Real estate developers and leaders are holding onto the hope that they can save Atlantic City through the attraction of idealists. They hope to do this by coming up with innovative residential development. The latest census carried out on the city found out that a measly 13.6 percent of residents are aged between 25 and 34 years. By bringing on board young professionals, these developers hope that the housing and economic boom in the area will be spurred because the city will grow its tax base.
Experts believe that it is only through tactical investments that young workers can be attracted to set up shop in Atlantic City. Apartments are coming up at an alarming rate to provide the housing needs of young workers who are expected to flock into the city. Firehouses for instance are being converted into flats, which are preferred by younger residents. One of the real estate development companies, which are likely to benefit from the housing boom, is Boraire Development. Its Vice President, Wasseem Boraie states that there is already a record demand for housing units.
Wasseem Boraie’s Profile
He is among the real estate gurus in New Jersey. His company, Boraie Development LLC has helped reshape the skylines of New Brunswick and Atlantic City by coming up with impressive mega projects. For many years, he has been at the helm of the company, helping transform it into one of the largest real estate development companies in the US. In New Brunswick, the firm has been spearheading several projects, which have put it at the center of attention as far as the city’s renaissance is concerned. Mr. Boraie himself is a proactive business leader who identifies the potential in held up projects and transforms them into reality.
Mr. Boraie has been noted to be an executive who speaks out his mind. His experience has made him an authoritative and decisive figure. He came up with the idea that young professionals can only be attracted through the construction of smaller projects. Together with the company’s founder Omar Boraie, they have built a formidable team, which has no equal in the industry. The construction of large residential and office complexes such as CityPlex12 and Aspire attests to the vision that the father-son team has for the city. To gain a foothold, Wasseem has been on the vanguard in the formation of business partnerships. He was pivotal in bringing on board basketball legend Shaquille O’Neil to invest in several of the ongoing projects.