The Boraie Difference
For many Real Estate Development Moguls, the risk of building in areas that are far less than ‘prime’ locations is too high. Many investors aren’t willing to wager their deep pockets on something that could essentially fail. This is where Boraie Development deviates from the typical developer. In the real estate arena, there are many areas that are failing due to the lack of new builds. The Boraie Team changed that, with deliberately seeking out build sites in distressed areas, to hopefully encourage growth in the local economy. Atlantic City, for example has many casinos, but 85% of the employees live outside of the city. Boraie has made the move when others refused, soon opening their brand new luxury residential Apartment Homes they hope to fill inside Atlantic City. For more details visit Crunchbase.
Urban Development At It’s Finest
Boraie Development is a large, privately owned real estate company that encompasses property management, new multi-level builds, as well as sales. Based in New Jersey, they focus on the the distressed areas in urban communities. By offering these beautiful homes, Boraie intends to promote economical stimulus. Areas like Newark and New Brunswick are notably struggling, and building large units for multiple residents this gives potential renters desirable options within the cities.
Shaquille O’Neal Proudly Dubs His $79M High-Rise “Shaq Towers”
One celebrity in particular has an absolute connection with Newark, New Jersey. A Legend in Basketball, Shaquille O’Neal is commonly referred to as the greatest player of all times. Now, he will be a legend in the Real Estate sector, with a 79 Million dollar high-rise going in that he himself invested in. The high-rise titled “Shaq Towers’ is the first of it’s kind to be built in the area in over fifty years. Shaq remembers the city he grew up in as a beautiful place, and he intends to recreate that beauty with this luxury apartment development. Partnering with Boraie, the future of Newark is optimistic with buildings such as this going in, and Shaq is proud to be a part of developing this site. Nearby is the newest addition to celebrity chef, Marcus Samuelsson’s cache of restaurants. Additionally the apartment homes will be within walking distance from major shopping centers, Whole Foods, and New Jersey Performing Arts Center. Check out pressofatlanticcity for more.
Going Once, Going Twice, GONE
Applications for leasing become available as early as September, and with Shaquille O’Neal and Boraie Development behind the magic, chances are the building will not stay vacant long. Due to the gorgeous homes that will be available, and the celebrity status of the investor, there will be no shortage of potential residents.