ITT plans $250 million renovation for pier-turned-mall in Atlantic

Wednesday, Jan. 22, 1997 | 11:59 a.m.

The 900-foot long structure, which was formerly known as Million Dollar Pier, is a three-story behemoth that juts out over the ocean, perpendicular to the Boardwalk.

It will be refurbished with 250 luxury hotel rooms and 45,000 square feet of casino space, according to a project description filed by Caesars with the state Casino Reinvestment Development Authority. Caesars is seeking $10 million in CRDA financing for the project.

Also planned: a 2,500-space parking facility and a connecting bridge over the Boardwalk that links the mall with Caesars. Construction would begin in September 1997 and conclude in June 1999.

There will be some retail space in the pier, but the project description did not include specific information.

It would be the first time casinos have expanded onto city piers since legal gambling began here in 1978.

There is at least one hurdle, however.

The City Council must approve a zoning change for the mall to allow gambling on it. City planners are currently studying a plan under which the city's piers would be zoned for casinos.

Mayor James Whelan said he didn't want gambling to overshadow the "traditional Boardwalk and pier elements" of the city's seashore image.

"If you go to Ocean One now, it looks like any other mall out in the middle of Iowa. We want something that will make people say, 'Wow, this is Atlantic City.' We want them to know this is the seashore," Whelan said.

ITT Corp. bought Ocean One from the Equitable Life Assurance Society of the United States last August for $18 million.

Caesars is already at work on a $280 million expansion of the casino hotel that will add 620 rooms.