Atlantic City Airport Redevelopment Races On, Developer Floats $3.4B Project

Posted on: January 28, 2025, 10:09h. 

Last updated on: January 28, 2025, 10:20h.

A multibillion-dollar redevelopment of a former Atlantic City airport called Bader Field remains a go years after the project was first floated.

Atlantic City airport Renaissance Bader Field
A proposed luxury residential community for racing enthusiasts at Atlantic City’s Bader Field. The development team behind the more than $3 billion project says they’ve secured financing for the first phase of the project. (Image: DEEM Enterprises)

DEEM Enterprises, a group of local businesspeople led by Atlantic City attorney Dan Gallagher, says financing for the $3.4 billion undertaking called Renaissance at Bader Field has been secured. DEEM wants to build what it calls a “motorsport living, entertainment, and lifestyle hub.”

Gallagher’s group plans to build 4,000 luxury housing condominiums, townhouses, and apartments complemented by retail shopping, restaurants, entertainment, a nature walk, a marina, a health and wellness center, and a boutique hotel.

The development is highlighted by a 2.44-mile Formula One-graded raceway that will weave throughout the mixed-use complex. Onsite vehicle maintenance, driving simulators and instruction, and auto transportation services are additionally included. As of now, there are no plans to offer casino gaming.

The first phase of the “luxury car-centric” complex, expected to cost $750 million to $800 million, has secured financing, Gallagher said. The initial stage is to include the raceway and largest residencies.

After six years of extensive negations and collaboration, we’re proud to extend our partnership with Atlantic City Mayor Small, the Atlantic City Council, Gov. Phil Murphy, and New Jersey Department of Community Affairs Commissioner Jacquelyn Suárez to realize this shared vision,” said Gallagher. “Renaissance at Bader Field represents a bold new chapter for Atlantic City’s revitalization and future.”

Despite high-powered motor vehicles racing around the neighborhood, DEEM says Renaissance would be a “net-zero carbon LEED Platinum community.” The distinction from the US Green Building Council is for communities that meet the highest level of certification demonstrating a commitment to sustainability by implementing cutting-edge green building technologies and strategies.

Atlantic City Shopping Airport 

Bader Field, named after former Mayor Edward Bader, was Atlantic City’s municipal airport for almost 100 years until its final flight landed in 2006. Bader Field was replaced by the Atlantic City International Airport in nearby Egg Harbor Township.

The Atlantic City government has been shopping the 143-acre city-owned Bader Field for many years. Small believes its redevelopment is crucial to the casino town’s economic revitalization, but he isn’t overly confident that Renaissance at Bader Field will come to fruition.

“I’m at the point where I’ll believe it when I see it,” Small said in December.

DEEM Enterprises says the scandal-ridden mayor will soon see progress. The company plans to soon present the city with a $100 million offer to acquire the former airport, plus $15 million to sweeten the deal, with the latter funds to go toward the construction of a public recreation center somewhere in town.

Gallagher hopes to close the deal with the city before the end of March. Gallagher says he’s fielded plenty of interest from various lenders that want to finance the scheme. He says he’s also courting interest from possible investors seeking equity in Bader Field’s Renaissance.

If You Build It, Will They Come? 

DEEM Enterprises is ready to make a multibillion-dollar bet that Atlantic City can attract “high-wealth individuals who own high-performance vehicles” from Washington, DC, to New York City. Last year, Gallagher told the Press of Atlantic City that the initiative is being supported by several “wealthy investors” but he can’t disclose their names until the project formally begins construction.

DEEM isn’t the only entity that has expressed interest in redeveloping Bader Field. In 2022, Showboat owner Bart Blatstein presented plans to create a mixed-use residential complex called Casa Mar on the airport grounds.

When the Atlantic City Council signed a memorandum of understanding with DEEM in March 2023, Blatstein said the city’s “lack of transparency and competitive bidding certainly is not reflective of the highest standards for openness and public credibility.”