Atlantic City

BY PAMELA BABCOCK

Atlantic 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 year-round population of about 38,000.

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.

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.

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.

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.

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 condominium grew to $120,000, a 9.1 percent increase over the same period last year.

Single-family home closings are up 23.3 percent year to date, while closings for townhomes and condominiums grew 45.5 percent over the same period last year.

Atlantic City resident and Realtor® Geoffrey A. Rosenberger, CEO of RealtyMark, said he has seen not only an uptick in buyers since the pandemic, but also a shift in who is buying. While most used to be from the Philadelphia area, a growing number are New York and North Jersey residents who Rosenberger said aren’t afraid of “our urban problems” and see the market as “a bargain not duplicated elsewhere along the coast.”

The main obstacle is the perception of crime, which often makes headlines, according to Rosenberger. He said, however, that Atlantic City’s crime rate has dropped for the past several years.

Rosenberger said another draw for many is that Atlantic City’s welcoming environment and diversity, since it has long been a city of immigrants.

“What used to be Italian, Irish, and Jewish neighborhoods are now Latino and Asian … but readily accept any and all nationalities and types,” Rosenberger said.

Chris Popkin, a Realtor ® with the Novelli Team at Compass RE in Margate City, said he’s fielding more queries from younger buyers, as well as investors who buy and renovate homes for rentals. With a little TLC, fixerupper AC properties he has sold “turn out looking incredible.”

Bachman agrees that many active investors are eager to pick up prime real estate and contribute to revitalization efforts.

Popular areas include the University District, on Atlantic City’s Southern border, where Stockton University and South Jersey Gas have been part of a $220 million Gateway project that includes new roads, student housing and the utility’s headquarters.

Another hot area is Historic Gardner’s Basin, located on a protected channel across from the state marina and Coast Guard station. It offers a marina lifestyle with bayside restaurants such as Sirens Bar & Grill and the Back Bay Ale House, a homey dog friendly restaurant where drinks are served in mason jars. During the summer, residents can enjoy The Deck at the Golden Nugget Casino, Hotel & Marina.

Today, Atlantic City has nine casinos. Each has its own personality, style and ambiance. Top acts there and in other venues include household names like Beyoncé, Britney Spears, Stevie Wonder, Cher, and Janet Jackson.

Foodies can enjoy an array dining options, from authentic Chinese and Vietnamese to south-of-theborder, Italian and Japanese, as well as popular spots such as Dock’s Oyster House. There are also longstanding staples such as White House Subs, which often tops “best of ” lists for its submarine sandwiches.

Golfers can take a swing at a number of nearby championshipcaliber courses, while art and history aficionados can find plenty to see at places such as the Noyes Arts Garage of Stockton University, the tranquil public sculpture-filled Civil Rights Garden and the New Jersey Korean War Memorial.

Nearby parks such as Atlantic County Park at Lake Lenape, Edwin B. Forsythe National Wildlife Refuge and Bass River State Forest offer scenic views, trails and bird-watching.

In the end, Bachman said there are many reasons she and others are sold on Atlantic City.

“When you’re here, it’s actually quite charming with all the history and stories this city holds,” she said.