December 29, 2020
Bart Blatstein, the real estate developer behind several other Philly-area projects, is building a new indoor water park in Atlantic City that is planned to open next year.
The South Jersey water park will be located next to the former Showboat casino, which Blatstein converted into a non-gambling hotel in 2016 after its temporary closure two years earlier.
Blatstein's is one of several water parks proposed for the city in an effort to make Atlantic City more family-friendly, according to the AP.
The park is on track to break ground in 2021, thanks to a 20-year tax break granted by New Jersey's Casino Reinvestment Development Authority, according to the Inquirer.
The agency designated the park an "entertainment retail district" during a meeting Tuesday. The decision entitles the water park to an annual rebate of up to $2.5 million in sales tax and grants the park tax breaks on construction materials used to build it. The project's budget is roughly $100 million.
Blatstein, the CEO of real estate firm Tower Investments, is also currently developing several other projects in South Philly.
Though he's attempted to bring gambling back to the Showboat in previous years, Blatstein didn't mention a renewed effort to do so along with the water park news. Blatstein said he remains optimistic about the future of the city.
"Atlantic City’s best days are ahead of it," he told the AP.