By Joshua Burd |
Kushner has taken another step in a plan to build 180 new apartments in Atlantic City, securing a key entitlement from the state’s Casino Reinvestment Development Authority.
The agency, commonly known as CRDA, granted preliminary and final site approval earlier this month to the project at New Hampshire and Caspian avenues. That allows a Kushner affiliate to advance the Caspian Point development, which requires additional entitlements, with the goal of revitalizing a long-vacant stretch of property along the Absecon Inlet and steps from other well-known destinations in the town.
“Caspian Point benefits from a strong waterfront location in Atlantic City’s Inlet neighborhood, with views across the Absecon waterway toward Brigantine and access to neighborhood amenities like Gardner’s Basin and the boardwalk,” said Michael Sommer, Kushner’s chief development officer. “The current plan for four residential buildings totaling 180 units with a dedicated clubhouse reflects what we believe is the highest and best use for this site. We’re pleased to have advanced through the CRDA process and continue moving through the remaining entitlement approvals, which we expect to complete in the second quarter.
“As that work progresses, we believe this project will help support continued residential activity along this part of Atlantic City’s waterfront.”
The full version of this story appeared on REAL ESTATE NEW JERSEY.
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