Atlantic City Faces $10m Lawsuit Over Failed Housing Project
Key Takeaways Atlantic City is facing a $10 million lawsuit due to bond obligation defaults by developers involved in a failed housing project. The failure of this project impacts affordable housing efforts, which is critical given the region's shortage of 200,000 affordable units. Community and political leaders are demanding accountability as tensions rise over the city's unfulfilled promises of the past. Housing Crisis Unfolds in Atlantic City Atlantic City is on high alert as it faces a $10 million lawsuit over a failed housing project. Developers Greenland Forest City Partners, in collaboration with Empire State Development, have defaulted on bond obligations, affecting critical affordable housing efforts. This setback comes amidst a dire shortage of 200,000 affordable units region-wide. Community and political leaders demand accountability. With tensions rising, the specter of past failed promises casts a long shadow over the city's skyline. Uncover the full story of ...