When private developers place their own money on AC projects, that’s a significant sign. Bruce Toll ( BET ) plopped down 5 million on a retail development next to Atlantic City Boardwalk Hall. He’s building 16 stores with a total of 16,000 square feet.
Trump World’s Fair Casino was on that spot 16 years ago. Toll bought the space for $25 million in a 2005 bankruptcy auction.
This BET retail space adds to the growing blocks of a significantly better Boardwalk. The new retail stores should see traffic from a more active Boardwalk Hall.
Some Boardwalk store owners are worried about the increased competition from these new BET stores. We doubt the new retail complex will bring more t-shirt, bong, and massage stores…..so no worries there….the old low-end moguls can still own that declining piece of the market.
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