Pier Shops at Caesars Possibly Bought by Philly Developer
A Philadelphia developer who specializes in redeveloping distressed properties into residential, entertainment and retail spaces claims to have bought the four-level Pier Shops at Caesars in Atlantic City.
Bart Blatstein, who is also currently competing for a casino license to build a gaming resort around the old Philadelphia Inquirer & Daily News building, is reportedly buying the Pier for an undisclosed sum, according to PressofAtlanticCity.com, but Philadelphia Business Journal estimates the quote at $2.5 million.
The Pier, which opened in 2014, cost $200 million to to build. Three years the U.S. National Bank Association took over the property in a foreclosure sale.
Blatstein allegedly plans to add a mix of upscale and mid-priced shopping and dining at the Pier Shops. A press conference addressing the new changes could come as soon as next month.
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