“Five years from now, Atlantic City will be an entirely different place.”
“I have been looking to move somewhere I could meet people by enjoying restaurants and weekly entertainment — and if it were closer, Atlantic City might have been an option,” says NJBiz.com contributor, Meg Fry.
After all, it also boasts miles of beaches, a boardwalk, a nearby airport (with cheap flights) and, of course, the remaining casinos.
But have the creation of the Tourism District in 2011, the popular “DO A.C.” campaign by the Atlantic City Alliance and the valiant efforts of the Casino Reinvestment Development Authority done enough to transform Atlantic City into a town rivaling millennial-friendly locations such as Hoboken, Jersey City or Morristown?
Possibly. At least LPMG Companies and lender Alpha Funding Solutions think so.
According to The Press of Atlantic City, LPMG Companies and Alpha Funding Solutions hope to attract millennials to Atlantic City by investing $3 million into the historic 30,000-square-foot Morris Guards Armory building on New York Avenue.
Their plan is to fuse the building’s 1901 original architectural details with an urban renovated feel (very millennial-like) to provide competitively priced retail and residential units.
“I’ve always felt Atlantic City doesn’t have anything for the middle market, people who are average Joes looking for entertainment and amenity-based services,” said John Longacre, president of LPMG, in the report.
Mark Callazzo, CEO of Alpha Funding Solutions, said he came on board after learning most of his kitchen and bar staff at the Atlantic City Bottle Co. spirits shop and Iron Room restaurant lived outside the island.
“They all say there’s not really a cool, safe, affordable place for them to live in town,” Callazzo said.
So Longacre hopes to provide them with approximately 30 apartments on the upper floors of the structure — including a few micro-units, “because they’re really popular right now” — and retailers on the ground floor in which to do their shopping.
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