A huge portion of vacant land surrounding the former
Revel casino in Atlantic City can now be filled with mixed-use residential
properties following the Casino Reinvestment Development Authority's approval
of a new master plan for the battered Shore resort town.
The change is meant to spur development in Atlantic City,
which has seen an uptick in investment in recent months.
The land had previously been designated strictly casino
commercial, and the CRDA's approval relaxes zoning to allow for mixed-use
residential projects in the city's Tourism District in the South Inlet, Lance Landgraf, of the CRDA, told Philly.com.
It still will require a minimum density for a developer,
Landgraf said, so a person who decides Atlantic City is the spot to build a
dream beach house will have to find a spot elsewhere in the city, despite the
acres of vacant land.
A historic entertainment district along Kentucky Avenue
is also part of the new master plan, Philly.com said, which aims to draw more
music-oriented businesses to the corridor with a change in land-use
regulations.
The defunct Revel casino, now known as Ten, sits between
parcels owned by the CRDA that had been designated strictly casino commercial
prior to the new plan.
Owned by Florida developer Glenn Straub, the massive boardwalk property has
hit tons of snags as it strides towards an opening.
Source: Philadelphia
Business Journal
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