The property was the original spot for the Golden Nugget.
After sitting dormant for more than a decade the former Atlantic Club Casino Hotel will re-open as a condo-hotel in 2026.
That's the expected date, according to Rocco Sebastiani, president of Colosseo Atlantic City Inc., which purchased the one-time Golden Nugget from TJM Properties in 2019.
"It took awhile but now everything is moving along with our permit process," Sebastiani said in a telephone interview from Chicago. "Hopefully we'll have our permits shortly."
Sebastiani hopes construction on the project with Hilton will start during the summer, and believes the resort will open by the third quarter of next year.
"As soon as we get the permits, we'll go to the market and start taking (construction) bids," he said. "It won't take long to accomplish our goal once construction starts."
One tower will be transformed into 108 condos, which will range from 2,700 square feet to 3,200 square feet. The other tower will be turned into hotel rooms. Sebastiani dubbs it a "mega-resort."
One tower will be transformed into 108 condos, ranging from 2,700 square feet to 3,200 square feet."The views will be breathtaking," he said. "There will be 360-degree views. You'll be able to see the ocean. Natural air from the city will come in."
There will be a high-end branded tapestry by Hilton, many food and beverage options, along with retail shops and wedding halls, Sebastiani said.
"This will be a destination point with beach bars and cabanas and so many other amenities," he said. "I can't wait for this project to be completed."
The plans include highlighting the ocean view.It's been a long process for Sebastiani, but the finish line is finally in view for the veteran developer.
"I had come to town in 2019, and when I first saw the Atlantic Club, well, there was severe water damage," he said. "The systems were broken. Frozen pipes were broken. It was uninhabitable and unfixable. I made a deal in 2019, and then COVID hit. During that time, a master plan was hatched for this to be a condo hotel like there are in New York, Philadelphia and Florida."
Designs were made in 2021, but there were delays. Sebastiani talked about legal action against the city for stalling construction.
"We didn't ask for any tax abatement or any program to subsidize our production," he said. "We were just looking for a market rate."
Sebastiani blames the delay on Atlantic City Head of Construction Anthony Cox.
"The damage one person created is awful," Sebastiani said. "When we started this the interest rate was 3½ percent and now it's at 7½ percent, and that increases the cost of production."
When the Department of Community Affairs was contacted, the agency opted not to respond.
" At this time, the DCA will not comment on this project or the actions taken by the Atlantic City Construction Office," Department of Community Affairs spokesperson Lisa Ryan said. "This matter is under an active investigation by the Division of Codes and Standards."
However, Sebastiani is moving on since his issues with Cox are in the rearview.
Amenities include private cabanas."I'm looking ahead, and it's looking good," he said. "I had this vision when I started this project. I grew up in Florida and the beach in Atlantic City is just as beautiful as what I grew up with. We have a great beach where we are. We're going to be good for Atlantic City."
Orange Loop developer Mark Calazzo concurs.
"Success at the other end of the Boardwalk helps us and everyone else," he said. "Nobody wants Rocco to succeed more than us (developers). We're all in this for the city. I don't know Rocco as well as I know (developers) Pat (Fasano) and Bart (Blatstein). But Rocco seems like a great guy. What Rocco is doing will be great for that part of town. Atlantic City is coming together."
A hotel will be part of the plans with Hilton.
