Next summer will see Atlantic City’s first market-rate development since 1993. The Beach at South Inlet is expected to bring 250 new apartments to the area. The site is located in the block surrounded by Atlantic, Pacific, New Jersey and Connecticut avenues and will include luxuries such as a pool, gym and resident lounge.
The $81 million project is overseen by Boraire Development LLC. Based in New Brunswick, the company offers expertise in real estate developing and property management. Many developments have been created in the company’s 30-year history. One of the first was Albany Street Plaza Tower One was built in the 1980’s. It consisted of 250,000 square feet and provided Class A office space.
Another of Boraire’s creations is The Aspire. This is a 17-story residential building that is located in downtown New Brunswick. The selling point is that it is next to the train station giving residents access to service to New York. Also included in The Aspire is a rooftop patio and garden, ample onsite parking, a 24/7 doorman, and a community kitchen and lounge. Not bad for $2,700 a month!
In addition to developments in New Brunswick and Atlantic City, Boraire has partnered with basketball giant, Shaquille O’Neal in a development deal to revitalize parts of Newark, New Jersey with a $65 million residential project. One Rector Street is a 23-story tower which houses 169 market-rate rental units. It is the first high-rise built in the city since 1960 and is directly adjacent to the New Jersey Performing Arts Center. For more details visit Crunchbase.
The man behind the vision is Omar Boraire. Together with his son, Wasseem, he sat out to revitalized New Brunswick. Mr. Boraire feels that he is helping companies gain more employees by bring them into downtown New Brunswick to live. He states that by offering luxury residential apartments and condos, more people will want to live downtown and be closer to work. Regardless of his development location, Boraire strives to give consumers what they want. He believes that a new generation of renters knows what they want, and Boraire is ready to deliver. You can visit their website boraie.com