When the gaming industry in Atlantic City collapsed it took much of the city down with it. In 2007 casinos in nearby states led to most of the casinos in this city shutting their doors. Some say that the number of casinos left in the city is now the proper amount and are sustainable. Other industries are also starting to pop up in Atlantic City. One investment in the community is the Atlantic City Gateway project which has encourage new industries to open their doors.
A new apartment complex is being built in Atlantic City. It will bring what this city hasn’t seen in almost three decades which is modern housing being built. The complex is named The Beach at South Inlet. It’s an $81 development that is being built by Boraie Development LLC. Wasseem Boraie is a vice president at this firm. He says that millennials know what they want out of housing and it’s definitely not a building older than 40 years old which comprises over 60% of the housing stock in Atlantic City. His development will feature amenities these renters want such as a residents lounge and a pool. For more details visit Crunchbase.
In the 1970s Boraie Development was also one of the key companies reviving New Brunswick. The founder of the company, Sam Boraie, says that at the time businesses and people were fleeing this city. It was unsafe after dark due to deserted streets and nobody wanted to go out to a restaurant or anywhere else. He was encouraged that Johnson & Johnson’s headquarters stayed put, though, which encouraged him that the city could be saved.
Around this time Omar bought a collection of connected structures and replaced them all with a new highrise building. This was his first building in the city and he has since built a number of others. One of the latest is The Aspire which is one of the few luxury housing developments in New Brunswick. It’s located right next to a subway that takes works straight to New York and the monthly rent is $2,800 for a 2 bedroom unit. Visit press of atlantic city to see more.
Boraie Development also built a highrise in Newark. Construction began in August 2015 and it’s the first highrise in that city in decades. Celebrities turned out for the ceremony launching the construction such as former NBA player Shaquille O’Neal who grew up in that city. The building is called One Riverview and it, too, is a source of luxury housing.