Stockton University’s plans for an Atlantic City campus received some financial help after the Atlantic County Improvement Authority approved a plan to issue bonds to partially fund the project.
The school had hoped to build the campus at the former Showboat casino site, but that controversial plan bogged down due to deed restrictions at the site. The school eventually sold the former casino to developer Bart Blatstein.
The authority will cover $50.4 million of the cost of a new plan proposed in the Chelsea section of Atlantic City. The island campus bonds would be repaid with the proceeds of the sale of state tax credits, according to the Press of Atlantic City.
The $203.8 million project also including a new headquarters for South Jersey Gas. The proposal is for a 56,000-square-foot academic building, beachfront student housing for 500, an 886-space shared parking garage with a new headquarters for SJ Gas atop it, and retail space, according to the Press.
