Mayor Marty Small Sr. signed a memorandum of understanding with DEEM Enterprises to create a $3 billion housing and retail development on Bader Field, with a 2.4-mile auto racetrack for residents’ use, during an event Thursday morning at the former airport site.
Small called it an “historic day” for the city, and one he and the state have been working towards for about two years.
The resolution calls for six months of due diligence on the proposed racetrack, housing on Bader Field, Small said. If all goes well, it would be followed by the signing of a redevelopment agreement. Read more from The Press of Atlantic City.