Paladino: Stockton Atlantic City Campus Ready for Ground Breaking

Atlantic City Gateway Project Stockton
Atlantic City Gateway Project

LISTEN > Developers of a new Stockton Boardwalk campus are ready for shovels in ground that once occupied Atlantic City High School. Indeed, this Chelsea neighborhood of Atlantic City is ready for a reboot & revival. A non-profit lead by Chris Paladino of ACDevco, is going to kick-start it this spring. By Fall of 2018, 1,500 students will utilize this beachfront facility.

LISTEN to Paladino address the SJ Chamber of Commerce on APRIL 19, 2016


Atlantic City Development Corp will oversee the building of the new Stockton Boardwalk campus, along with adjacent South Jersey Gas HQ.

The Jingoli Development firm is partnering in this out-of-the-box project/campus on the Boardwalk. Also involved is Real-Estate developer Jon Hanson, who sees benefit in the ‘Devco’ model where complex projects have better chance of being developed.

Academic buildings, student housing and a spiffy new parking garage will provide another step in the diversification of both Atlantic City, and Atlantic County.

Who’s gonna pay for all of this? The Stockton Atlantic City campus on Albany Avenue is a public-private partnership.

Stockton will pony up $18 million. The CRDA will contribute $17 million from monies derived from the Atlantic City casinos, currently taxed at 9.25 percent — 8 percent of gross revenues and a 1.25 percent “investment alternative tax.” The remainder of funding will come from $70 million of tax-exempt debt approved by the New Jersey Economic Development Authority and $28 million in tax-credit debt. The Atlantic County Improvement Authority (ACIA) could bond a portion of the overall debt as well.

6 thoughts on “Paladino: Stockton Atlantic City Campus Ready for Ground Breaking”

  1. To tell you the truth I am not thrilled by this move. I guess I am just an old Stockton graduate that can’t understand higher education getting into the business mode. I wonder what this $18-million could have been used for at the “old” campus. Welcome to Stockton the big business liberal arts phoneme.

  2. Frank Imbriacco

    A win win for Atlantic City, Stockton University, and South Jersey Gas!

    Stockton leverages $18 million with the assistance of various government agencies and programs to build a $150+ million campus. This will provide badly needed student housing and draw individuals to Stockton who would rather attend college in a more urban environment, and at the shore.

    South Jersey Gas gets a modern, new building with all the bells and whistles which allows them to entice and maintain talent, and bring under one roof the departments and employees currently scattered about in various facilities.

    Atlantic City will benefit for a variety of reasons including: 1) putting vacant land into production, 2) diversifying their economy, 3) collection of additional taxes on parts of the project, 4) a more educated work force, and 5) opening of new businesses, among others.

    For those who have never been to New Brunswick or do not know what its core looked like 30 years ago, please go take a look. With the assistance of New Brunswick Devco the city has been upgraded in many facets, something I would expect AC Devco to accomplish in Atlantic City.

  3. bharat aggarwal

    No one said when is actual ground breaking date. Past experience shows in Atlantic City you can not trust any new development promises.

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