Boraie Development is one of New Jersey’s top construction companies that has been building new commercial and residential buildings in partnership with private contractors, government agencies and non-profit urban development organizations. Right now they’re building new apartments in Atlantic City as part of their new Beach at South Inlet condominium. Atlantic City is experiencing some demographic shifts and also may be looking for new attractions to sell tourists and college students as many of its casinos have closed down recently. But as new businesses are starting to be brought in, Boraie Development says that its apartments that have a lot of modern features that will fit what most younger tenants are looking for in their housing.
Boraie Development is run by Omar Boraie and his two sons Wasseem and Sam, and his daughter Hia also has administrative responsibilities there. Omar Boraie started the company in New Brunswick, NJ during a time that the city’s economy was collapsing, and the downtown neighborhoods were becoming abandoned and crime-ridden. While even some of the top local real estate companies at the time were calling the city a lost case, Omar Boraie wasn’t and one reason he felt he could invest in downtown properties and do something with them was because the city’s top health provider Johnson & Johnson announced they would stay in New Brunswick. So Boraie started buying the properties and beginning with Albany Street turned them into brand shiny new spaces. Check out Bloomberg to see more.
Albany Street was Omar Boraie’s first purchase and there he took an abandoned 8-story building and parking garage and put his company headquarters surrounded by other company offices and small shops and started bringing traffic back to the area. That 8-story building was tower one, and Boraie soon put up tower two which brought more of the same and soon the whole plaza was looking much different than the dilapidated lot that Boraie had found it. The company soon was hired to take on more contracts, and soon they moved in on New Brunswick’s residential properties and introduced a Manhattan-style high rise on Spring Street that brought in some of the first modern housing, and it became leased out in a very short time. More housing would follow with construction of The Aspire, and the Beach at South Inlet is the latest of these projects. Boraie Development also happens to be a donor to Rutgers University’s Genomics Science Lab, and Rutgers awarded Omar Boraie the Omar Boraie Chair on the University’s board. Check out his website boraie.com