Having successfully completed renovations in New Brunswick and Newark for more than three decades, New Jersey leading real estate company Boraie Development recently broke ground on a new residential complex in Atlantic City.
Atlantic City is a resort city known for its beaches, famous boardwalks, casinos and fine dining.
Wasseem Boraie, vice president at the family owned company, announced the $81 million residential apartment complex is on schedule to open in the summer 2018.
According to a story at
rental-project-rising-in-atlantic-city/, Boraie envisions this challenge as the means to making contemporary housing available to a new generation. The company has set its sights on attracting many of the 50,000 people who work in Atlantic City.
The complex, known as The Beach At South Inlet, will come equipped with hardwood floors, granite surfaces and stainless steel appliances. The apartments will also include amenities such as a fitness center, swimming pool and a spacious 10,000 square foot lounge for residents to relax. A parking garage, retail and grocery stores and eating places will also be available.
The 250 luxury apartments will be located on a four acre lot in the area of Atlantic, Pacific, Connecticut and New Jersey avenues.
Boraie also commented that this is the first apartment project to go up in Atlantic City in more than twenty years. He cited research that showed more than 61 percent of the city’s housing stock is more than 40 years old. Check out his website boraie.com
Omar Boraie considers his project, along with other projects such as the Stockton University Gateway’s satellite campus project, will create demand for the units. The new construction represents hopefulness for the future following the city’s past struggles with the gaming industry.
According to Rutgers, Omar Boraie founded the company, which is headquartered in New Brunswick, in 1986. His sons, Wasseem and Sam, along with his daughter, Hiam work together with their father to make services such as real estate development, property management, real estate sales and marketing available.
The company, which also works with prominent financial institutions, visionary architects and contractors, is reported to have annual revenues between $10 to $20 million.
Click here: http://www.boraie.com/company/