Atlantic City Economy on the Upswing

This year is setting up to be a good one for Atlantic City, NJ. Plagued by multiple casino closures and significant job loss over the last five years, economic prosperity may yet be on the horizon. There are several major projects underway, and they are all set to come to fruition this year.










Ocean Resort Casino

After only two years in business, Revel Casino closed its doors in 2014, making it the third casino in Atlantic City to close that year. The casino has finally been purchased, by a Denver-based developer named Bruce Deifik. It’s being renamed Ocean Resort Casino, and the new owner is confident that he’ll be able to attract good business. The casino will offer the same amenities and entertainment as before and then some. It would also be the first NJ casino to offer sports gambling, if it is approved by the U.S. Supreme Court in a ruling on sports gambling in the state of New Jersey. It is estimated that Ocean Resort Casino will create 2,500 to 3,000 permanent jobs, and it is expected to open this summer.

Hard Rock Casino

The Taj Mahal Casino is also set to reopen this summer, this time under the familiar moniker Hard Rock Casino. Their hiring process began January 30, and they’re advertising they have 3,000 permanent positions to fill. And in a show of loyalty, former employees of Taj Mahal Casino will be given preference and are being encouraged to reclaim their old jobs. The new Hard Rock Casino is doing away with the old Taj Mahal decor and has opted not only for its usual rock and roll atmosphere, it’ll also highlight the local music industry and the musicians that have called New Jersey home. Appropriately so, the casino will also feature a new concert venue.

The Gateway Project

Atlantic City will also be diversifying its economic landscape this year. In a move based in neither gambling nor tourism, it has welcomed a satellite campus of Stockton University–the reputable and ever-expanding state school just twenty minutes inland of the city. Dubbed the Gateway Project, the campus will be situated at the intersection of Albany and Atlantic. It will feature student housing for 520, an academic building that can hold 1,800 students, and a combination parking garage with offices for South Jersey Gas. The campus is sure to benefit nearby businesses, and may well flood the local rental market with students looking for housing.

The Beach

Another significant project underway in Atlantic City is an apartment complex called The Beach. Located at the South Inlet, this 250 unit development is a much needed addition to the city’s outdated housing stock, which is mostly comprised of properties over 40 years old. The complex will feature amenities such as a gym and pool, as well as a retail space on the first floor, with various shops, restaurants, and a grocery store. Updated and quality housing such as this is important to any city, especially one looking for revitalization. It encourages local employees to live within the city, and it is an opportunity for families to find better housing. The Beach is also projected to open this summer.

With this new flurry of activity, it’s sure to be an exciting year for Atlantic City. If you’re interested in looking at investment or residential properties, in Atlantic City or elsewhere, feel free to give me a call. My number is 609-287-1795.

Check out my Atlantic City Economy Report.

Selling Your Summer Home? Don’t Forget…

If you are selling property on the Jersey Shore, here’s what you need to keep in mind this time of year.










Whether it’s for a primary residence or a summer home, most potential home buyers have already started their search. Don’t forget that contracts generally take two to three months to execute, if not longer. If a buyer is hoping to settle into their new property in time for the summer season, ideally, they will need to decide on a property within the next month or so.

With the holiday season coming to a close, now is the time to finish up any renovations and home projects. Prepare your property for the market now in order to take advantage of the coming influx of summer season buyers.

Feel free to give me a call, and we can lay out a timeline and discuss preparing your house to sell: 609-287-1795.

‘Tis the Season to Winterize Your Home

Winterizing your home is important. Here’s what to keep in mind:

No Frozen Pipes. Pipes are key and must be winterized. Many are aware of the disaster of frozen pipes. Worst case scenario, burst pipes could cause substantial water damage to your property. Insulating your pipes, or shutting off the water if it’s just a vacation property, is an easy proactive measure that could potentially save you thousands.

A quick way to check if your pipes need insulating is to see if they feel warm to the touch. If you can feel heat coming off the pipe, then it is certain that both heat (and money) is being lost and that your pipes are at risk of freezing.

Winterize Cooling Units. Make sure that all units are drained of water, including any hoses and pipes. Check to see if there’s a water shutoff valve, too. If your property has window units, the most energy efficient thing to do is to remove them and store them properly.

Don’t Forget Your Sprinkler System! Frozen water can damage sprinkler systems as well, and it’s something that can be easily overlooked. Make sure the system is free of any water.

Opt for Storm Doors and Windows. Installing storm doors and windows can significantly increase the energy efficiency of your home, by adding that extra layer of insulation. As an added bonus, it’ll give your home more curb appeal! They may also be easily replaced with screens come summer.

Drafty House? Does your house feel especially drafty in certain areas? Check for drafts where different home materials meet, inside and out, like along the edges of windows, doors, and chimneys. Caulk and weather-stripping are low cost, effective options.

Run Fans in Reverse. Switch your fans to run clockwise. Warm air rises, so use your ceiling fans to draw the warmer air back down.

Insulate, Insulate, Insulate. Don’t waste money by running your heating system nonstop. Make sure your house is properly insulated and effectively holding heat inside. Major areas of heat loss include the attic floor and basement ceiling, so check to see if those are well insulated.

Featured Jersey Shore Home of the Week

For more information on this and other homes for sale on the Jersey Shore, please visit my Featured Listings page.

Sherri Lilienfeld, Helping You Live Your Jersey Shore Dream