Boraie Development is in charge of a project that will bring to Atlantic City its first market-rate development in a quarter century. The Beach at South Inlet is a $ 81 million complex compounded by 250 brand new apartments in a lot surrounded by Atlantic, Pacific, NJ and CN avenues. This brings a pinch of light for a city that has become accustomed to bad news in the past 10 years when the closure of casinos and resorts were common in the World’s most famous playground. The City seems to start evolving from its gaming past to new types of investments like the one brought by Boraie. This will provide Atlantic City with a much-needed modern housing supply since around 61 percent of the city’s houses are older than 40 years. As Boraie’s Vice President, Wasseem Boraie said to the press: “new generation of renters knows what they want,” and he also said the complex will include different facilities such as gym, pool and lounge.
Omar Boraie sees this as an exciting opportunity to get in a whole new market, “We felt (there were) going to be incentives for those developers willing to take a first-mover risk,” he says. “That’s what we do. In every market we’re in, we’re first.” It will be an immense task for the real estate moguls since the place where they plan to build the complex is one of the most consistently unfruitful areas in AC, as all the surroundings of the empty Revel Casino-Hotel looks like they came out from a Western or a post-apocalyptic movie. Check out their website boraie.com
But Boraie loves challenges, as he believes the city is evolving “from more of a cowboy economy to a more diversified economy (…) which you need for sustainability” as he cites examples like AtlantiCare, the William J. Hughes Technical Center, the future Bass Pro Shops, the soon-to-be renovated Pier Shops, and Richard Stockton College as important investments for the revival of Atlantic City as it now has a lot of well-remunerate employments not coming from the gaming industry. This causes a window of opportunity for Boraie as there’s a need for comfortable multifamily housing and the 250-apartments complex they have started responds to that demand. The future seems promising for both Boraie and Atlantic City. The Vegas of the East is coming back… Reloaded.
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Sam Boraie, a renowned developer, has saved Newark from the ravages of urban sprawl. Considering that the insecurity has forced many people to leave some parts of the city, the vacant lots have continued to exacerbate the problem. Considering that urban sprawl has increasingly become a problem in Newark, including some recreational features for the community was vital. Sam Boraie initiated the development of an ultramodern movie theater that will revitalize this part of the town. Such real estate development strategies have made Boraie development one of the most sought-after real estate developers in the world. Sam Boraie is a renowned philanthropist and realtor who has excelled in his niche.
Sam Boraie has taken a proactive approach to solve the problem by introducing a couple of infill projects to bridge the gap. According to PR News, in Newark, Sam Boraie collaborated with Shaquille O’Neal to develop a magnificent high-rise building. With massive retail and residential space, the project will cost more than $70 million dollars. Newark offers plenty of lucrative opportunities for investors who want to get maximum value for money. The architectural design concepts will guarantee that the property values will continue to rise. Sam Boraie understands that developing a commercial project in a residential zone can lower the property values. In retrospect, building a residential project in a commercial zone can also inhibit the growth of the city. Sam Boraie advocates for the mixed-use real estate projects that provide ample rental units, affordable homes for sale, shopping facilities, and recreational spaces.
By developing a quiet a residential project that suits the needs of the community, while reducing congestion and sprawl, Boraie Developments have done it again. This project provides an array of residential, commercial, and recreational facilities to the public. Besides developing the properties for sale, Boraie Development also deals with property management. In a report by Bloomberg, by hiring a couple of experienced property managers, Boraie ensures that these homeowners enjoy the comfort without having to worry about the routine maintenance operations.
Professional management strategies are instrumental when it comes to meeting the needs of the rental investors who do not have the time or expertise to manage or carry out the repairs and renovations of their homes. In addition, undertaking such operations on behalf of the renters can help to prevent the structural problems that might result from the poor renovation practices.
Boraie development vets the contractors before identifying the competent practitioners for the job. Sam Boraie (https://www.crunchbase.com/person/sam-boraie#/entity) has a special real estate sales team that addresses the needs of the prospective homebuyers. Instead of getting information online, or from the real estate listings, consulting the sales team can help a prospective buyer to find a property that suits the budget and preferences. In addition, booking a property early can help a buyer to save thousands of dollars. Sam Boraie has established several structures that help to make the transactions as smooth as possible. Besides getting as much information as possible from the brochures, a buyer will choose from the vast array of available financing options.