ACDevCo & Jingoli: Shovels in Ground at Stockton Atlantic City Site

stockton atlantic city jingoli gateway
It’s Official. ACDevco & Jingoli Start Stockton Project

The long-awaited and much needed Atlantic City Gateway project featuring Stockton University & South Jersey Gas is now officially underway. SEE PICTURES>

Chris Paladino of ACDevCo gave the OK for Joseph Jingoli & Son ; as general contractor to start excavation at the former Atlantic City High School site on Albany Ave. The non-profit ACDevCo selected Jingoli based on their success with construction projects like the Honors College at Rutgers University.

August 2018 is the planned completion date. Many see this as a first of many implementations of a ED’S & MED’S strategy – projects that feature fast growing education and medical jobs.

Portions of the Atlantic City Boardwalk & beach-based Stockton Gateway site will be raised to comply with new, federal flood limits.

The Stockton Atlantic City campus will feature an academic building, housing for 500 students and a parking garage. South Jersey Gas also will have offices at the site.

It’s been noted that two legal issues were holding up construction. The Borgata and a former city police chief had placed liens on the city owned sites.

Borgata did their part to slow the project as they wanted Atlantic City to take care of $170 million it was owed due to tax appeals.

Former Police Chief Mooney wanted the city to pay up on a $4mil  judgment he won. (most recently overturned) To break the log jam, ACDEVCO says Atlantic City’s title company agreed to a deal where it’s protected from future attacks on this ‘not-entirely-clean’ title.

How does Atlantic City and Atlantic City county benefit?

  • Put vacant land into production, additional tax revenue
  • Diversify economy. Adds to EDS & MEDS strategy
  • Less reliance on risky casino gaming and fixed PILOT payments
  • A more educated work force
  • Encourage adjacent, small biz openings
  • Optics. Active construction of extended Boardwalk & Stockton increases investor optimism

 

1 thought on “ACDevCo & Jingoli: Shovels in Ground at Stockton Atlantic City Site”

  1. Now if AC Devco and the CDRA gets RUTGERS to open a AC shore campus that would create alot of synergy in AC. and really add to revitalization as a college town as well.

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