For Immediate Release:
December 10, 2008
4TH ANNUAL BUS TOUR FOCUSES ON ATLANTIC CITY'S
PAST, PRESENT & FUTURE
New Jersey Association of REALTORS® Housing Opportunity Foundation, Inc. Tour Highlights Redevelopment Efforts
(Atlantic City, NJ) - The New Jersey
Association of REALTORS® Housing Opportunity
Foundation, Inc. (NJARHOF) hosted its fourth
annual bus tour today, which focused on
revitalization efforts throughout Atlantic
City. The tour was offered to attendees of
the Triple Play REALTOR® Convention and
Trade Expo. Triple Play, the region's
largest annual real estate convention, is
hosted by the New Jersey, New York State and
Pennsylvania associations of REALTORS®.
The bus tour highlighted Atlantic City's
varied neighborhood-based community
development initiatives. Presentations were
made during the tour by members of
organizations that are working to support
the revitalization efforts, including
Michael Calafati, AIA, of Historic Building
Architects, LLC; Richard Jinks, Senior
Vice President of Procida Realty &
Construction Corporation; and Edward C.
Einhaus, Director of Real Estate at the
Casino Reinvestment Development Authority (CRDA).
Christina P. Clemans, president of NJARHOF,
also was in attendance to talk about the
work of the Foundation.
"The tour showcased the progress Atlantic
City is making on its redevelopment
efforts," NJARHOF President Christina
Clemans. "From workforce housing to luxury
condominiums, the tour gave people a chance
to see firsthand the variety of residential
and commercial real estate projects that are
underway. It is amazing that in the four
short years we have been hosting this event
the tremendous strides that have been taken
towards reinventing Atlantic City."
Stops included various housing, commercial
and institutional projects involving new
development, rehabilitation and historic
preservation that are adding to the
revitalization of the city. The first stop
on the tour was the EastWind Townhomes which
is a partnership between the CRDA and
Procida Realty & Construction Corporation.
EastWind is a participant in the "Live Where
You Work" (LWYW) program. Operated by the
New Jersey Housing and Mortgage Finance
Agency (HMFA), LWYW is a home mortgage
incentive program that provides low-interest
mortgage loans to home buyers who will live
and work in participating municipalities.
The goal of LWYW is to build stronger
communities by promoting homeownership and
encouraging people to live closer to their
jobs.
Additional tour highlights include
redevelopment projects such as Bella
Condominiums. The luxury condominium project
will provide high-end housing in the North
Beach area. The tour continued with a stop
at the 3000 block of the Boardwalk to
discuss the revitalization effort, which is
the latest in a series of block-long
projects that have helped to re-image and
re-shape the area. The tour concluded with a
stop at the Chelsea Hotel. The Chelsea is
Atlantic City's first boutique non-gaming
hotel built since the 1960s. The Chelsea
represents Atlantic City's desire to expand
its tourism industry by providing a wide
variety of accommodations and activities.
The New Jersey Association of REALTORS®
Housing Opportunity Foundation, Inc. (NJARHOF)
is a 501 (c) (3) charitable organization
that seeks to create greater homeownership
opportunities for New Jersey residents. The
Foundation raises funds for housing
opportunity and distributes these funds to
other 501 (c) (3) organizations throughout
the state that provide home buyer education,
develop public awareness and create
affordable homeownership options for New
Jerseyans. For more information, please
visit
www.njar.com/njarhof.shtml.
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