According to an article in today's Press of Atlantic City ... there is a regulation in effect which prohibits buildings that parallel the Boardwalk to be no more than 6 or 8 stories high. However, those builings which are constructed perpendicular to the Boardwalk can soar much much higher.

So the lower building levels facing the Boardwalk are usually retail/commercial operations with Boardwalk frontage... while this new proposed luxury condo/suites building will be situated in the much larger "L" portion, perpendicular to the wooden way.