May 2024 City Scoop: Atlantic City
City Grill
Michael Sylvester
Vice President of New Jersey Operations
Bowman
Significant reinvestment in real estate appears to be slightly above the national average—“a notable construction design trend” in Atlantic City, says Sylvester.
This reflects the city’s effort to upgrade its overall residential construction market with both affordable and market-rate housing, a trend likely to last with population growth, he says.
Multifamily residential is likely to grow, Sylvester says. Health care and transportation are also strong, but warehousing and retail are cooling.
Architecture, engineering and construction firms face challenges, including recruiting and retaining experienced engineers, according to Sylvester. In addition, many of his design and construction colleagues and their clients face “dwindling available land,” not to mention “financial market volatility,” he says.
Next year, infrastructure investment for the 2026 soccer World Cup is expected to revitalize Atlantic City’s downtown and casino areas. Offshore wind and other renewable energy projects are also set to drive economic growth, he says.
