BET Investments, Inc. of Horsham, Pa. will break ground on a 16,000-square-foot retail project adjacent to Historic Boardwalk Hall’s West Hall on the world famous Atlantic City Boardwalk.
“The investment in this retail project is proof that Atlantic City is open for business and will be a welcome addition to this section of the Boardwalk,” said CRDA Executive Director John Palmieri. “Along with the Tropicana’s recently-announced improvement plans, this development is a key component towards reimagining our famous wooden thoroughfare.”
The 2.5-acre property located between Florida Avenue and West Hall most recently housed Trump World’s Fair, which closed on October 3, 1999 and was demolished the following year. The land was purchased at auction from Donald Trump by Bruce & Robert Toll.
“BET Investments, Inc. and its affiliates are tremendously excited to expand our development into Atlantic City and on to the world-famous Boardwalk,” said BET Investments President Michael P. Markman. “This is a wonderful opportunity to bring a new dynamic retail opportunity to the city and assist in the continued efforts to see Atlantic City thrive as a world-class destination resort.”
BET Investments, Inc. and its affiliates own, manage, lease and develop residential rental buildings, retail complexes, and more throughout the country.
T.N. Ward Company builders of Atlantic City and Ardmore, Pa., which has a long construction history in Atlantic City from casinos and parking garages to schools and restaurants, will serve as the general contractor for the project. No prospective tenants have been announced as of yet.