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The Casino Reinvestment Development Authority joined the Cordish Company to announce plans for the next phase of “The Walk” - a dynamic urban retail and entertainment project, featuring nationally recognized factory outlet retailers, interactive entertainment and restaurants that strongly links the Atlantic City Convention Center with the Boardwalk and casino district.
The CRDA and The Cordish Company have undertaken the successful development of The Walk shopping district in the entry corridor at the foot of the Atlantic City Expressway since April 2000.
Phase III will be comprised of 45,078 square feet of factory outlet retail on Block 336 (Christopher Columbus Boulevard and Fairmount, Mississippi and Arctic Avenues). It will front Christopher Columbus Boulevard and will be adjacent to the CRDA’s new parking garage.
CRDA will provide a $9 million loan to Cordish towards the $15 million development costs for the construction of Phase III. The balance of the costs will be funded by Cordish as the developer’s equity contribution to the project.
Construction started earlier in the year and is expected to be completed by the end of 2010.
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