Atlantic City Council unanimously approved on Wednesday a $2.7 billion plan to turn Bader Field into a Formula 1 racetrack, spurning a competing proposal led by Philadelphia developer Bart Blatstein to overhaul the long-vacant site. 

Any proposal for the 140-acre site would ultimately need final approval from the state of New Jersey, given that the gaming town is under state control. 

The council vote Wednesday authorized a memorandum of understanding with DEEM Enterprises LLC, the developer behind the proposal to convert the former municipal airport into a mixed-used development with a racetrack, condos, retail and commercial space. 

*Article courtesy of Philadelphia Business Journal 

For more information about Atlantic City properties for sale or lease, please contact WCRE at 215-799-6900.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Atlantic City commercial real estate broker that provides a full range of Atlantic City commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other commercial properties for buyers, tenants, investors, and sellers.

Please visit our website, www.wolfcre.com,  for a full listing of commercial properties for lease or sale through our commercial real estate brokerage firm.