Ever since the gaming industry collapsed in Atlantic City the area’s economy went with it. This is now slowly starting to get turned around as company’s in other industries have started to taken root in the city. The Atlantic City Gateway project, in particular, is now paying dividends as other types of industries look to expand in Atlantic City. Some of the casinos are still there but it now seems to have stabilized at an amount that is right for it there.
Another sign of progress is a new apartment complex that is being built where Pacific, Atlantic, Connecticut, and New Jersey streets bound in a large plot of land. Onto this plot there is a new complex going up that will cost $81 million. It is called The Beach At South Inlet which will feature 250 apartments. The developer is Boraie Development LLC which has been in business for almost 50 years. Check out Central Jersey Working Moms to see more.
According to WSJ, most of the houses and apartments in Atlantic City are pretty old. About 60% of them were built over four decades ago. The Beach At South Inlet will be a welcome addition to the area as it will be a modern building with modern amenities. In addition to a gym and pool it will also have a lounge for residents, for example. There are around 50,000 people that work in Atlantic City so they are looking forward to having a more upscale option than what is presently available in Atlantic City.
Omar Boraie founded Boraie Development soon after arriving in America from Egypt. He says that when he first arrived in New Brunswick, New Jersey, where his firm is based, it was a pretty awful place. He says you couldn’t go outside in the evening and even if you did there was nothing to do. He set about changing this when he bought 21 buildings next to each other in the downtown core that were either vacant or dilapidated or both.
After Omar Boraie bought these building he had the whole area leveled. A new building was built in their place, Albany Street Plaza Tower One. This was, and is, a great place to live in or work in as it features Class A office space and retail stores in addition to residential homes. Boraie Development now has a number of towers it owns and operates in New Brunswick. It is also building a new tower in Newark in addition to the new one going up now in Atlantic City.
Read more: https://www.bloomberg.com/profiles/companies/0601263D:US-boraie-development-llc
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When Omar Boraie came up with the idea of changing the real estate landscape of New Brunswick, many thought that he had gone bonkers. The seasoned entrepreneur took up the initiative of improving the real estate sector of New Brunswick, and a few years later all can agree that he has done a remarkable job. Today, the landscape of New Brunswick is no longer an eyesore. Gone are the days when the streets could spot derelict buildings that were at an advanced stage of decay. Omar’s prospects for New Brunswick have helped reshape the city’s landscape making it more attractive to its residents and visitors.
The building that holds Omar Boraie’s office is a good testimony of the real estate journey that New Brunswick has undergone. Not a long time ago, the building was an abandoned space with decaying walls and leaking roofs. Keen on carving out his won niche in the real estate sector, Omar Boraie took up the initiative of revamping the derelict structures and putting them up for letting. The high demand for houses and office space in New Brunswick worked to the advantage of the entrepreneur. Some of Omar’s most notable establishments include the One Spring Street Apartments and the Two Towers project. Owing to the rise in demand for residential space, One Spring Street project was sold out within a brief time. According to Omar Boraie, much of the gratitude should be directed to those who believed in his dreams for New Brunswick and not him. The culture rich town of Brunswick owes a lot of gratitude to Omar Boraie.
Sam Boraie is another icon in the American real estate industry. The entrepreneur founded Boraie Development LLC in the mid-80s. Sam’s company offers a broad range of solutions in the real estate sector ranging from office spaces to luxury homes. Boraie development is credited for the design of some of the most iconic structures in New Brunswick. Check out Central Jersey Working Moms.
According to Rutgers, the latest mega project that Boraie Development is handling is called Aspire. This project comprises of 17 stories of luxurious apartments that go for $2,800 per month. The building also has designated spaces for offices. Boraie’s success story in the industry of construction is an inspiration to many entrepreneurs who are trying to get their footing in this sector. One of the things that motivate Sam Boraie is the look of satisfaction on a customer’s face when the company delivers a solution to them.