Atlantic City celebrated a major redevelopment milestone on Wednesday as K. Hovnanian Homes officially broke ground on the Terraces at Absecon Inlet. BreakingAC.com reports the new waterfront project will bring 38 upscale, four-story townhomes starting in the high $700,000s to an inlet area that has sat barren for decades. Local officials praised the breakthrough, crediting city leadership and local community groups for overcoming long-standing land assembly and flood-risk barriers. Mayor Marty Small emphasized that this project is just the beginning, signaling a wave of upcoming developments meant to invest in the city's future.