RESORTS ATLANTIC CITY TO GET NEW TOWER

June 20, 2001 7:41 PM
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Colony Capital announced Tuesday it will add a 30-story art deco-style tower to its Resorts Atlantic City hotel, which it purchased two months ago.

The $125 million addition will replace the hotel’s old 170-room wing, and bring the total number of rooms to 970.

Colony Capital is also considering renovating the Steeplechase Pier with 200 hotel suites, ballroom, swimming pool and cluster of retail shops. The project would cost from $50-$100 million, though a decision on it won’t be reached until next year.