Blatstein & Post Brothers: $3 Billion Bader Field Atlantic City Project
On Friday, November 18, 2022, we broke the news that Bart Blatstein would be making a major announcement about a proposed large-scale development project in Atlantic City, New Jersey.
It is no accident that Blatstein made today’s official announcement under the backdrop of the construction site of Blatstein’s $100 million dollar ISLAND Waterpark. The indoor waterpark is currently scheduled to open in 2023. Blatstein is building it directly next to the Showboat Atlantic City Hotel, which Blatstein owns.
This is an attraction that some detractors declared that not a single shovel would ever touch the ground. Currently, the construction is well underway.
Today, we can share the details of the new proposed mega-project.
Philadelphia and Atlantic City developer Bart Blatstein has announced plans to develop a multi-billion dollar mixed-use project at Atlantic City’s Bader Field.
It will be called CASA MAR.
The proposed ambitious project will be a joint venture with Blatstein, the Chief Executive Officer of Tower Investments and Post Brothers, who are also well-known Philadelphia developers, with a national reputation in mixed-use community development.
Post Brothers was represented at this morning’s press conference, (held at The Showboat Atlantic City), by Matthew and Michael Pestronk, who are the President and Chief Executive Officers of Post Brothers.
Blatstein and the Pestronk Brothers are long-time friends.
In terms of available Atlantic City, New Jersey real estate, Bader Field is considered to be the jewel in the crown. It is a pristine waterfront property, which offers an almost blank canvas upon which to build upon it.
It represents the largest parcel of undeveloped land in Atlantic City.
The Blatstein/Post Brothers plan calls for:
- $3 billion dollar development at the Bader Field site (140 acres).
- The design is set to complement its water location.
- The theme will be inspired by the canals of Venice and Amsterdam.
- The plan calls for 10,000 residential units.
- 400,000 square feet of office and retail space.
- 20 acres of trails, parks, and amenities, which will all be open to the public.
Blatstein announced that the project will be developed:
- Built-in five phases.
- Over the course of 12 years.
- Create more than 44,000 construction jobs.
- Create 8,000 permanent jobs.
- Provide for training and employment of a large local workforce.
Blatstein knows well that there is a present competition underway to develop Bader Field. He strongly believes that his and The Post Brothers' proposal is the strongest and best use of the current Bader Field site.
Blatstein has asked for Governor Phil Murphy and the state of New Jersey to make Bader Field development “an open process.”
Blatstein expressed his confidence in the integrity of government at all levels.
We will update you with any additional pertinent information that we learn about regarding this proposed mixed-use project as we continue to obtain details.
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