Should you break out those ice skates for a newly proposed $1 billion development in Atlantic City? (Credit: Natalya Karpeka / Unsplash.com)
As developers continue to pitch ideas to revitalize underused spaces in Atlantic City, one New York-based firm has made plans to sink $1 billion into its creative solution.
Vivo Investment Partners has announced that it would invest the billion-dollar price tag in order to transform two well-known properties, but they won’t be for more gambling. Instead, Vivo hopes to take the Claridge Hotel and former Sands Casino Hotel sites and create an entertainment hub for all ages.
Boasting ideas for go-karts and e-sports, a minor league baseball field, and even a ski slope, the concept has many buzzing about the concept. Vivo’s owner, D-Wayne Prieto, told multiple press organizations that he has reached a deal to acquire the hotel from a Clearwater-based TJM Properties. The Press of Atlantic City was first to break the news here.
The proposed development will combine a number of uses for the community and visitors alike. Vivo has told the press that a 1,500 apartment-unit building will accompany an 800-room hotel, along with retail shops, restaurants, and open space. But it lacks one common site in AC: there will be no proposed gambling in this entertainment district.
“We want to normalize the seasonality of Atlantic City,” said Prieto to the Press of Atlantic City. “What’s important here is that we are about to create a synergy that enables people to do things all year round. We are going to be creating programming 365 days a year.”
The changes would also include an updating of Brighton Park, the space between the former Claridge and the Boardwalk. Here, Vivo envisions an outdoor recreational space utilized for outdoor concerts and events in the warmer months, while leaving space for ice skating in cold ones.
For more on Vivo Investments, visit https://vivoinvestmentsllc.com/.
