NEW JERSEY REAL ESTATE IS LOOKING TO REDEVELOPMENT

Boraie Development is leading the way to revitalizing a long languishing stretch of land in New Jersey’s Atlantic City, according to a recent story in the Press of Atlantic City. The proposed development would bring much needed market rate rental apartments to an area that’s long been in need of housing suitable for today’s millennials, and would be a boost to this very neglected spot.

The Boraie Development project is being called The Beach at South Inlet, and it is a 250 unit apartment complex built in a modern, geometric shape that surrounds an appealing courtyard and pool. It’s all being created with the millennial market in mind, and the sleek style shown in the plans by Boraie Development LLC have had members of the Casino Reinvestment Development Authority Board of Directors feeling hopeful and enthused about the future of the area, which is referred to as Blocks 132 and 133.

How did an 8-acre parcel of land stay vacant for so long in this city? The South Inlet area was once a neighborhood of single family residences, but the area was largely bulldozed back in the mid-1960s to make way for what was supposed to be a new and vital housing development. The development, along with many other proposed revitalization projects never came to be, and neighbors in the adjoining areas speak of looking at the bleak, weed-strewn area and wondering if a new project will ever take off there. With the new plans being talked about from Boraie Development, it looks as if new housing and a new sense of excitement about Atlantic City real estate may finally come to pass and become a reality.

Key members of the CRDA board have spoken about the development idea with great enthusiasm. The hope is also that The Beach at South Inlet might also be a crucial catalyst to other residential building happening in the adjoining areas. That’s a vision that would obviously be win-win for this too long forgotten piece of Atlantic City.

A vote is due September 30 which will decide on the allocation of funds. It’s hoped that the vote will go in favor of the project, with more revitalization of New Jersey to come.

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