By Michael Aron
Chief Political Correspondent
Is Glenn Straub the new savior for Atlantic City?
Straub owns the Palm Beach Polo and Country Club in Florida and the Miami Arena, among other properties.
Freehold attorney Stuart Moskovitz has been representing him for more than 30 years.
“The Revel is going to be part of a much larger project which he calls the Phoenix Project, where he’s going to turn the northern part of the boardwalk area and turn it into a resort,” Moskovitz said.
Straub has a grand vision for the city that includes redeveloping the old airport Bader Field.
Citywide he wants to bring in a new air field, an extreme sports complex, two marinas with the capacity to handle “super-yachts,” a world-class equestrian complex, indoor and outdoor water parks, two universities, a pier project, high-speed ferries and helicopters connecting Manhattan to Atlantic City and an assisted living facility.
The $500 million makeover would be financed by investors in the individual facilities.
“If he builds the Phoenix Project — and I think he will — you’re going see people coming to Atlantic City for the reasons they were supposed to come to Atlantic City 30 years ago,” said Moskovitz.
Straub has also agreed to purchase the Showboat from Stockton University for $26 million.
Stockton wanted to put a campus there but the Trump Plaza next door has a covenant that blocks that, and Moskovitz says Straub has no reason to fight the covenant.
“It didn’t make any sense to me. Why would you put a university on the boardwalk in the middle of casinos? How on earth do you expect your students to concentrate on learning?” asked Moskovitz.
Stockton University officials declined to comment today.
Moskovitz says Straub is likely to bring in an established casino operator to run Revel’s new gambling halls and that it would be great to open this summer but that’s a tough schedule.
“The Revel in the end is — I hate to call $82 million and a building that size small — but it’s a relatively small part of the total package. He’s not just looking to reopen the Revel, he’s looking to put something together that will alter the city,” Moskovitz said.
First it was the new mayor people pinned their hopes on, then the new emergency manager. Now it looks like developer Glenn Straub is the new dominant figure in whether the city comes back or not.
“The mayor is excited, and he should be. This is a real opportunity for Atlantic City that, as I said, we thought we were getting 30 years ago,” said Moskovitz.
Mayor Don Guardian was unavailable for comment today. Others said at last the Revel sale has gone through.