- Completion: Ongoing
- Location: Historic Boardwalk Hall
- Size: N/A
- Developer: N/A
- Investment: CRDA $589,709
At the October 2016 meeting, the CRDA Board authorized a lease with JP Hall, LLC for the operation of a Starbucks franchise on the west side of Historic Boardwalk Hall, with an entrance directly from the Boardwalk. The CRDA will contribute $589,709 towards design, engineering, and outfitting that space with additional mechanical, electrical, plumbing and a new entry door. Starbucks will contribute an additional $700,000 towards improvements.
Spectra Venue Management (SVM), which operates Boardwalk Hall and the Atlantic City Convention Center for the CRDA, received a proposal from JP Hall, LLC offering to enter into a 10-year lease with one 10-year renewal option to operate a Starbucks Franchise at Boardwalk Hall. JP Hall, LLC, has proposed a fix rent of $80,000 with an annual rent incentive of 6% of gross sales of $1,000,001 or more.
SVM engaged SOSH Architects under their existing As-needed Architectural Service contract in the amount of $38,300 for design and engineer services for demolition and construction of a vanilla shell where the existing Box Office Manager’s offices are located. The cost of relocating the current Box Office Manager’s offices to an area behind and overlooking the current Box office is anticipated to be $351,371. and the cost to construct a “vanilla-shell” space which requires extensions of mechanical, electrical and plumbing services and a new entry door is anticipated to cost $ 238,338. for a total of $589,709.all to be funded through 2014 Luxury Tax Revenue Bond.