The Casino Reinvestment Development Authority (CRDA) this week announced the negotiation and execution of a long-term lease agreement with Moran Foods to operate and enhance a grocery store at Renaissance Plaza in Atlantic City.
CRDA, with funding from the New Jersey Economic Development Authority, has invested nearly $20 million to support infrastructure improvement in the Plaza. The partnership launches a comprehensive revitalization initiative to transform the downtown shopping center into a safe, modern commercial hub while elevating food access for city residents.
The project creates a long-term partnership with a national wholesaler with nearly 50 years of expertise in the grocery industry to support the redevelopment of Renaissance Plaza while implementing substantial infrastructure improvements, including roof replacement, masonry restoration, enhanced security measures, and streetscape beautification.
“This partnership marks a major step forward in revitalizing Atlantic City’s downtown core,” Gov. Phil Murphy said Tuesday. “By investing in essential infrastructure and expanding access to fresh, affordable food, we’re strengthening the foundation of this community and ensuring that residents benefit directly from the city’s growth.”
Modia Butler, Chairman of the Casino Reinvestment Development Authority, said the board is committed to making strategic investments that address community needs.
“Renaissance Plaza serves families who depend on convenient grocery access, and we carefully evaluated this opportunity to ensure long-term value for residents,” Butler said. “With Governor Murphy’s support, NJEDA’s funding, and Moran Foods’ expertise, we’re not just preserving a grocery store, we are anchoring a neighborhood.”
Moran Foods is completing a full renovation and expansion of the store, bringing additional services and an enhanced offering of fresh and healthy food options to residents. The space at 1501 Atlantic Avenue is now occupied by the Save-A-Lot discount food store.
"We know how important it is to preserve access to fresh, affordable foods to Atlantic City residents, and we are excited to make a deeper commitment by working with the CRDA to improve the shopping experience in this store,” said Bill Mayo, Chief Executive Officer of Moran Foods. “We believe in the potential of this community and store and see real opportunity to better serve local families with high-quality groceries at a great value.”
The CRDA will retain ownership of the property to ensure long-term community benefit and sustainable operations. Environmental assessments and comprehensive retail space evaluation are currently underway, with ongoing review of all tenant mix and use configurations to optimize community benefit and commercial viability.
The Renaissance Plaza acquisition follows the Authority's continued commitment to addressing food security in Atlantic City, including support for mobile fresh food markets and strategic grocery development initiatives throughout the city.
