The Northeastern state of New Jersey might not yet be known for being a hub for business and entrepreneurial activity but it definitely should be. The state currently serves as the home base for many large international companies including the skincare and health company that is known as Johnson and Johnson and the pharmaceutical company that is known as Merck. New Jersey has also served as the launching point for the rise of a successful family business that is known as Boraie Development LLC.
Boraie Development LLC is a company that is well known in the world of New Jersey real estate. The firm is the brainchild of its founder Omar Boraie who grew the company from the seed of an idea that he had when he came to New Brunswick, New Jersey many decades ago. While upscale development projects for both residential and commercial real estate is a fairly common occurrence these days in New Brunswick, New Jersey if you were to ask Omar Boraie about the state of the real estate market in New Brunswick back in the early 1970s he would probably be sure to tell you that things were not always this vibrant. In an interview with the local New Jersey publication NY Times, Omar Boraie tells the story of what things were once like in New Brunswick before development companies like his started doing business there. There were once dozens of buildings in the area that had fallen into disrepair and public safety was such an issue back then that, according to Omar, it was not safe to be outside in the late afternoon. Check out State Theatre New Jersey to see more.
While most professionals in the real estate world would have probably left New Brunswick and run to larger markets in places like New York City, Omar Boraie believed that the face of New Brunswick could be transformed. He reportedly purchased a number of buildings that had fallen into disrepair and developed a game plan for changing things in the 1970s. Boraie has been on a roll ever since then. Today Boraie Development is involved with a new project that will result in the construction of 250 apartment units in Atlantic City. According to the trade publication Real Estate New Jersey the project will cost $81 million to complete. The new apartment complex will reportedly be a bright spot for New Jersey and Atlantic City in particular which has been feeling the strain of having its local economy contract after the closing of casinos in the area.