New Jersey's Economic Development Authority has approved nearly $70 million in tax credits that would support Stockton University to develop an Atlantic City campus.

Plans call for a public-private partnership that would include a new corporate headquarters for South Jersey Gas. A residence hall would provide housing for 500 students.

The school's attempt to establish a facility at the former Showboat casino, which it bought from Caesars Entertainment in December 2014, fell apart by conflicting legal restrictions on how the property can be used.

The university sold it to Revel casino owner Glenn Straub, but that deal fell through.

Stockton now plans to sell the Showboat to Philadelphia developer Bart Blatstein on Jan. 15. He has not revealed his plans for the property.