Resorts Casino and Morris Bailey to start development project in New Jersey
The mixed-use community will be adjacent to Monmouth Park Racetrack in Oceanport.
US.- Resorts Casino in Atlantic City, and Morris Bailey, chairman of JEMB Realty, have commenced a development project on 80 acres adjacent to Monmouth Park Racetrack in Oceanport, New Jersey. The project includes the phased development of a 298-unit residential building, a 200-room hotel and a youth sports community centre.
The first phase of the project, to be developed with the State of New Jersey and Dennis Drazin’s Darby Development, is scheduled to break ground in Q4 2025. Bailey has been working with the New Jersey Thoroughbred Horsemen’s Association (NJTHA), the New Jersey Sports & Exposition Authority (NJSEA), local community stakeholders and elected officials as well as Darby, which recently entered into an 85-year lease agreement for Monmouth Park.
Governor Phil Murphy said: “Monmouth Park Racetrack is an iconic New Jersey attraction. We are thrilled to see this project move forward, which will bolster the local economy and ensure that the area is a popular destination for generations to come. Through this important development, the history and legacy of this racetrack will not only be solidified but expanded and enhanced so that more New Jerseyans can experience its excitement.”
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Bailey said: “We are embarking on the next phase of a journey that began over a decade ago when we developed plans to reimagine and reinvent the Monmouth Park experience that has brought so much joy to generations of horse racing enthusiasts.
“We have always been staunch advocates for returning the area to its rightful place as the premier destination for horse racing and family entertainment while including important components that serve the community at large. After an intensive, complex, and lengthy process, our plans will create a vibrant lifestyle destination for future generations and will put the racetrack on a trajectory for enormous growth.”
