Scheduled to break ground in early 2025 on vacant land along Tennessee Avenue, The Top Hat at The Orange Loop will bring a blend of hospitality and commerce to the heart of the city, according to Lakehurst-based real estate developer RMS Capital.

Drawing inspiration from two of the game’s original pieces, the three-store structure will feature a top hat on the roof and a racecar protruding from the façade.

Inside, the ground floor will offer 1,400 square feet of commercial space. The upper level will feature a boutique-style short-term rental that can accommodate up to 12 guests and a rooftop deck with sweeping views.

RMS Capital did not specify an address for the property but said it will be in the heart of the Orange Loop, a dynamic corridor known for its mix of restaurants, nightlife and entertainment venues.

The area also borrows its name from the Monopoly board game and includes the beach blocks of New York Avenue, St. James Place and Tennessee Avenue — orange properties in the game.

Reinventing Orange Loop

Located just steps off the world-famous boardwalk, the Orange Loop aims to attract visitors seeking a more local and authentic experience beyond the casino floors.

According to RMS Capital, The Top Hat at The Orange Loop will be designed to cater to modern tourism trends, offering concierge services to guests that encourage exploration of Atlantic City’s diverse dining, entertainment and cultural options.

Mark Callazzo, RMS Capital’s managing partner, says the project will be “a game changer for Atlantic City.”

“We’re not just building a structure – we’re creating a space that will serve as a landmark for residents and visitors alike,” he said.

“The Orange Loop has come a long way from its ‘Dead Zone’ days, and this project represents the next step in its evolution. It’s about revitalizing the area, supporting local businesses, and offering unique experiences that drive tourism and economic growth. The Top Hat is more than a building; it’s a symbol of Atlantic City’s resilience and innovation.”

Callazzo went on to say the project reflects his belief in the city’s “bright future.”

“From supporting local entrepreneurs to providing a unique space for visitors to stay and explore, The Top Hat is about investing in the people and businesses that make Atlantic City such a special place,” he said.

An expected opening date will be announced following next year’s groundbreaking. Updates on The Top Hat at The Orange Loop will be shared here.