Contact Us
Make My Homepage

AC leaders betting on real estate market rally

Amid the woes of Atlantic City casinos and the growth of non-gaming revenue in the city, officials hope to continue expanding the real estate market in the coming year.

Listen to audio from this and other news stories

home construction
(AP Photo/Keith Srakocic, File)

Speaking on the Steel Pier Tuesday, Atlantic City Mayor Don Guardian said in 2014, developers are set to break ground on 500 units, including “250 apartments that will eventually be flipped to condos once the market is right. They’re building them starting this fall. There will be condos for rent and sale, and there will also be homes.”

Guardian says pilings are going in for homes on Atlantic and Adriatic avenues as well as developments near Revel.

The addition of Stockton College in the city has Guardian hoping for an infusion of youth into the rental and real estate markets.

“For the first time, kids coming out of college think it’s kind of cool to live in an urban environment,” the mayor said. “Where 10 years ago we were talking about ‘driveability,’ now we’re talking about ‘walkability.’”

In 2013, Atlantic City announced its first gated community, with 12 single-family homes.

Guardian said real estate prices are half of what they were six years ago, so now is the time for people to buy.

“I would compare Atlantic City to Fort Lauderdale or Miami Beach five years ago,” he said. “(The price of real estate) dropped to 50 percent or less, then it went back up again.”

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!