Atlantic City’s Old Trump Plaza To Be Raised By Carl Icahn?

Atlantic City’s Old Trump Plaza To Be Raised By Carl Icahn

While Atlantic City is busy formulating plans to reopen the casinos, one real estate mogul is tearing one down. In recent years, one of the biggest eyesores on the famed AC Boardwalk has been the shuttered Trump Plaza. Hopefully, by the end of the year, it will finally be gone.

Carl Icahn currently owns the building. He has submitted a plan to tear down the former casino. The announcement was made by Mayor Marty Small Jr. at a press conference on June 11. A picture in the post shows the mayor speaking from a podium outside the property. He went out of his way to thank Mr. Icahn and his team.

Is Carl Icahn Planning On Raising Atlantic City’s Old Trump Plaza

The plans call for the building to be raised by the end of the year. Yet, it does mention next February as the latest date. Both towers will be torn down but the current Rainforest Café and parking garage will remain.

There have been multiple issues surrounding this vacant building for years. Loose debris has been falling from structure and damaging the area below. Small mentioned, “During the last windstorm, debris actually fell on the Boardwalk. They have been proactive (Icahn’s team) every time we have pointed the issue out.”

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The initial idea was to tear down one tower. The other tower sits above the Rainforest Café.

The mayor then addressed that idea with the following statement: “However, the plan is for them to implode both towers, bringing the building down. The only thing we have to work on is the timeline.” He added:

“My administration’s goal is to get it down by the end of the year or late February in time for cleanup for the next summer season.”

A demolition company has already been hired to handle the job. There is a possibility that the project could add some local jobs to boost the Atlantic City economy. Dale Finch is the director of licensing and inspection for the city. He stated that the plans in place are extensive and well-designed.

Next week’s agenda has a meeting planned for all appropriate city officials. This includes:

  1. Fire & Police personnel
  2. Risk Management
  3. City Construction & Utility
  4. Water & Sewer personnel
  5. Atlantic County Utilities Authority
  6. Jim Whelan Boardwalk Hall

At this gathering, the demolition company will present the plans. Atlantic City Fire Chief Scott Evans has already mentioned the use of a net. This will help contain the spread of any falling debris.

The city is also working with Icahn over plans for future use. It is unsure whether he will sell the property one the buildings are raised. The mayor noted that the property is right off the Atlantic City Expressway. He also mentioned the overall size of the oceanfront lot.

The original estimate for demolishing just the main tower was between $11 and $14 million. That cost will obviously increase with the other tower now included. The current plan is a result of April’s court order.

• Source: Icahn submits plan to tear down Trump Plaza From Pressofatlanticcity.com On June 11, 2020.

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Atlantic City’s Old Trump Plaza To Be Raised By Carl Icahn?
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Atlantic City’s Old Trump Plaza To Be Raised By Carl Icahn?
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While Atlantic City is busy formulating plans to reopen the casinos, one real estate mogul Carl Icahn is tearing one down.
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