Northeast Inlet - Scannapieco Development Corporation

Northeast Inlet
Atlantic City, New Jersey

Harrah's Casino selected SDC as the developer of the first phase of the NORTHEAST INLET project. This $63 million project represented the initial phase of the highest profile public/private urban renewal project in Atlantic City. The Company arranged a complex financing package for the NORTHEAST INLET, combining Casino Reinvestment Development Authority ("CRDA") funds with an Urban Development Action Grant ("UDAG") loan and several additional state and city funding sources including: a Department of Community Affairs ("DCA") grant, a grant from the Atlantic City Improvement Authority ("ACIA"), funds from the New Jersey Mortgage and Finance Agency, as well as land grants from the City of Atlantic City. The completed project contains 130 town homes, a 12,000 square foot convenience retail center, and a 109-unit luxury mid-rise apartment building known as Ocean Terrace.



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	Northeast Inlet Atlantic City, New Jersey








Northeast Inlet Atlantic City, New Jersey Harrah's Casino selected SDC as the developer of the first phase of the NORTHEAST INLET project. This $63 million project represented the initial phase of the highest profile public/private urban renewal project in Atlantic City. The Company arranged a complex financing package for the NORTHEAST INLET, combining Casino Reinvestment Development Authority ("CRDA") funds with an Urban Development Action Grant ("UDAG") loan and several additional state and city funding sources including: a Department of Community Affairs ("DCA") grant, a grant from the Atlantic City Improvement Authority ("ACIA"), funds from the New Jersey Mortgage and Finance Agency, as well as land grants from the City of Atlantic City. The completed project contains 130 town homes, a 12,000 square foot convenience retail center, and a 109-unit luxury mid-rise apartment building known as Ocean Terrace.