Atlantic City Secures Fifth Opportunity Zone in Marina District as Mayor Highlights Development Momentum
Atlantic City gained a fifth federal Opportunity Zone covering the Marina District. Mayor Marty Small Sr. pointed to an active real estate renaissance and peak investor confidence. The announcement aligns with Norcross's purchase of Trump Plaza and two planned residential projects near major casinos.
SCCG Take — The zone and transactions illustrate targeted use of federal incentives to support development adjacent to casino assets. Operators should track how these projects alter local infrastructure and visitation patterns.
Atlantic City announced its fifth federal Opportunity Zone on November 4, covering the entire Marina District that is home to Borgata, Harrah’s and Golden Nugget. Atlantic City Mayor Marty Small Sr. said the designation is a big deal that reflects a real development renaissance already underway with investor confidence at an all-time high.
The zone adds to four existing Opportunity Zones that deliver federal tax incentives for real estate and business investments in distressed areas. It encompasses a 35-acre parcel owned by MGM Resorts adjacent to Borgata, now in early planning for a mixed-use residential community. A separate proposal from a New Jersey developer calls for a 182-unit waterfront development next to Golden Nugget.
Small Sr. stated: "Adding another Opportunity Zone, especially one that includes the entire Marina District, is a big deal for us. Atlantic City is seeing a real development renaissance happening right now as investor confidence is at an all-time high."
Boardwalk Property Transactions
Power broker George Norcross acquired the long-closed Trump Plaza last month. Atlantic County Executive Dennis Levinson called the purchase a huge win for the region that will draw additional investment.
"When you get a mover and a shaker like George Norcross coming into your area, it really gives it a boost. Others will follow and make Atlantic City what we believe it can be," Levinson said. Asked what Norcross might build, Levinson replied "first-rate condos."
Real estate prices in Atlantic City remain far below those in neighboring Jersey Shore towns. Boardwalk condos frequently list under $200,000 while similar units in Sea Isle City exceed $1 million. A one-bed, 1.5-bath condo at Tropicana Atlantic City appears in listings for $195,000. According to Casino.org, the mayor has separately noted the city is cleaner, crime is down and it is poised to reinvent itself.
These developments stay within the bounds of announced projects and incentives without assuming broader market outcomes.
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