SJ Towns: AC`s Face Lift

Atlantic City, one of the state's most popular cities, is in for a face-lift to help boost its image and its income. Governor McGreevey has unveiled his broad-based plan that is designed to make Atlantic City a premier family resort destination, one that rivals Las Vegas.

The plan includes streamlining casino regulations, building new retail attractions, improving transportation, and beautifying the Boardwalk area.

“These are exciting times for Atlantic City, the State, and the casino industry,” McGreevey said. “Over the next two years, we expect to see nearly $2 billion in new investment in Atlantic City.

“We are making smart, targeted investments that are leveraging hundreds of millions of dollars in private investment that will allow the State to act as an economic engine in this city,” he said.

The Governor believes that the government and the private sector will work together toward a single goal--to make Atlantic City a premier family resort destination that rivals Las Vegas.

The Governor outlined his plans for Atlantic City at the Mid-Atlantic Gaming Congress, an annual conference for gaming executives and public officials.

While in Atlantic City, he also opened the newly expanded Harrahs, a new 25-story tower with 452 rooms, and participated in groundbreaking for the Cordish Project called “The Walk,” a $60 million, 310,000 square foot retail and entertainment complex to be built between Convention Center and the Boardwalk.

“Atlantic City is a vital part of our State’s economy,” McGreevey said. “More than 33 million people visit the city each year. We will soon have 13 casino hotels and more than 11,000 rooms, and nearly 50,000 residents work here.

“Revenues from casinos provide more than $300 million a year for programs for senior citizens and the disabled, and another $52 million in redevelopment funds,” he said.

Highlights of the plan the Governor outlined include:

New Retail Attractions
* The Quarter– A new facility that opened last week at the Tropicana. The project includes 275,000 square feet of retail, 500 rooms and 2,400 parking spots. The total cost is $225 million, with the Casino Reinvestment Development Authority (CDRA) providing a $23 million direct subsidy. The project is generating 1,700 construction jobs and 2,000 permanent jobs.

* Ocean One- A retail and entertainment complex that was proposed by developer Sheldon Golden to replace the dilapidated Ocean One shopping center. The project will be built at one of the most famous intersections in the world -- Boardwalk and Park Place. It will bring first class restaurants, retail shops and entertainment that will transform the historic Million Dollar Pier into 280,000 square feet of retail space. A sky bridge will connect it with the second floor of Caesars. The project will create 570 construction jobs, and 1,190 permanent jobs. The State is working in partnership with the developer, and $33 million of this $160 million project will come from CDRA.

* Harrahs– A new 25-story Bayview Tower that opened on May 22nd. The tower will add 452 rooms to help meet a growing need for accommodations. This 50,000 square foot expansion makes Harrahs the largest hotel in the State. The $200 million project involved more than 700 union jobs, with 65 different trades represented, and will create more than 150 permanent jobs.

* Cordish Project– Known as “The Walk,” groundbreaking ceremonies were held on May 22nd for this $60 million, 310,000 square foot retail and entertainment complex. It will connect the new Convention Center with the Boardwalk and produce 1,400 construction and 675 permanent jobs. The CRDA is providing the land and the first $30 million in construction costs. Cordish will provide $30 million in private funds. Cordish will also provide $5 million to reconfigure the existing bus terminal to improve traffic flow.

Beautification
* Beach Replenishment– A commitment to ensure that beach replenishment projects move forward. The proposed State budget for FY03 includes full funding -- $25 million -- to support all pending and anticipated projects up and down the shore. In addition, Environmental Commissioner Bradley Campbell will work with local mayors to resolve delays that have stalled the Absecon Island shore protection project.

* Boardwalk Restoration- The CRDA has set aside $5 million for a project that will remove many smaller commercial structures on the Boardwalk in the area of Bally’s Casino. These structures will be replaced with park and public spaces. The project will also open up a view of the historic Dennis Hotel and restore its old grandeur. The State also will work with city and business leaders to identify and support new retail projects for the Boardwalk.

* Neighborhood Beautification– The CRDA will develop a major plan to demolish the five worst blocks near the casinos and corridors.

Streamlined Regulations
* The Governor announced support for Senator William Gormley’s proposal to allow casinos to file their internal controls with the Casino Control Commission, and then put them in place immediately. The Commission would still review the controls, but instead of waiting four or five months for approval, casinos will be able to make the changes they need quickly and efficiently. * Through legislative reform, additional steps will be taken to fundamentally streamline the regulatory process, eliminate unnecessary and redundant regulations, and toughen the penalties for underage gambling.

* The State also will seek legislative changes that make it clear 24-hour gaming is permitted, clarify the alcohol rules, strengthen the Bad Checks Law to help casinos collect what they are owed, provide casinos with greater flexibility in taking hotel rooms out of service during renovations, extend the current yearly registration of casino-related unions to every two years and permit more flexibility in renewing casino licenses and registrations.

* McGreevey also announced support for strengthening the self-exclusion program, which allows gamblers to voluntarily place themselves on a list that gives a casino the right to remove them from their facility.

Transportation & Infrastructure Improvements
* Pacific Avenue– The long-awaited Pacific Avenue One-Way Plan will be implemented. The plan will provide three lanes one-way from Missouri Avenue to New Hampshire Avenue, and one lane going the other way for jitneys, taxis, and emergency vehicles. The project will reduce congestion, travel time and delays, improve access to commercial businesses, enhance safety and simplify traffic operations.

* Commercial Air Service- An agreement between the South Jersey Transportation Authority and Delta Airlines to restore major carrier service to Atlantic City. Starting October 1, 2002, Delta will provide three daily flights to and from its Cincinnati hub. This hub provides access to more than 100 cities. The SJTA will allocate $2 million for this project – between $500,000 and $750,000 the first year. Delta’s start up investment is approximately $12 million.

* Light Rail– A study by the SJTA, CRDA and NJ Transit. The study will look at various options and alignments and examine how a Light Rail Line can be a win/win for Atlantic City.

* Parking– A plan to provide 3,000 spots. Several options will be explored.

“These projects represent the most comprehensive and forward-looking initiatives for Atlantic City and the casino industry in decades,” McGreevey said. “They represent a new era of partnership, smart business, smart government, and flexibility for the casino industry.”

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Author: C. Cohen