Boraie Development Continues to Shine in the Real Estate Industry

Boraie Development is a real estate developing and marketing company in New Brunswick. The company is known for working with dedicated investors, talented architects, and contractors who understand the value of time. The company started operating thirty years ago. Since inception, Boraie Development has been dedicated to building spectacular properties for residential and commercial purposes.

Over the past ten years, Boraie Development has built over one million square feet residential and commercial property. Majority of their projects are in New Brunswick in New Jersey.

Shaquille O’Neal, a basketball star, has been working with Boraie Development to develop his hometown. One of their projects is a $60 million rental property in Newark. The partnership between Shaquille O’Neal and the real estate company is promising as they have other projects underway and more are to come.

Boraie Development greatest project is The Aspire. The Aspire is a seventeen-story tower that features a spacious studio, one and two bedroom residences. It has a total of 238 residential units. The apartment is located at the center of New Brunswick. Thus, cafes, restaurants, bars, and the train station are a few steps away. The residents enjoy panoramic views and a rooftop garden. The apartment has a 24/7 doorman lobby to ensure the place is safe for playing and resting. The Aspire has an attached parking facility with an elevator straight to the lobby. Individual storage facilities, as well as indoor biking storage is available. There are indoors and outdoors resident clubs for play, rest and work. Residents at The Aspire apartments will have nightlife experience like no other. They also enjoy delicacies and amazing shopping experience from the neighborhood.

The Aspire is close to Robert Wood Johnson Hospital System, a cancer institute for children. Thus, children get to live in a lively environment, and there is a hospital in the neighborhood when they need treatment. There are 10,000 square feet of retail space to rent. Other amazing features of the Aspire include in-home washer and dryer, energy efficient heating units to reduce energy bills in winter, designer kitchens, cables, and fast internet and carpeted bedrooms.

The Boraies are  . Since the ’80s, the family has donated over $312,420 to New Jersey political causes. According to Wasseem Boraie, the donations are not meant to influence the officials in their areas of work, but to ensure good leaders are chosen in New Jersey. People are happy about the recent projects by Boraie Development.

DEVCO Reasserts Their Confidence in the Heldrich Hotel Project

The Heldrich Hotel remains the center of a development project that has failed to meet expectations. The 235-room hotel opened in 2007 and has continued to struggle throughout the recession and the economic recovery. Because of its low occupancy rates the business was forced to use its own operating capital to complete renovations. Principal and interest payments in the amount of $1 million were not made in January.

Chris Paladino, the head of the non-profit organization managing the project expressed frustration with the current events, but felt that the project has still remained a success. In an article published on the Press of Atlantic City website, he stated that the goal of the Middlesex County Improvement Authority was to improve the neighborhood where the hotel now stands. Paladino believes this was accomplished thanks to the large amount of jobs the hotel provides for residents of the area and the additional benefits from the 100,000 people who stay and visit the hotel each year.

Paladino is the head of the New Brunswick Development Corporation (DEVCO), the non-profit involved with the project. The company was founded in the 1970s to help revitalize the area. Over the last 40 years DEVCO has overseen nearly $2 billion in projects in the city of New Brunswick and the surrounding areas.

The company is notable for its unique method of revitalization. They have focused their attention on a small, densely populated area of the city. They work with property owners, government organizations and other investment firms to create mixed-use properties. The goal is to create a city that is self-sufficient, thriving and enticing to tourists as well as people seeking to relocate. Paladino, a New Brunswick resident, believes that despite some setbacks their efforts are making amazing headway towards achieving this goal.