The Atlantic Club has started a mega project to renovate the former Atlantic Club casino. This project aims to convert the hotel into condos and transform the AC skyline. Some parts of the Chelsea neighborhood will also get a new look after the completion of this project.
Plans include a 23-story building with striking exterior glass siding, reflecting the sky and the ocean. According to the president of Colosseo Atlantic City INc., Rocco Sebastiani, the company that owns this property anticipates opening the new condo-tel by 2025.
Sebsatiani said that specific details about the entire project would be released later. He said he plans to create 120 condos from the South Tower hotel rooms. Additionally, the North Tower shall reopen as a boutique holiday resort.
The Atlantic Club renovation project presents the perfect opportunity for interested buyers to own luxury oceanfront condominiums in Atlantic City.
😍 The Atlantic Club condo project gains interest beyond New Jersey
Interestingly, this project has caught the attention of international investors and locals. According to Paula Hartman of Margate realtor, the Atlantic Club promises a new future for luxury properties in AC.
Paula is the leader of the Paula Hartman Home Team at Berkshire Hathaway HomeServices. The group is responsible for marketing the high-end condominiums at the renovated Atlantic Club. She is thrilled about the project and has already received a lot of inquiries about it.
The Atlantic Club is located at a prime location at Boston Avenue and the Boardwalk, near the Black Horse Pike, one of the city’s main entrances. Additionally, the area has recently seen lots of development, with the construction of new buildings near Albany Avenue by Stockton University and AtlantiCare. This is the reason why the project has attracted a lot of interest.
📈 Chelsea Neighborhood Making Progress
The Chelsea Economic Development Corporation (EDA) has played an instrumental role in the recent development of the Chelsea neighborhood. One of the major roles played by the EDA is creating a comprehensive neighborhood plan.
Given the diverse cultures present in Chelsea, the Chelsea Economic Development Corporation has prioritized supporting local businesses, promoting art, and providing residents with resources to make an income. The EDA plans to enhance neighborhood safety and improve infrastructure for pedestrians and cyclists.
A report, released by the EDA, revealed that the Chelsea neighborhood spans an area of 0.75 square miles. This area is from Texas Avenue to Annapolis Avenue. This is home to 10,433 residents. The neighborhood’s greatest assets are its people, institutions, businesses, and access to the beaches and expansive bay areas. With initiatives like yoga in the park and walking tours of Atlantic City, the EDA’s strategies make the Chelsea neighborhood a desirable place to live year-round.
💥 Reviving the Atlantic Club
The start date of the project is yet to be decided. However, the Atlantic City hotel building must be re-cladded before Sebastiani and his team can convert the rooms into condominiums. This will help prevent water from leaking inside. Plans released by Sebastiani last week to PlayNJ gave the first glimpse into the interior and exterior renovations.
The Atlantic Club was among the four casinos in Atlantic City to close in 2014. However, two of these clubs have since reopened. The Ocean Casino Resort, formerly Revel, was the first to reopen. Also, the Showboat Hotel has reopened and plans to open a $100 million water park later this year.
It’s hard to ignore the former Trump Plaza site, which is located in the middle of the AC Boardwalk. Its main building was demolished last year, and there is no news about the future of this prime property.
So, at the moment, the Atlantic Club project promises to offer something unique.
💎 Luxury Beachfront Condos in Atlantic City
Hartman, who has worked in the real estate industry for over 25 years, and Gordon say that the luxury condos planned for the property at Boston Avenue and the Boardwalk are unique for the area. Renderings of the South Tower, which will be 23 stories high, reveal six condos per floor, ranging from 1,800 square feet to 3,000 square feet.
According to Hartman, the condos are a rare find. They will have four bedrooms and will be beachfront properties. She explained that typically, people have to buy the condo next to theirs, demolish walls, and pay significant construction costs to get a similar layout.
Hartman also mentioned that the condos should be pet-friendly. Residents will be within walking distance of Atlantic City’s casinos and have stunning views of the Atlantic Ocean and the city. The property is also near the Knife, Fork Inn, AtlantiCare, and Stockton University, which Hartman believes makes the condos even more enticing.
🏘 Transforming the Entire Chelsea Neighborhood
According to Sebastiani, residents from the tri-state region who frequent AC casinos and the free beach can’t wait to buy the condominiums. Conversely, Hartman believes that the condos will be ideal for Downbeach residents seeking more space.
Hartman said that Rocco Sebastiani isn’t just transforming the buildings. Rather, he is transforming the entire Chelsea neighborhood. She added that the new condos could attract current Longport, Ventnor, and Margate residents who don’t want to lose space if they relocate.
The cost of the condominiums is yet to be determined. Approvals are still pending from the city and the New Jersey Department of Community Affairs. Sebastiani plans to hire several designers to create luxury sample rooms for prospective buyers to view.