The New Jersey Casino Reinvestment Development Authority plans to pump 0 million into two facilities that were hoped to be at a revival of Atlantic City—Boardwalk Hall and the city convention center.
The money comes from a $253.3 million bond offered by the authority to retire some existing debt and make improvements to both buildings.
After the sale, the authority will officially run both Boardwalk Hall and the convention center—a move planned since the formation of the Atlantic City Tourism District in 2011. The new bonds refinance existing debt held by the New Jersey Sports and Exposition Authority, which formerly ran the two venues.
Boardwalk Hall is a major entertainment venue for the city. The convention center was built in 1997 for $286 million, but has never really drawn the amount of convention business that was hoped for when it was proposed.
The $110 million will be used to make the venues more attractive for shows and conventions. Improvements will include maintenance, repairs and cosmetic upgrades for both buildings over the next five years.
John Palmieri, executive director of the authority, told the Press of Atlantic City that there will be “dozens and dozens of things” that will be improved at Boardwalk Hall and the convention center including upgrades to the electrical, plumbing and heating and ventilation systems, roof repairs, new floors and new painting.
At the convention center, the authority will examine creating new entryways and converting existing space into better uses to make the complex more appealing to conventions and trade shows, Palmieri said.
At Boardwalk Hall, a plan to convert the Adrian Phillips Ballroom into a venue for more concerts and boxing matches, is also planned.
