Boraie Development: Investing in Atlantic City
The city of New Brunswick in New Jersey was a victim of white flight during the 1970s, a phenomenon when the upper class and the middle class families of a city decided to leave for better opportunities in other places. The downtown area of New Brunswick transformed into a blighted neighborhood, and the condition of the city’s urban decay became more evident. It was Omar Boraie who envisioned that the city can be redeveloped and revitalized, but many people stated that what he is thinking is impossible. With the help of the real estate development company that he established, Boraie Development, Omar Boraie started purchasing dilapidated structures in the downtown area, and transformed them into high rises. The skyline of New Brunswick changed gradually, and decades later, people started returning to the city and the economy started to rise once again. Boraie Development is instrumental in putting the life back to New Brunswick, and after they successfully revitalized the city, they started to work on other projects around New Jersey that would enable its cities to come back to life.
According to Patch, Boraie Development’s new project is situated in Atlantic City. The settlement located on the eastern part of New Jersey suffered the same fate that New Brunswick experienced. Several years ago, Atlantic City is the place to go for entertainment and casino purposes in the Eastern Seaboard of the United States. The city is teaming up with life, and people from all over the country decided to live in Atlantic City because of the opportunities that the city offers to its residents. However, the establishment of casinos outside Atlantic City crippled its gambling industry, resulting to the stagnation of its economy. Many people left the city, and the 40,000 people who decided to stay are thinking how they can revitalize Atlantic City. Boraie Development came to the rescue, and they invested in the city building a new set of structures. Wasseem Boraie, the vice president of Boraie Development, spearheaded the construction of a 250 unit apartment complex in the city called The Beach at South Inlet. The project costs $81 million, and it can house up to 50,000 people. Check out their website boraie.com to see more.
According to Boraie Development, the construction of The Beach at South Inlet is one of the upcoming projects that would be built within the city. More hotels and restaurants are planning to reopen, and the people of Atlantic City are hoping that it would usher a new era of development for their beloved hometown.
Click here: http://www.boraie.com/