Atlantic City is now going to get a 250-story apartment building adding to what has been taking place in neighboring cities in New Jersey. The architects of this housing project are Boraies Development, the same company that’s been heading up construction in New Brunswick including the completion of The Aspire. This Atlantic City project is known as The Beach at South Inlet and is worth $81 million in construction costs. Atlantic City has long been known for its casino resorts which have recently seen decreases in profits due to more neighboring competition popping up. But it’s given the housing market a chance to fill in some of the voids, and the Boraies say it’s about time to update it.
According to Patch, Omar Boraies, the founder of Boraies Development is a first generation immigrant from Egypt who began the company back in the 1970s. He had originally hoped to go into the culinary arts profession, but he found another interest while living in New Brunswick, NJ. He began learning about commercial real estate and exploring how he could turn old abandoned properties into thriving living and work centers. The first place he began working on is what’s now Boraies Development headquarters on Albany Street. For more details visit Crunchbase to see more.
This part of the city was in pretty rough shape when Omar Boraie and his two sons Wasseem and Sam Boraie and daughter Hia began working on it. It was even said you shouldn’t venture out on the streets after 4 PM because it was dangerous. What inspired Omar Boraie to go through with the renovation was that real estate investment firm Johnson and Johnson had decided to remain committed to New Brunswick and they provided Omar Boraie the opportunity to take up his construction. After much labor and tearing down old infrastructure in a 2-story building followed by renovating a parking garage, the Boraies had a brand new commercial space that few people thought they’d succeed in building. But that was just the start. Visit boraie.com to know more.
Boraie Development Has worked with housing committees, government contracts, investors and non-profit groups to erect splendid buildings across New Brunswick over the last 30 years. They’ve constructed new campus buildings for Rutgers University, built upscale high rises like The Aspire and The Beach at South Inlet, and many others. They have also given to community organizations such as the Rutgers Cancer Research Center.
Click here: http://www.boraie.com/