search

The Real Deal Logo

Trending

Lawmakers reach sweeping housing deal with “good cause eviction,” new 421aLawmakers reach sweeping housing deal with “good cause eviction,” new 421aSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtSterling Bay, JPMorgan at odds with Wells Fargo on $230M Fulton Market debtHousing deal critics spin themselves sillyHousing deal critics spin themselves sillyCharles Cohen’s 750 Lex value slashed by 83%, foreclosure loomsCharles Cohen’s 750 Lex value slashed by 83%, foreclosure looms
New York

Stalled AC casino set to resume construction

Sign Up for the undefined Newsletter

The half-built Revel casino in Atlantic City is close to securing the funds needed to complete construction, according to the New York Post. The $1.15 billion financing, which sources say will be finalized Feb. 1, comes after days of pressure from New Jersey Governor Chris Christie, who urged owner Morgan Stanley to finish the project. Although the financing deal is reportedly still tenuous, it has drawn considerable support from the governor, who is said to view the project as crucial to the resort town’s stability, after several months of struggle during the recession. The project is expected to generate up to 6,000 jobs. Construction on the casino began in 2007, before funding dwindled and work stalled. [Post]

Tags
Atlantic CityChris ChristieRevel Casino