A proposal to redevelop nearly four blocks in Atlantic City’s Southeast Inlet Neighborhood, just a few steps from the Ocean Casino Resort, and bring more than 150 townhouses, recently took a step forward when members of the city’s municipal council voted to allow a third developer to join the project.
During the city’s municipal council meeting on January 21, officials voted to allow an entity known as Inlet AC Partners LLC and AC Inlet Urban Renewal LLC and Southeast Inlet Urban Renewal LLC, to act as co-developers for the project which will span over 90 parcels across four blocks.
An application to the Casino Reinvestment Development Authority filed in November shows that Inlet AC Partners, a limited liability firm affiliated with Dresher, Pennsylvania-based family office Trax Partners, intends to create 149 new lots to develop 152 townhouses. Plans indicate 4 detached homes, 1 duplex with 2 units, and 146 townhouses across 19 buildings. Each proposed unit will contain a garage and driveway and that Electric Vehicle service equipment will be provided ‘for at least 1 vehicle within each townhouse garage parking area’.
The application was presented at the Land Use Hearing on January 15 and lists Faron Schonfeld and Andrew Chalofsky, co-founders of Trax Partners, as the managers of the LLC leading the project. It also states that the parcels were previously occupied by residential homes from 1930 to 1980, but are now vacant. The application also notes that not all parcels are owned by the applicant; they are owned by separate entities, including the city, CRDA, and two private investors based in Rutherford.
While the proposal will largely develop parcels to the south of Oriental Avenue between S Rhode Island Ave and S New Hampshire Avenue that have been empty for many decades, the project site itself looks more like several clusters across four blocks. The block between S Victoria and Vermont avenues, for example, will be developed around Tony Boloney’s and extend more than 300 feet south towards the boardwalk. The site plan for the two blocks to the east, between New Hampshire and Vermont avenues, also appears to be built around several parcels, but the entire site plan, according to a staff report from CRDA, is approximately 6.4 acres.
Jersey Digs could not contact Trax Partners before press time.
Although there is still no official timeline for when the developers expect to break ground, the project will become part of one of the neighborhoods in Atlantic City that has seen significant new investment in recent years.
Jersey Digs reported in 2024 that a developer was actively working to bring 8 single-family homes to 12 South Hampshire Avenue, just two blocks north of the Inlet AC project near the Absecon Lighthouse. That project is being headed by developers Keith Groff along with MPMB Developers, and is located near another project led by developer K. Hovanian Homes, which intends to erect 38 new townhomes as part of a plan to bring more than 300 additional homes to the city.
