Market Rate housing key to Atlantic City Growth

ATLANTIC CITY — With the median age of the city’s housing stock more than 60 years old, officials are hoping that the opening of several high profile projects, including the Hard Rock Hotel & Casino Atlantic City, will create a demand for new market-rate housing in the resort.

Mayor Frank Gilliam said projects such as The Beach at South Inlet, a residential project located on a 4-acre lot bound by Atlantic, Pacific, New Jersey and Connecticut avenues, are the key to rebuilding the city.

The project is the city’s first market-rate development in at least 25 years, Gilliam said. The $81 million residential complex, which will feature 250 apartments, will help rejuvenate the city’s aging housing stock and will open in the summer.