Philadelphia
developer Bart Blatstein continues to put money behind his
view that Atlantic City is poised for an upswing, reportedly spending $6
million on several properties adjacent to his Showboat hotel.
The
purchase includes roughly three acres that sit between the Showboat, which he
bought for $23 million last year, and the Glenn Straub-owned and shuttered TEN, formerly
called Revel, according to the Press of Atlantic City.
The
land was purchased in an auction last year, the Press of A.C. said.
Along
with those lots, Blatstein now controls a former volleyball court on New Jersey
Avenue and the Garden Pier, where his Tower Investments previously pitched
putting an entertainment complex.
This
time around, however, the developer shared few details about his plans.
“I’m
not going to disclose what I’m going to do with them, but this is our continued
confidence in the rebirth of Atlantic City and I’m thrilled to be part of it,”
Blatstein said.
Plans
for the land that's adjacent to Showboat could boost amenities at the boardwalk
property, which he reopened as a non-casino hotel last summer. Blatstein told the Associated Press
the land will allow for development of an "outdoor element."
He
also owns the Playground Pier in Atlantic City, a shopping destination that
replaced the Pier Shops at Caesars.
Source: Philadelphia
Business Journal
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