10,000 apartments could transform the city
Business Buzz
By Rich Baehrle
Bart Blatstein, CEO of Tower Investments Inc. announced a joint venture plan to develop a residential and retail community with trendy food establishments at the vacant Bader Field site. His partners will be Post Brothers, a nationally recognized leader in mixed-use community development. The new innovative community will feature a mix of 10,000 residential units, 400,000 square feet of office, retail space creatively placed throughout the 140-acre site. In addition, the new community will be highlighted with 20 acres of trails, parks and amenities which will all be open to the public. The new community will be named Casa Mar.
The estimated $3 billion dollar development is designed to embrace the water along with the spectacular views of Atlantic City. It is inspired and modeled after the canals of Venice and Amsterdam. It will be a showcase and a masterpiece design that will finally transform Bader Field into a community that will maximize its full potential. The former Bader Field site is the last largest parcel of undeveloped land in Atlantic City.
“This is a once in a lifetime transformational opportunity for Atlantic City and together with Tower and Post Brothers will make this happen, “said Bart Blatstein, CEO of Tower Investments, Inc. “The development is a key part of the renaissance of Atlantic City and the highlight of my career. It is an honor to partner with my dear friends and fellow developers, Mathew and Michael Pestronk of Post Brothers. Our two companies have created billions of dollars of development over the years and we currently have joint ventured over a billion dollars in residential development in Philadelphia.
“We are excited to partner with Tower in developing Casa Mar which will change the paradigm for this city. “ said Michael Pestronk, CEO of Post Brothers. Together we will develop and epic waterfront community that will set a new standard for living not only in Atlantic City, but in the entire U.S.”
Both Tower Investments and Post Brothers have long track records of creating Class-A mixed use residential communities and delivering on their vision to create the most desirable ultra-large scale neighborhoods.
The project will be developed in five phases, over 12 years. It is projected it will create more than 44,000 construction jobs and 8,000 permanent jobs which will include the training and employment of a huge local workforce.
“Atlantic City is the greatest opportunity in America today.” Blatstein said. “Governor Phil Murphy and Lieutenant Governor Sheila Oliver are inspiring with their enlightened leadership and their love and passion for Atlantic City’s future. Our confidence in their leadership propelled this plan.”
During the press conference, the developers Tower and Post Brothers said Casa Mar will be the most economically beneficial project and most inclusive in Atlantic City’s history.
“We look forward to an open and transparent process.” Blatstein promised. “If approved, we pledge to create in Atlantic City the most exceptional waterfront community in the country.
It is time for the officials of Atlantic City to partner with reputable proven developers who will bring a showcase projection to fruition.
Casa Mar proposed mixed-use residential, retail and food to go at Bader Field in Atlantic City
Bart Blatstein, CEO of Tower Investments Inc. announced a joint venture plan to develop a residential and retail community with trendy food establishments at the vacant Bader Field site. His partners will be Post Brothers, a nationally recognized leader in mixed-use community development. The new innovative community will feature a mix of 10,000 residential units, 400,000 sf of office, retail space creatively placed throughout the 140-acre site. In addition, the new community will be highlighted with 20 acres of trails, parks and amenities which will all be open to the public. The new community will be named Casa Mar.
The estimated $3 Billion dollar development is designed to embrace the water along with the spectacular views of Atlantic City. It is inspired and modeled after the canals of Venice and Amsterdam. It will be a showcase and a masterpiece design that will finally transform Bader Field into a community that will maximize its full potential. The former Bader Field site is the last largest parcel of undeveloped land in Atlantic City.
“This is a once in a lifetime transformational opportunity for Atlantic City and together with Tower and Post Brothers will make this happen, “said Bart Blatstein, CEO of Tower Investments, Inc. “The development is a key part of the renaissance of Atlantic City and the highlight of my career. It is an honor to partner with my dear friends and fellow developers, Mathew and Michael Pestronk of Post Brothers. Our two companies have created billions of dollars of development over the years and we currently have joint ventured over a billion dollars in residential development in Philadelphia.
“We are excited to partner with Tower in developing Casa Mar which will change the paradigm for this City. “ said Michael Pestronk, CEO of Post Brothers. Together we will develop and epic waterfront community that will set a new standard for living not only in Atlantic City, but in the entire US.”
Both Tower Investments and Post Brothers have long track records of creating Class-A mixed use residential communities and delivering on their vision to create the most desirable ultra-large scale neighborhoods.
The project will be developed in five phases, over 12 years. It is projected it will create more than 44,000 construction jobs and 8000 permanent jobs which will include the training and employment of a huge local workforce.
“Atlantic City is the greatest opportunity in America today.” Blatstein said. “Governor Phil Murphy and Lieutenant Governor Sheila Oliver are inspiring with their enlightened leadership and their love and passion for Atlantic City’s future. Our confidence in their leadership propelled this plan.”
During the press conference, the developers Tower and Post Brothers said Casa Mar will be the most economically beneficial project and most inclusive in Atlantic City’s history.
“We look forward to an open and transparent process.” Blatstein promised. “If approved, we pledge to create in Atlantic City the most exceptional waterfront community in the country.
It is time for the officials of Atlantic City to partner with reputable proven developers who will bring a showcase projection to fruition.
Rich Baehrle of Berkshire Hathaway Fox and Roach. Can be reached at 609-226-6680 or 609-641-0011 richardbaehrle@gmail.com
www.getrichinrealestateSJ.com