Atlantic City's first and only polercoaster has been
approved by the Casino Reinvestment Development Authority.
Joshua Wallack of Wallack Holdings in August signed the
lease for a one-acre pad of land on the 18-acre site of the former Sands
Atlantic City casino-hotel. Wallack has plans of building a 350-foot
polercoaster and drop tower hybrid attraction in Atlantic City — a first for
the troubled Shore town.
The CRDA approved plans for the 52,000-square-foot
attraction Thursday, bringing the attraction one step closer to fruition.
"This is a one-of-a-kind attraction that will bring
another exciting non-gaming amenity to Atlantic City for our visitors and
residents to enjoy,” CRDA Executive Director John Palmieri said in a statement.
Additions planned for the attraction include a mojito bar
based on Wallack's Mango's Tropical Café in Florida, and live musical elements
and a number of nightlife attractions not seen in the video rendering.
Wallack said earlier the plan is to break ground early
next year, but maintained the polercoaster project is contingent on New Jersey
economic incentives like tax rebates.
Wallack is using the EB-5 financing program as a means to
partially fund the polercoaster attraction.
The Florida developer's Hollywood Plaza parking garage on
International Drive in Orlando also got the approval from Orange County's
Development Review Committee on Wednesday.
Wallack on Thursday opened a $40 million Mango's Tropical
Café in Orlando.
Source: Philadelphia
Business Journal
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