Atlantic City Real Estate

Atlantic City in the Midst of Renaissance

Atlantic City is once again entering a renaissance. Casino investments reflect over 10 Billion dollars on new Atlantic City Real Estate investments to be built in Atlantic City. This will be the biggest investment since 1978 when Casino Gambling debuted in Atlantic City.. Between now and 2012 the face of Atlantic City will transform. The plan is for AC to rival Las Vegas as a destination gambling resort.

• Revel Entertainment Group unveiled drawings of its new $2 billion casino-resort, to be called simply "Revel." Due to open in the second half of 2010, at 710 feet, it will be the tallest building in Atlantic City. Revel is partnering with investment firm Morgan Stanley on the project.

• Pinnacle Entertainment will build another mega casino on the site of the former Sands Hotel Casino, which will open in late 2011 or early 2012.

• A $5 billion casino resort planned by MGM Mirage in the Marina district next to the Borgata, will be the largest project Atlantic City has ever seen when the first slots start spinning in 2012.

What this means to the real estate business at the Shore is the offering of thousands of job opportunities during construction and then in the new casinos. These along with the numerous supporting businesses guarantee a healthy employment and Atlantic City real estate environment for the next decade.

Sources:
Yahoo news
Press of Atlantic City.Com
Press of Atlantic City.Com
Hotel Experts, Atlantic City, NJ
Msnbc

Atlantic City the New Vegas?

Four Companies and $9 billion look to produce a new look for Atlantic City and help give it a competive advantage over Las Vegas.

Last week, Revel Entertainment Group unveiled drawings of its new $2 billion casino-resort, to be called simply "Revel." It will feature two thin towers standing perpendicular to the ocean, with as many as 3,900 rooms, and even Atlantic City's first casino wedding chapel. The interior complex, between the towers, is curved and rounded so that it looks as if it has been shaped by gentle ocean waves.

Atlantic City Pier to Open In June

Atlantic City is awash with hotel, casino and retail expansion projects and condo developments. An example is the opening in June of the newly renovated pier. The pier will house luxury boutiques amongst a total of 85 shops and restaurants.  This pier is linked to the casino by a sky bridge, and along with all the new upscale retail businesses will also house the city's first wedding chapel. The style of the "new pier" will echo its surroundings, with panoramic views of the Jersey Shore and wood blank flooring reminiscent of the boardwalk.

The pier is being financed by the state Casino Reinvestment Development Authority in the tune of $43 and a $100 million construction loan from Eurohypo, a German bank that invests heavily in American real estate.

Trump Appoints New Hotel Manager

Rosalind Krause has been appointed general manager of the Trump Taj Mahal Casino Resort on Atlantic City's Boardwalk. She has served as assistant general manager there since September, when she joined the company, and previously served in management positions at two Las Vegas casinos, Caesar's and Paris.

Krause will oversee the Taj Mahal's 1,250 rooms and suites, 200 table games and 4,000 slot machines, as well as marketing, player development, ongoing renovations and the planned construction of a $250 million, 800-room tower.

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Atlantic City Casino Towers

Many Atlantic City realtors have nicknamed Atlantic City, Manhattan South. Perhaps a better name would be Vegas east. With the building of three new casino towers and the skyline changing drastically with tall buildings and flashing bright lights, it all is very reminiscent of the early days of Las Vegas.

So what is the upside to all this construction in Atlantic City: Employment. As casinos grow the numerous supporting businesses develop and grow at the same time. Thus more and more jobs become available. And as the news of availability of employment in Atlantic City spreads, people relocate to our City and the boom in the real state market will continue here in Atlantic County.

Jersey Shore Redevelopment Programs

Atlantic City New Jersey is in full swing of redevelopment, both commercial and residential property is involved. The city has joined the Main Street Program. This is a national program that works with a city in redevelopment, while preserving the historic element of a city. This program is revitlizing the city in all phases of Atlantic City real estate. Gone are the days when as a nation we ignored the past and destroyed buildings and other elements of a city that spoke of its history. We are learning to honor our history's icons.

The Dante Hall Theater of the Arts has been renovated. The Stockton Performing Arts Center,  the famous Atlantic City Boardwalk Hall, until 2006 was home of the Miss America Pageant and the Boardwalk Bullies minor league hockey team are a few of earmarked buildings. And of course the famous Atlantic City Lighthouse, which is a historical landmark, built in 1854. This landmark is a favored tourist destination.