Unlike most municipalities in the state, Atlantic City has plenty of available housing inventory. Most of them, however, need a little work — repairs and renovations that normally would price the homes out of the market.
That may no longer be the case.
With the housing boom in the state — and numerous grants for homebuyers — housing in Atlantic City may make sense for contractors and do-it-yourself buyers who don’t mind a “fixer-upper.”
On May 25, Atlantic City Development Corp. and the Greater Atlantic City Chamber of Commerce will hold an in-person (and virtual) webinar to discuss an understanding of the situation and to address obstacles to rehabilitating the current housing stock of waterfront properties.
Information will be provided on FEMA funding for elevating homes, as well as grants for homebuyers. In addition to existing homebuying incentives, AtlantiCare and AC Devco have both developed down payment assistance programs up to $10,000 for qualified buyers.
At the event, builders also will learn how to pursue funding to elevate homes. Home elevation makes the property more valuable, reduces the potential for damage and results in lower flood insurance costs.
Buyers can currently find more than 300 single, multifamily and condo units for sale in Atlantic City, which has lower-than-average housing costs for a beach community.
The Chelsea Economic Development Corp., Ducktown Community Development Corp., Midtown Revitalization and Uptown Community Development are partnering with AC Devco and the AC Chamber on the event.
The event, which will take place at the Chelsea Inn at 8 S. Morris Ave., is free, but you must register to attend. A Zoom link will be provided upon registration.
For more information, contact the Greater Atlantic City Chamber of Commerce at 609-345-4524 or email email@example.com.