“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. Everything’s either high-end or low-end, and nothing in the middle.”
From PressOfAtlanticCity.com:
LPMG Companies, a developer known for reviving Philadelphia neighborhoods, plans to do the same in Atlantic City, beginning with a $3 million transformation of the historic Morris Guards Armory building on New York Avenue.
John Longacre, LPMG president, said he’s planning to create 28 to 32 apartments on the upper floors of the 1901 structure, built by wealthy Civil War veteran Col. Daniel Morris for a military and social club.
Longacre and the CEO of his lender, Mark Callazzo of Alpha Funding Solutions, plan a middle-market housing project for the millennials they believe will be central to a new Atlantic City.
“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,” Longacre said. “Everything’s either high-end or low-end, and nothing in the middle.”