MGM Resorts International and Boraie Development LLC announced a plan to build 200 luxury condo units in Atlantic City’s Marina District, near MGM’s Borgata Casino.
“We believe there is strong demand in the high-quality primary and second home market, and Boraie is the best possible partner to execute this project,” MGM said in a press statement. “While we are very excited about this project and its potential positive impact on the city, at this time we have not yet established the project’s feasibility, and it is subject to extensive regulatory approvals.”
MGM Resorts owns the land where the housing project will be built. The plan is contingent on approval from the U.S. Army Corps of Engineers and the New Jersey Casino Reinvestment Development Authority, which has zoning and land-use oversight of the city’s Tourism District.
Boraie recently completed construction of Atlantic City’s first market-rate housing development in a half-century in the city’s South Inlet section, according to the Press of Atlantic City.
MGM has reportedly been in discussions with the city over the redevelopment of its marina properties, but no details have been released.
