TOWN SPOTLIGHT
ATLANTIC CITY BY PAMELA BABCOCK
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tlantic City, once dubbed “America’s Favorite Playground,” has a colorful history but has weathered plenty of ups and downs, most recently as it has sought to broaden its appeal beyond gambling. Today, many hope the expansion of Stockton University’s campus and other projects will be a catalyst to revitalize the resort, which has a yearround population of about 38,000.
The first permanent boardwalk was nailed down in 1870. Over the years, Atlantic City grew quickly with amusement piers, concerts featuring big-name acts, beauty pageants and plenty of celebrities. Although the resort was a big draw for vacationers through the 1940s, its popularity diminished with the advent of the inexpensive flights to destinations such as the Caribbean and Florida.
Stockton University opened a satellite campus in 2018 and continues to grow its footprint. Meanwhile, Asbury Park developer and investor Pat Fasano has plans for the “Orange Loop,” a district of restaurants, bars, upscale residential rentals and a hotel that begins on the beach block of Tennessee Avenue and expands to St. James Place and New York Avenue. The name comes is borrowed from properties on the Monopoly board game.
By the 1960s, Atlantic City was plagued with poverty, crime and corruption. Gambling was later legalized and Resorts, the first casino, opened in 1978. By 1988, a dozen casinos were open and annual visitor-ship grew. But increased competition in the gaming industry, particularly with new casinos opening in nearby states, led to another downturn.
Land on the island that now comprises Atlantic City was originally the summer home of the Lenni Lenape Native Americans. Incorporated in 1854, cheap train fares from nearby Philadelphia and New York brought thousands to the resort annually.
20 | NEW JERSEY REALTOR® | November/December 2021
Rachel Bachman, owner of RE/MAX Platinum Properties in Margate City, says she considers Atlantic City “a hidden jewel.” “You have the beauty of the ocean and salt air, the fabulous restaurants and nightlife of the casino industry, with a small town mentality all within a stone’s throw to New York City and Philadelphia,” Bachman said.
Unique treasures that add to its charm include small breweries and distilleries, a chocolate bar, local music and jazz bars, an aquarium and community events at Bader Field, a now-shuttered 150-acre airport. According to Bachman, prices are very affordable in the 48-block resort town, considering what other New Jersey ocean and bayside properties fetch these days. According to data from New Jersey Realtors®, the median sales price for a single-family home in Atlantic City year to date is $151,500, a whopping 51.6 percent jump over the same period last year. Meanwhile, the median sales price for a townhome or
