Atlantic City, the city often visited for its casino and gaming attractions is undergoing a bit of an economic change, and with neighboring states starting to open more casino resorts and oceanfront hotels, Atlantic City is looking to add new industries to its identity. But one real estate investment company, Boraie Development says Atlantic City needs to build up its housing because with new jobs come new workers who have their ideas of what housing they would like. Boraie Development is building the Beach at South Inlet, a 250-apartment property that has extensive amenities and services included in it, and one that Boraie’s leaders believe could start an influx of younger residents to the city. This property is one of the largest additions to a portfolio full of commercial and residential projects.
Boraie Development has particularly targeted young people looking to rent or buy homes, but they’ve also improved the appearance of cities for business owners and public service officials. The plans for what Boraie Development has done thus far were conceived by Omar Boraie, the founder and Chairman of the company. Boraie is an immigrant who witnessed a decaying city in New Brunswick back in the 1970s, and with most businesses going out and nothing being invested into bringing new buildings to the downtown, he decided to do it himself. He amassed the capital to start buying properties across the city and started employing contractors to redesign them. Most people thought he was wasting money on this project, but as his buildings such as Albany Street’s Tower One started to be completed, people started moving into them. You can visit their website boraie.com
Omar Boraie and his sons Wasseem and Sam have always been people to believe in trying new things, or seeing what’s worked elsewhere and introducing it to the New Jersey landscape. They decided to try a Manhattan-style apartment high rise in a location that could help New Brunswick’s downtown workers, and most critics thought it would be unattractive to prospective renters. But they were wrong because the apartments became filled up within just three months. Bringing more novelties into New Brunswick continued when Boraie Development finished the 18-story Aspire property in 2014 which has been a major benefit to both Newark and Manhattan in how it’s positioned. Omar Boraie earned his doctorate from Rutgers over 30 years ago, but he’s also continued to support the university and as a thanks to his generosity, Rutgers named a special Omar Boraie Chair for him in their administrative hall.
Click here: http://www.boraie.com/company/