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An Atlantic Club Casino Hotel is Back on the Market
- January 11, 2016 By Samantha A. -
The defunct Atlantic Club Hotel and Casino is again back on the market after an affiliate of and Ambler based Endeavor Property Group ultimately failed to get enough of the financial backing that was needed in order to go ahead with the plan to redevelop the property with a new water park as well as having other attractions, as the owner of the TJM Properties stated.
The Endeavor Property Group which is also known as Endeavor AC LLC was not able to generate the additional funds that were needed for the deposit in order to go forward with its plans which included such things as a conference as well as event facilities, and the new restaurants and other misc. shops, a reprehensive for TJM Properties of Clearwater Florida stated in a press release on Monday January 4, 2016.
The Endeavor Property Group purchased a parking lot that was adjacent to this property that was also owned by TJM Properties for the amount of $1.5 Million Dollars this past October as a part of their redevelopment plans for the water park. The president of TJM Properties Terence McCarthy stated while he was being interviewed. A phone message that was left for Endeavor Property Group was never returned.
The TJM Properties had purchased this property the Atlantic Club Hotel that is also formally known as the Atlantic City Hilton in the year of 2013. This came about just 4 months after the 800 room casino hotel closed its doors following a bankruptcy that resulted in the sale of its assets.