Now that the $2 billion gamble has gone bust and lawyers and interested parties spar over just what to do with Revel, one constituency has been conspicuously absent from the discussion – residential homebuilders.

Revel, with its 1399 empty hotel rooms, is just begging for an opportunity to be the catalyst to bring vibrancy and a sense of place and purpose to Atlantic City’s east end. Residential, you ask? Yes. For-sale condominium units built from those empty hotel rooms, allowing regular people, not just large commercial conglomerates, to invest in the City. And every NJBA builder knows what happens when residents move into a community – businesses follow, to serve the needs of those homebuyers.

Condo conversion at the Revel can work for the property and help Atlantic City as a whole by increasing demand for business services and creating a community that can move out from the core. It won’t happen overnight. It will take years. But potential developers and government planners who do not consider residential uses at the Revel are missing an important piece of the picture.

Related Practice

Real Estate