a Legends theme including the décor, memorabilia from the show and a special party pit area where the employees will dress up like celebrities to deal the card games. Golden Nugget Refurbished (April 2012) Former Trump Marina Casino has been transformed with a $150 million makeover. The casino floor has been completely redone, including new décor, table games, shot machines and a plush poker room. There are also remodeled upscale restaurants, retail shops, lounges and a $6.5 million spa. All 730 guest rooms were also refurbished which give parts of the hotel a retro-chic appearance. Revel is Different from Other Properties (April 2012) From the moment guests check in, they can see that Revel is different than other Atlantic City casinos. The parking garage features digital signs indicating how many spaces are available on each floor, which minimizes the time spent searching for a parking spot. The hotel lobby is located on the 11 th floor, five floors above the casino as opposed to

5 other casino hotels that have the lobby and casino usually on the same level. Large glass windows offer spectacular views of the beach and ocean and a Sky Garden features over 2 acres of outdoor space with seating areas and fire pits. Borgata Profits Up (April 2012) Borgata Hotel Casino and Spa reported strong earnings in the first quarter. Net revenues were up 4 percent to $176.2 million and gross operating profits are up almost 23 percent to $38.9 million compared to the first quarter of These results marked the second straight quarter of double digit gains in operating profits. Casinos Renovate to Create View of Beach, Boardwalk (May 2012) Trump Taj Mahal will start a renovation project this month to change the boardwalk façade and add outdoor seating for its restaurants. The Casino Reinvestment Development Authority approved more than $9 million for two projects to improve casino s façades facing the beach and Boardwalk. Trump Taj Mahal will receive $6.9 million dollars for their renovation and Resorts Casino Hotel will receive $2.3 million for a similar future renovation. Both projects are expected to provide expanded views of the ocean, beach and Boardwalk. Nickelback, Def Leppard, Poison to headline at Revel (May 2012) There will be an entire weekend of rock at Revel Casino and Resort featuring Nickelback, Def Leppard and Poison all to headline at Ovation Hall. Nickelback will play at 8 p.m. on Friday July 13. Def Leppard and Poison will perform on Saturday, July 14. Fourth Show added for Beyonce at Revel (May 2012) Beyonce has added a fourth show to her appearance at Revel s Ovation Hall on Memorial Day Weekend. The fourth show will take place on Monday, May 28 at 8 p.m. The original three shows are still in place for Friday, Saturday and Sunday on Memorial Day Weekend, however, the first three shows were not enough to accommodate the pop megastar s fans base. Gold in Atlantic City (May 2012) Guests and visitors to Atlantic City s Golden Nugget Casino are now able to purchase Gold to Go. A machine similar to an ATM dispenses silver and gold coins and trinkets instead of cash. The machine debuted at Golden Nuggets grand opening ceremony to celebrate the completion of a $150 million renovation project. The machine is located off the casino floor in Golden Nugget s atrium. $25 Million Renovation at Tropicana (May 2012) Tropicana Casino and Resort announced plans for a $25 million renovation project. The project will consist of upgrades to hotel rooms and the casino floor and remodeling 16 floors in the North Tower which includes 437 rooms and junior suites. The casino floor will feature 150 new slot machines and plans also include a new gourmet Italian restaurant. Construction is expected to start after Labor Day weekend. Revel Unveils Light and Sound Show (May 2012) A light and sound show called Sonic Fireflies can now be enjoyed at Revel s OceanSide walkway on the Reverly floor overlooking the ocean. As guests walk along they will hear a series of environmental sounds including chirping seagulls and breaking ocean waves. By walking under a series of 64 electronic fireflies located in the ceiling, guests will trigger sounds of flutes, drums and marimbas accompanied by the flash of colored lights. Casino Profits Up 17% (May 2012) Casino earnings are up 17% in the first quarter with increases in higher hotel occupancy and nongaming revenue. Atlantic City s 11 casinos posted combined gross operating profits of $114.4 million compared with $98 million in the same quarter last year. First quarter figures do not include Revel s financial results as the resort did not open until April 2.

6 Security Upgrades at Taj Mahal (June 2012) Trump Taj Mahal is spending $5 million upgrading security in its parking garage and casino. New cameras are being installed on the casino floor and parking garage and other parts of the boardwalk to enhance safety. The former analog surveillance cameras will be upgraded to digital technology which will provide sharper images and better quality surveillance video. Transportation Traffic Flows Smoothly as Revel Opens (April 2012) Traffic flowed smoothly in Atlantic City on the opening day of the new Revel Casino. Revel was the beneficiary of a $42 million South Inlet Transportation Improvement Project which resulted in a wide entrance boulevard for Revel patrons. The new entrance to the casino will be Connecticut Avenue but will unofficially be called Revel Boulevard. The roadway project was overseen by the Casino Reinvestment Development Authority and was underwritten by the South Jersey Transportation Authority. A third of the funds came from the New Jersey Department of Transportation. It is estimated that the road will be able to handle 10,000 drivers per day. High Airfares Good for Tourism (April 2012) Airlines have raised prices three times in 2012 and the average airfare has risen form $307 in 2005 to $362 in 2011 according to the Federal Bureau of Transportation Statistics. Experts predict this could be good for tourism this summer in southern New Jersey. It could have a positive effect as families look for closer vacation spots because if want to fly to a destination, the individual cost per family member starts to add up. The Jersey shore can be reached by a third of the U.S. population with one tankful of gas. Atlantic City Jitneys to Test New Route (April 2012) For the next two months Atlantic City Jitneys will be testing a new route to accommodate the newly open Revel Casino. The route added two stops on Oriental Avenue, one at Connecticut Avenue for guests and one at New Jersey Avenue for hotel employees. After 60 days representatives from local government, the Jitney Association and Revel will evaluate the results. If no changes are necessary, Atlantic City Council will vote to approve the new route. Air Traffic Up 11% at ACY (April 2012) The number of passengers traveling through Atlantic City International Airport increased over 11 percent in March 2012 compared to March of the prior year. Nearly 122,600 people used the airport in March 2012, more than any previous March on record. Toll-free Galloway Parkway Exits (June 2012) Confirmation from the New Jersey Turnpike Authority was sent to state legislators in the 9 th District that no tolls will be installed in the improvement project at the Galloway Township exits on the Garden State Parkway. AC International Airport Road (June 2012) The South Jersey Transportation Authority has applied for State permits to build an airport road. The road would connect the Atlantic City and Amelia Earhart Boulevard. The new road is expected to alleviate congestion at the reconfigured Airport Circle in Egg Harbor Township. The plan is to have the permits in place and have the project shovel ready so the project can immediately move forward when funding can be secured.

