Developer's Plan To Refurbish Atlantic City Mall Put On Hold
By Pat Loeb
PHILADELPHIA (CBS) -- Philadelphia developer Bart Blatstein had planned to unveil his vision for The Pier Shops at Caesars in Atlantic City on Tuesday, but a legal dispute has put the project on hold.
The Pier Shops at Caesars, with high-end shops to lure affluent shoppers, was meant to combat the declining gaming market. Instead, the mall became a victim of it and has struggled along in foreclosure.
Bart Blatstein, with what Frank Keel, a spokesman for his company, Tower Investments, says is a sentimental attachment to Atlantic City, hoped to breathe new life into it after paying $2.7 million to take over the lease in November. But he abruptly cancelled a news conference about his plans after Caesar's, which still owns the land the Pier sits on, filed a suit to stop him, saying it hadn't approved his taking over the shops.
Caesars declined to comment on the dispute, but Keel says he's optimistic it can be settled.
"The focus right now is on the discussions to clear up any misunderstanding," he says, "and move forward with this great project."