Atlantic City Could Be Due For A New Housing Surge Says Boraie Development

Atlantic City, NJ has seen a slowing down in some of its casino resorts because new ones have been popping up in the states of Pennsylvania, New York and Connecticut. But that’s also given the city the chance to grow it’s residential and other commercial real estate markets and address the need for new buildings. Boraie Development, a longtime real estate investing and construction firm is planning to address Atlantic City’s housing needs through an $81 million project known as the South Inlet Beach which will bring in 250 new apartments as well as other entertainment space. It will be one of the first steps taken to replace housing stock that’s mostly older than 40 years.

When it comes to building new apartments and office space to meet the needs of Newark and New Brunswick business people, Boraie Development has delivered with high rises and ground facilities of the finest quality. It’s Omar Boraie, an Egyptian immigrant who has made New Brunswick’s finest housing a reality by believing he could change the face of the city, and sticking to the resolution. He had come to Rutgers University to finish his doctorate degree in chemistry, and while searching for his own house saw a large amount of abandoned rundown buildings across New Brunswick. He figured this would be a great opportunity for real estate investing and that nobody else was going to do it. For more details visit Crunchbase.

According to Patch, Omar Boraie started telling people about how he was going to turn an abandoned lot on Albany Street into a thriving business hub. Most people thought he was crazy to think he could do it, but he had faith that his work would bring hope to the city. And he especially became encouraged in his work when Dick Sellers, the CEO of Johnson & Johnson announced that the company would remain in the city. Check out his website to see more.

The Boraie Development’s first accomplishment was tower one in what’s now Albany Plaza. Tower two would follow along with several others until the area that was once known to be unsafe to visit during the evening soon became the thriving business hub that Sam Boraie envisioned it to be. Not far from there is The Aspire, one of New Brunswick’s finest apartment complexes that’s been looked at as a housing masterpiece. In addition to his career in real estate, Omar Boraie also has an interest in genomics and holds the prominent Omar Boraie Chair at the Rutgers Genomic Science Department.

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