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January 15, 2018
REPORT URGES MAJOR INVESTMENT IN NJ'S AGING, LEAKING DRINKING WATER PIPES
The Joint Legislative Task Force on Drinking Water Infrastructure has approved a report outlining the dire condition of New Jersey's aging drinking water infrastructure and recommendations to legislators for fixing the problem. The report urges the Legislature to create a new grant program, financed by $400 million in bonds, to begin urgent upgrades to the state's complex patchwork of drinking water systems, especially smaller systems and those in economically distressed communities.
PARTNERSHIP PLANS 156 NEW APARTMENTS OF CAMDEN WATERFRONT
A real estate partnership building an office tower on the Camden Waterfront will also develop a 156-unit apartment complex on Cooper Street.
The 11 Cooper complex will include studio, one- and two-bedroom apartments, including about 30 affordable units.
AC OCEAN WALK COMPLETES PURCHASE OF REVEL
AC OCEAN WALK, principally owned by Denver-based Integrated Properties has purhased the former Revel Hotel for $200 million.
The group said the property will be re-opened as the Ocean Resort Casino this summer.
The Ocean Resort Casino is a 1,399-room venue that sits on 20 acres along the Atlantic City boardwalk. The former Revel Casino has an attached 7,700-space parking structure.
When fully operational, AC said it will provide up to 3,000 jobs to Atlantic City.
AC OCEAN WALK said its plans include 138,000 square-feet of gaming space, the 165,000 square-foot convention center as well as the 5,700-seat concert hall.
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Pepco Holdings announced the appointment of Melissa Lavinson as the company's new Senior Vice President for Government and External Affairs. She replaces Ken Parker, who retired in December after 31 years of service at Pepco Holdings and Atlantic City Electric.