Atlantic City Issues RFP to Develop 150-Acre Site
- Oct 16, 2008
Atlantic City has issued a request for proposals for the development of Bader Field, a 150-acre former municipal airport. The site, the city states, is the premier gaming and resort development parcel in North America.The Bader Field RFP is open to various development opportunities and is not limited to casino. Other uses include hotel, retail, entertainment, residential and commercial uses . The selection of a developer, or developers, for the site is expected at the end of the first quarter of 2009. Atlantic City has positioned the disposition of the site as a ground lease with a substantial upfront payment in order to provide potential developers with a financing mechanism and to ensure that the city shares in the future financial upside of the project. The mandate of the RFP is to maximize value for Atlantic City through upfront and future payments, and through improvements to the city and the related benefits of additional economic activity. The RFP also seeks to:• Further establish Atlantic City as a national and international resort destination; • Achieve excellence in architecture, urban design and sustainability; and • Promote the use of small business in Atlantic City and the employment of city residents.Atlantic City has engaged Jones Lang LaSalle to oversee the disposition of Bader Field. The city, through Jones Lang LaSalle, will accept bids from qualified parties willing to develop all of the site, or portions of it.