Monday, February 15, 2016

Plans for AC Stockton U. campus and SJ Gas headquarters

Rendering of South Jersey Gas headquarters
A site plan submitted to the Casino Reinvestment Development Authority lays out on a molecular level the components of the campus, a South Jersey Gas corporate headquarters, and an 879-space garage proposed to be built on 270,000 square feet of land in the city’s Chelsea section.
The Authority, regulator of land use in the city’s Tourism District, must approve the plan, which will be the subject of a public hearing scheduled for Feb. 25.
The Chelsea project is the first major undertaking of the non-profit Corporation, which bills itself as a public-private partnership modeled after the New Brunswick (N.J.) Development Corporation.
In November, Chris Paladino, an attorney who heads both groups, said the project relies on a patchwork of public and private financing, including $44 million from South Jersey Gas; a $17 million grant from the Authority; subsidies from the state Economic Redevelopment and Growth Program; bond debt issued by the Atlantic County Improvement Authority; and a private equity investment.

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