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AC focuses on downtown revitalization for growth - BusinessWeek

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Government agencies and private businesses are looking to revitalize Atlantic City's downtown as another way to help the struggling gambling resort thrive.

At an economic growth forum Wednesday, the Casino Reinvestment Development Authority

unveiled plans including new residential and commercial development near Atlantic City's shopping and outlet store district, The Walk. It also proposed housing for students and casino workers in underused sections of the city, and consolidating government offices in a dense area of downtown to generate more economic activity there.

Plans call for an arts district, as well as a so-called "Eds and Meds" district of educational and medical facilities that also could help spur more business.

"Atlantic City is at one of the most crucial and positive turning points in its history," said Herman Saatkamp, president of Richard Stockton College of New Jersey. "We have institutions that are collaborating. We have people interested in the success of Atlantic City."

The forum was sponsored by the Philadelphia-South Jersey Regional Council of the Urban Land Institute. It was titled "Revitalizing the City, Repositioning the Resort."

The CRDA was tapped by Gov. Chris Christie to take the lead on revitalizing Atlantic City, including the administration of a new tourism district encompassing the Boardwalk, casinos and business districts.

Jeremy Sunkett, a project manager with CRDA, said the plan aims to create more density in the downtown: bringing more people together into smaller areas to generate demand for services like restaurants, dry cleaners, retail outlets and offices.

"We want to promote walkability and create opportunities for commerce," he said. "This is a town; this is a place where people live."

The arts district would center on Mississippi Avenue and cater to the city's artist community. It's envisioned as an area of galleries, performance space, music stores and cafes. It would be near a large parking garage CRDA is building.

Sunkett floated a plan for student or work force housing on Ohio Avenue, possibly a mid-rise residential building with commercial uses on either side on the lower floors. It would be designed to let college students and casino workers have a place to live in the city. The agency plans a feasibility study to see if such a project would work.

"I'm just shocked at the number of people who work in Atlantic City who don't live here," said Daniel Brenna, owner of Capital Real Estate Group. "If you keep them here, they go to the restaurants and the beaches and the shops. It's really all here; why aren't the people here?"

Another residential-commercial project called Atlantic Village could be built near Boardwalk Hall, where authorities have wanted to expand entertainment opportunities.

"Boardwalk Hall is a very successful venue, but the city doesn't seem to get enough out of it," Sunkett said. "There should be an experience before the show, there should be an experience after the show."

CRDA is also looking to develop two parcels of land it owns, one on Mississippi Avenue across from its garage project, and another at Baltic and Indiana avenues, where a long-sought supermarket could be located. Pat Burns, CEO of Fresh Grocer, said his company is interested in building a 50,000-square-foot supermarket in Atlantic City.

Atlantic City is the nation's second-largest gambling market, but it is struggling from competition from casinos in neighboring states.




Source: http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNFjxiYzN3rK7_0HoC-Inul5dDAvjw&url=http://www.businessweek.com/ap/financialnews/D9MJEBI81.htm

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