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Patriot Equities has acquired the horsetrack and grandstand portions of the former Race Course. The purchase completes its takeover of the full 140-acre property in Hamilton Township.
The purchase follows Amazon’s agreement with the township for a 29-year payment-in-lieu-of-taxes deal for a planned 3-million-square-foot fulfillment center on the former stable grounds. Atlantic County Clerk’s Office records show that an Amazon affiliate completed that land acquisition on Sept. 2.
The Site’s History
The former Atlantic City Race Course opened in 1946. Jack Kelly founded the track. It later became part of New Jersey gambling history through horse racing and famous associations that included Grace Kelly and, at one point, Frank Sinatra as a partial owner.
The property also hosted the Atlantic City Pop Fest in the 1960s. The track later closed. Much of the site then remained vacant for years.
Amazon Project Now Anchors Redevelopment
Hamilton Township Committee unanimously approved the PILOT agreement in July. Under the deal, Amazon is expected to pay about $123 million over 29 years.
Of that total, $94.8 million would go to the township. The remaining $28.2 million would be split between the local school district and Atlantic County.
Township officials said Amazon’s tax obligation without the PILOT would have been about $223 million over the same period. The fulfillment center presumably will open in 2028. Amazon is expected to submit construction approval applications before the end of this year.
Officials have described the warehouse site off Leipzig Avenue as one of the property’s most contaminated areas. They have called the overall redevelopment one of the largest undertakings in Hamilton Township history.
Further Plans for Track and Grandstand Land
Patriot Equities now controls the entire former race course. Township officials said they have not received proposals for the remaining grandstand and track sections.
Hamilton Township Community Development Director Robert Goodman said the firm has not suggested uses for those areas.
Mayor Carl Pitale said formal negotiations over a second phase have not started. He said Patriot Equities had been focused on finalizing the Amazon deal first.
Source: As reported by Community News Staff.
