Looks like Bader Field in Atlantic City could be getting a makeover.
A developer offered an $848 million proposal that would turn the area into a family-friendly locale, reports the Press of Atlantic City.
Bader Field, which hosted the Dave Matthews Band Caravan last month, is proposed to get an indoor water park, condos, a 3,000 room hotel, ballroom, movie theater, restaurants, casino, bingo hall and parking facilities for 5,200 cars, all of which would be connected to Atlantic City’s casino and shopping district by a monorail, according to the Press of Atlantic City.
In the proposal, developer Win-Win OND made a $426 million offer for the project. However, the offer comes with conditions that would give a 20-year, 75 percent local tax rebate incentive, reports the Press of Atlantic City.
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The project hopes to boost Bader Field’s economic situation. An estimated $33 million annual revenue from the bingo facility alone is expected.
“In this economic climate, it’s a welcome opportunity to view a proposal that may bring promise to the long-vacant Bader Field site,” Atlantic Solicitor Bruce Ward told the paper.
The Casino Reinvestment Development Authority, who took control of Bader Field back in February, plan to hire consultants to begin a strategy for the project within the next month.