AC Devco eyes $62 million expansion of Stockton campus in Atlantic CityApril 2, 2019 Real Estate NJ
The next phase of Stockton University’s new campus in Atlantic City could begin as soon as this fall, with plans calling for a six-story residential building for more than 400 students.
The developer behind the expansion, Atlantic City Development Corp., is seeking approvals this month for the $62 million project along Atlantic Avenue between South Hartford and South Providence avenues. Plans call for 105 apartments with a mix of four- and two-bedroom units, which would house 405 students in spaces that also include kitchens, living areas and bathrooms.
If approved, the project would expand upon the developer’s recently opened, $220 million Atlantic City Gateway development in the city’s Chelsea section. The high-profile, 675,000-square-foot development includes new housing and academic facilities for Stockton, which is based in nearby Galloway, and a new 72,000-square-foot office tower for South Jersey Gas.
University officials said last fall that the new beachfront campus was an instant success. Some 1,300 students took courses in Atlantic City for the fall semester, while a new 533-bed residential building was 98 percent leased just weeks after opening in late August.
Both Stockton and Atlantic City Development Corp., or AC Devco, now hope to build on that success.
“It’s all about momentum,” said Christopher Paladino, AC Devco’s president. “The Atlantic City Stockton campus has been an overwhelming success and this is capitalizing on that momentum and giving more students the opportunity to live in highly desirable space.”