It’s been many years of investing in the greater Newark, New Brunswick and Atlantic City areas of New Jersey that Boraie Development has seen pay off into a better outlook both economically and for tourist activities in those cities. But the head of the company Omar Boraie sees his work as far from being finished, and his sons Wasseem and Sam have worked alongside him and when he retires, they plan to continue his work for generations to come. The latest project started by this real estate firm is the Beach at South Inlet in Atlantic City, a new multi-complex apartment building right on the edge of the beach with all kinds of on-site amenities including an outdoor pool and gym, and it’s in a prime location near public transportation and the beach area. Every new project that has come out in residential units is especially tailored to meet the needs of millennials says Wasseem Boraie. For more details visit Crunchbase.
Boraie Developments beginnings came back in the early 1970s during a time that Omar Boraie felt the troubles facing New Jersey’s cities could be remedied by bringing better quality commercial and residential properties. Omar Boraie had gotten his university degrees in Chemistry and was working on his doctorates at the time and had no previous experience in real estate, but he had a sharp acumen that could learn quickly, and he began buying up downtown properties in New Brunswick through private financing. Despite the criticism he received about undertaking this endeavor, he had heard that one of the city’s largest employers Johnson & Johnson had decided to remain there, so he pressed on in his investment. Check out State Theatre New Jersey for more.
Boraie Development’s first renovated lot was a plaza on Albany Street which today has buildings known as tower one and tower two, a parking garage and a shopping center that’s brought in much needed business activity to the city. The company’s housing investments first started taking off when they had a 25-story apartment building built on Spring Street that has housed both city workers and Rutgers students. That one was followed up by several units in a satellite campus project for Rutgers University, and in 2014 Boraie Development also completed construction of The Aspire. This apartment complex not only has the amenities that the current Beach at South Inlet has, but also has easy access to the metro lines heading into the greater New York City areas. Not only has Boraie Development put a lot into real estate, they’ve also given to many local charities and are the key contributors to the Genomic research department at Rutgers.