Just a few months ago Atlantic City, New Jersey was buzzing with the prospect of a project bringing 250 new apartments to the area. The project is expected to begin this summer. The timing is perfect considering it is on pace with the city’s first market-rate development in a quarter of a century.
The Press of Atlantic City let the cat out of the bag last winter. The New Jersey daily newspaper gained knowledge of the project after touring the Atlantic, Pacific, New Jersey and Connecticut avenues where the complex is going to be constructed. Boraie Development is heading the construction of the new apartments. The complex is worth an estimated value of more than $80 million and is expected to serve many of residents of the resort town community.
In a report by NJ Biz, this development is a huge step in the right direction for the relatively small city. For close to a decade it has been suffering due to the growing number of casinos in neighboring states. Because of this the city’s gaming industry is floundering. it hasn’t all been bad however. Many of the casinos closing left room for new investments to take place like the Atlantic City Gateway project. These new non-gaming investments may end the city’s 10 year downturn.
About Boraie Development
According to WSJ, Boraie is a real estate development company that mainly focuses on the urban real estate market. The company is both reputable and reliable having been in real estate for over 30 years. It is arguably the leading real estate development company in the state of New Jersey.
It thrives in all aspects of the urban real estate market including Property Management and Sales/Marketing. Over the years it has worked with several high level clients and and partners. In 2013, the company partnered with NBA Hall of Famer Shaquille Oneal on a real estate project in Newark, New Jersey. You can search on Yahoo to see more.