Scannapieco Development Corp. is preparing a $100 million transformation of the Sheraton hotel in Atlantic City, which includes rebranding the property and converting a portion of its guest rooms into residential units.

According to CEO Michael Scannapieco, the Philadelphia-based developer plans to convert 250 of the hotel’s 500 rooms into 131 apartments tailored to the 55-and-older demographic.

*Article courtesy of Philadelphia Business Journal

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