Revel Rebirth

Work has once again commenced on Atlantic City, N.J.’s half-finished Revel Casino project, which stalled for years over funding issues.

Officials for the casino recently announced they’d secured the $1.15 billion needed to complete the more than $2.4 billion project by the summer of 2012.

The renewed activity is expected to provide about 2,100 construction jobs in the region and 5,500 jobs once the casino is built.

Richard Perniciaro, director of Atlantic Cape Community College’s Center for Regional and Business Research, told the Press of Atlantic City the new construction should help position the city for an economic revival.

“In most recoveries, it all starts with construction,” Perniciaro said, adding that a turnaround in Atlantic City “is going to take a change in consumer and investor sentiment. Once people start working, and you see cranes, people will change their sentiments.”

The areas bordering the property will also get a boost from the completion of the casino. Gov. Chris Christie announced earlier this month that the South Inlet neighborhood surrounding Revel will receive $261 million in tax-increment financing for improvements to infrastructure.

The funding comes as part of a drive to rebrand Atlantic City as a destination resort through the creation of a state-supervised tourism district with better police protection and sanitation.