The Casino Reinvestment Development Authority (CRDA) in New Jersey has given Houston based Landry’s Inc. the go ahead for renovations of their Golden Nugget Atlantic City property. The renovation plan will see the conversion of a vacant restaurant into two villas at a cost of about $4.5 million.
According to local reports each of the villas will cover 2,400 square feet and include a living room, entertainment room, dining room, bar, and bedroom. The villas will feature views of the marina.
partial funding for the project will come from Investment Alternative Tax obligations with an initial commitment of $1.2 million along with future disbursements if they become available.
CRDA Executive Director John Palmieri said in a statement, “This is a wonderful project that furthers our mission to bring additional non-gaming attractions to the city.” He added, “Golden Nugget is creatively utilizing valuable space and converting it into a tremendous amenity for visitors.”
Since their creation in 1984 the CDRA has reinvested over $1.8 billion in more than 400 projects across New Jersey. $1.5 billion of that has been used in Atlantic City.