The authority will auction off vacant properties in the South Inlet district in Atlantic City.
US.- The Casino Reinvestment Development Authority (CRDA) has announced an auction for six vacant properties in Atlantic City’s South Inlet tourism district, which will take place on February 7.
According to the CRDA, the six properties that will be auctioned have a total assessed value of US$725k, Press of Atlantic City details. The auction will take place at the CRDA offices at 15 South Pennsylvania Avenue at 1 pm. The South Inlet’s area features Ocean Resort Casino, which has struggled a lot in recent years and has changed ownership multiple times.
While it is unexpected that operators will build more casinos around the area – especially if they consider Ocean Resort’s failure over recent years – the land proposes multiple opportunities for the city to continue its growth.
The CRDA auctioned in March 2018 more than 90 properties and totalled US$570k from the sale. The auction included 16 packages, or 84 lots, with developable land.