For the past 25 years, the real estate market of Atlantic City has not seen so much activity but that is about to change following the announcement of an injection of more than $80 million aimed at setting up one of the biggest real estate projects within the city in recent times. The project dubbed The Beach at South Inlet will be built by Boraie Development LLC and is expected to be a 250 unit apartment complex which will be situated strategically at a lot surrounded by New Jersey, Atlantic, Pacific and Connecticut avenues. The project is targeting the over 50,000 people who live and work in the town.
Business analysts have referred to the move by Boraie Development LLC as a show of confidence into a very positive future for the city after a decade of decline following the weakening of the gaming industry especially from the bordering states stating that more projects from other nongaming industries such as the real estate industry should be encouraged as a conscious and deliberate effort of stabilizing the city’s economy and the region at large.
While taking the local media outlets on a tour of the site, Boraie Development LLC Vice President Wasseem Boraie that they are targeting the young demographic adding that they are aware that this demographic of renters know exactly what they want hence the need for the complex to be able to satisfy that need. Mr. Omar Boraie also said that the complex will definitely have ultra-modern amenities including but not limited to swimming pools, gymnasiums, and resident’s lounges a move widely seen as an effort to tap to the younger generation segment of the market. For more details visit Crunchbase.
According to recent research, well over half of the housing stock in Atlantic City is quite old with some units reported having been built more than 40 years ago hence this is a much welcome move which will give the city a much needed modern look. Check out pressofatlanticcity to see more.
About Boraie Development LLC
Boraie Development LLC is a business organization that offers a wide range of real estate related services especially aimed at the urban real estate market. The most common services that the company offers which also form their main divisions include Real Estate Development whereby they apply their deep knowledge and vast experience spanning more than 30 years to set up projects that simply work. They also do property management while at the same time doing the sale and marketing of properties.