A real-life Monopoly hotel is coming to Atlantic City

A new hotel inspired by the Monopoly board game is coming to Atlantic City.

The Top Hat, at 215 S. Tennessee Ave., is expected to include six guest rooms and 1,400 square feet of commercial space on the ground floor.

“We’re not just building a structure; we’re creating a space that will serve as a landmark for residents and visitors alike,” said Mark Callazzo, managing partner of RMS Capital, who is developing the site.

The hotel’s design will be inspired by the board game and include a top hat motif — an accessory donned by the iconic Monopoly game character. The theme is fitting given that the board game, which dates back to 1935, was based on the streets of Atlantic City.

The nearly $3 million project is expected to break ground in February and take around nine months to build, Callazzo said Monday. The boutique hotel will be built on a vacant lot and is expected to open by the beginning of 2026.

The hotel will have space for up to 12 guests at a time, and groups may be allowed to book the entire hotel, Callazzo said.

It is planned to operate year-round, he said.

Callazzo, who lives in Atlantic City, has been working more broadly on bringing new businesses to the Atlantic City area. He said running basic errands too often requires leaving the area.

“I have to drive offshore to get my hair cut, and I have to drive to Brigantine to go grocery shopping,” he said. “I have to go offshore to go to a gym and get my oil changed.”

In the Orange Loop development, Callazzo built out a yoga studio and short-term rentals, and opened four restaurants. The Orange Loop started on Tennessee Avenue but has since expanded to include St. James Place and New York Avenue — all of which are orange properties in the Monopoly board game, Callazzo noted.

“While Atlantic City has a lot to do, there’s a lot that it’s lacking,” he said. “The goal of this project was to give Atlantic City the main street that it once had back in the ‘50s.”

In total he estimates that $40 million in development has poured into the Orange Loop area in the last six or seven years already, including more than his own projects.

He’s working on bringing a shipping-container retail park to the corner of Pacific and South Tennessee Avenue, which is expected to break ground in January. He also wants to develop apartments, he said, because residential options are lacking.

“There is not a lot of great housing stock in Atlantic City, and what good stock becomes available, gets absorbed very quickly,” Callazzo said.

The New Jersey Economic Development Authority, which aims to grow the state’s economy, has provided support for new development projects in the area, he said, by way of grants and other assistance.