Now is the time for Atlantic City to switch gears a become a luxury residential mecca.
The recent news of the closing of another of Atlantic City casinos is leaving the picturesque shore line in the dark, and only a seasoned investor would venture to bet on the city’s turn around landing on its iconic structures. Atlantic City needs to go full on residential, and residential in a high luxury style similar to Miami famed coastal region.
The properties are there.
Atlantic City is basically a city built on a service economy, gambling and all the attributes to support it, which coincidentally wouldn’t be too far from supporting a high end residential community. The employees are there and familiar with the territory, the community could continue or modify their purposes to meet a new, constant and permanent consumer. The properties would have to be modified, spurring, construction and ancillary spending in the region. Gov. Christie needs to see this as an opportunity to be captured early before pessimism sets in a send the city back to its “stoned” age.