"Standard is not only investing in the building; we’re investing in the people who call this community home. We are proud of this public-private partnership, which not only provides these residents with the peace of mind that comes with a commitment to long-term affordability at the property, but will result in nearly every aspect of the property being upgraded and modernized,” said Steven Kahn, who is responsible for Standard Communities’ acquisitions in New Jersey and Pennsylvania.

“Standard strives to connect our capital with our values. This public-private partnership is a major investment in Atlantic City that will leverage local resources to serve our residents, and renovations on the property will provide significant utility savings for the residents through our sustainability initiatives at Baltic Plaza,” said Scott Alter, Principal and Co-Founder of Standard Communities.