For a place that has been promised a comeback in recent years — only to see it never materialize — experts say Atlantic City is in uncharted yet promising territory that could help usher in a long-awaited recovery. Land prices are at their lowest in decades, local and regional developers with proven track records are investing in the city and the first credible nongaming project in years is under construction, with the potential to bring thousands of students and professionals to the Boardwalk as soon as next year.
Stockton University’s new Atlantic City campus is still more than a year from opening, but the school and its developer are already thinking about what comes next.
A reshaped casino industry and the promise of a nongaming economy are no doubt driving new activity in Atlantic City, but the resort is still grappling with a cash-strapped local government. If you ask some of its newest investors, the city is at least on the path toward a solution after a recent state takeover of the municipality.
Stephen Sullivan recalls standing across the street from 30 Montgomery around 2014, as he and other Onyx executives looked up at the 15-story building in downtown Jersey City. It was time to make a decision on the future of the 313,000-square-foot tower.
After the success of 211 Mount Airy Road last summer, Onyx Equities found its next blank canvas about 10 miles away when it acquired 340 Mount Kemble Ave. in Morris Township.
John Saraceno Jr. (left) and Jonathan Schultz, co-founders and managing principals of Onyx Equities LLC, have helped grow the company into one of the state’s top private value-add investment firms in New Jersey since its founding in 2004. — Photo…
Two years after the state Supreme Court shook up New Jersey’s affordable housing landscape, dozens of towns in the state may finally be ready to turn the page, even as many others dig in for what looks to be an even longer fight.
With a court-ordered overhaul of affordable housing in full swing, there are busy days ahead for Tony Marchetta and the New Jersey Housing Mortgage and Finance Agency.
Along with a new opportunity, a potential statewide push for affordable housing comes with a touch of irony for developers like Pennrose.
The resurrection of the Roche property in Nutley and Clifton is well underway — and Prism Capital Partners is already seeing tangible signs of the promise that its sprawling campus holds.