It’s no secret that the Wildwoods are going through a massive transformation at the moment.
If you follow our monthly construction recap videos you would see that every square inch of this island is getting some kind of work done. (You can watch our latest video at the bottom of this article)
One of those major players on the island that is helping the transformation is BG Capital.
BG Capital not only owns Seaport Pier at 22nd and the boardwalk, but they are working on four different projects on the island.
Isle of Capri Motel To Become Seaport Inn
They are building the 38 dwelling on Magnolia avenue (the old Trinity School lot), the Residences on Pacific Ave (where the Fairview was), they are purchasing the lot where Shamrock Beef & Ale was located, and already purchased the lot where the VFW and restaurant next door is.
There is a new project they are adding to that list.
Back in February, we announced that the Capri Motel, located at 500 Ocean Ave in North Wildwood had sold for 1.64 Million to 500 Ocean Ave LLC.
At that time we didn’t know what would be happening to the motel since many motels in that area had gone condo.
On Instagram yesterday, BG Capital gave us our answer.
Their post went on to say, “BG Capital has just acquired the Isle of Capri motel in North Wildwood. This 20-unit motel will go through a full renovation over the next 90-days and will be reopening for the 2022 summer season as the newly branded Seaport Inn!”
This is great news since many of us were worried it could go condo.
Since they just closed they would need to submit documents to the zoning board, which could take some time. We will be sure to keep an eye out for them so that we can bring you some mockups of their designs.
On a side note, BG Capital, please don’t dump the Capri Motel sign into the dumpster. We would really love it at the historical society.
We wish BG Capital and The Seaport Inn the best of luck!
Check out these other Wildwood videos and articles.
