As reported by The Press of Atlantic City, Boraie Development LLC is scheduled to launch a 250 apartment project next summer. Branded The Beach at South Inlet, the project marks a great step up after a 10-year glide in the city’s development. The 4-acre complex lot bound by Pacific, Atlanta, Connecticut and New Jersey avenues is anticipated to house the 50,000 population working at the resort town.
According to Wasseem Boraie, the company’s Vice President, the new complex will be equipped with modern amenities, including gym, courtyard residents’ lounge, and swimming pool. This is in order to meet the modern housing demands of the current generation who know what they want. The project is therefore expected to revive the city’s aging housing stock. According to a research conducted by neighborhoodsout.com, 60% of the city’s housing stock is over 40 years old.
Frank Gilliam, the mayor-elect, applauded the project as the city’s first market-rate in more than 25 years. According to Gilliam, every city needs an updated housing stock. He said the project will promote population growth in the resort town. According to Sam Boraie, the launching of Hard Rock’s property and the possible reopening of the Revel Casino-Hotel will attract residents to the area. As revealed by Hard Rock, the renovation project will generate over 3,000 permanent and 1,000 construction jobs. Boraie says this together with Revel reopening will provide 5,000 new jobs thus increased demand for residential units. Boraie also envisions the beaches near the property as an attraction for individuals renting such properties as second homes. For more details visit Crunchbase.
About Boraie Development
In a report by Patch, Boraie Development was established in 1986 by Omar Boraie, currently the President of the company. He started by buying neglected packages at Albany Street and later opened the Albany Street Plaza Tower One in 1988. Based in New Brunswick, the company currently offers property management, real estate development and marketing services.
The company partners with architects, financial institution, and constructors who work to ensure quality delivery of projects within the stipulated time-frame. Boraie Development’s property management functions include accounting, administration, leasing, maintenance, and marketing. The company’s long experience and reliability have promoted its reputation and made it one of the most sought developers in the region. You can visit their website boraie.com to see more.
Click here: http://www.boraie.com/