7 Tourism Do AC (April 2012) The phrase Do AC will be the theme for a new $20 million publicity campaign to draw more visitors to Atlantic City. The campaign includes print ads, billboards, TV commercials and radio spots and was developed by Euro RSCG Worldwide, a global advertising firm for the Atlantic City Alliance. The marketing campaign budget will increase to $30 million annually for the next four years. ACCVA Approves Contracts for Visitors Guides (April 2012) The Atlantic City Convention and Visitors Authority approved a $115,000 contract to print visitors guides and maps for Atlantic City. The contract was awarded to Quality Concepts of Morrestown, NJ. The ACCVA plans to sell ad space in the guides to help defer the cost. To date, $110,000 in ad space has been sold. South Jersey Wine Growers Hope to Create a Tourist Destination (May 2012) A law that recently took effect will allow the local wine industry to expand because it loosened the restrictions on how wineries can sell products. Vinters can now ship directly to consumers and open as many as 15 retail outlets in the state. At least three new wineries have been licensed in South Jersey New Jersey now has more than 50 wineries and many more are planned. Casino Conference in Atlantic City (May 2012) The East Coast Gaming Conference will take place at the new Revel resort. Liza Cartmell, chief executive officer of the Atlantic City Alliance will start the event with keynote remarks. Two panel discussions on tourism will follow. The conference will run for two days. Profitable Memorial Day Weekend (June 2012) Heavy traffic volumes, hot temperatures and busy beaches proved to be a successful Memorial Day weekend at the shore. Traffic on the Atlantic City Expressway Pleasantville toll plaza was up about 4 percent compared with numbers from the same holiday weekend last year. The Atlantic City Sheraton Hotel near the convention center was among several hospitality establishments that were sold out. Resorts Casino also reported an increase in room revenue of more than 50 percent from last year. DO AC Campaign Shows Results (June 2012) Although gaming revenue has dropped in Atlantic City, the Atlantic City Visitors and Convention Authority is seeing double digit gains in guests to its visitor centers and more than 30% increase in phone calls from those interested in coming to the resort. Overall numbers are up as more people are coming to Atlantic City for restaurants and other nongaming activities. The ACCVA website had more than 4000,000 unique hits in May and 40,000 facebook likes which is a 54% increase from the same time last year. Convention numbers are also up from last year and future bookings are up significantly.

8 Construction Area Home Sales up in March In Atlantic County, shore communities such as Margate and Brigantine posted large volume increases as home re-sales throughout the county grew 9 percent to 214 in March. The boost comes at a time when sales are still declining nationally according to Realtor sales figures from local agents. Data shows the buyers are not investors but are buying these homes for themselves to meet a vacation need or a retirement plan. Village at St. Peter s Dedicated (April 2012) The Village at St. Peter s, a senior citizen housing complex located on the Black Horse Pike in Pleasantville has been officially dedicated. The $18.4 million complex sits on the site of the former St. Peter Catholic Church convent. All 74 of the units have been leased and there is currently a waiting list of 75 applicants awaiting placement. Most of the tenants of the complex pay about 30 percent of their total income usually between $200 to $250 per month. The sixstory, 14,000 square foot complex was funded through both public and private sources including $10 million from the U.S. Department of Housing and Urban Development. EHT Approves Affordable Housing at 20% (June 2012) Egg Harbor Township Committee approved amendments to its zoning and affordable housing regulations. One of the three ordinances amended that new developers set aside 20% of their units for low and moderate income housing. Developers must also purchase Pinelands Development Credits which will be used by the Pinelands Committee to redirect growth away from preservation districts by subsidizing landowners in those districts. Egg Harbor Township forms Park Development Committee (June 2012) An eight person committee has been formed and will decide what to do with 260 acres of land in the Scullville section of the township. Officials will consider turning the 260 acre parcel which is adjacent to the EHT Arboretum into a park which would be enjoyed by residents. Education ACCC Expansion (May 2012) A groundbreaking ceremony was held for a $10 million dollar expansion at the Atlantic Cape Community College Atlantic City campus. The Caesars Entertainment Wing for Hospitality and Gaming Studies will be housed in a new 20,000 square foot wing located at Arctic and Kentucky avenues. The new addition will provide training to entry-level and midlevel restaurant and hospitality workers and is expected to open by spring Caesars Entertainment will provide $5 million dollars of financing and the remainder of the funding will be provided by the Casino Reinvestment Development Authority.