Atlantic City is now seeing a new apartment high rise coming to town that real estate investors are saying is coming up at just the right time. This new housing space is an $81 million project known as the Beach at South Inlet that one of New Jersey’s premier construction companies, Boraie Development is undertaking. Atlantic City certainly is best known for its casino territories, but with increased competition from the outside the city has been seeing downsizing in its gaming resorts. But it’s allowed Boraie Development and other urban planning groups to focus on other needs in the city. Wasseem Boraie, a leader at Boraie Development says with the city’s aging housing districts, upgrades have been long overdue to appeal to younger generation workers. This project is one of the latest in the Boraie’s vision to rebuild New Jersey.
According to Patch, the vision really is actually Omar Boraie’s, the founder of Boraie Development. But his children, Wasseem, Sam and Hia are more than willing to carry it on even as the elder Mr. Boraie nears retirement. Omar Boraie came to the US from Egypt back in the 1960s after completing his undergraduate work in the field of chemistry, and he entered the grad school and doctorate program at Rutgers University with the plan to remain in America. He did some searching through the New Brunswick real estate market for a house, but amidst that he noticed that much of the city’s housing and retail space was falling apart. Large sections of the downtown were abandoned and in need of major improvements. But Omar Boraie decided he could be the one to undertake this seemingly impossible task of rebuilding the city. For more info visit his website boraie.com
Indeed, when he met with private contractors and city council members, most laughed at the idea of Omar Boraie investing in the rundown buildings. What drove him to keep going was that the health provider Johnson & Johnson had announced that they would keep their offices in New Brunswick, and Omar Boraie’s new company Boraie Development decided it was time to add to Johnson & Johnson’s neighborhood. Over the next 20 years they began constructing new retail and office space all across Albany Street. It allured new clients to the area that before long, New Brunswick was experiencing a new commercial boom. But it’s been the residential section of New Brunswick and the greater Newark area that’s seen new complexes erected by Boraie Development including the Aspire and others.
Click here: http://www.boraie.com/