Borae Development has been a source of hope among years of trouble in Middlesex County, NJ specifically as they’ve worked to improve the housing and commercial properties in this area over the past 30 years and more. The way they’ve done this is by building apartment condominiums, leased office space units and other areas accommodating for retailers in Middlesex County’s cities with appeals made to millennial consumers. The vacancies and housing prices in New Jersey in general are no overnight fix, but Boraie Development has stayed true to their work over the years and they plan to keep pushing ahead come what may.
Boraie Development was founded by Omar Boraie and is managed by him and his two sons Wasseem and Sam. Sam Boraie came to New Brunswick, NJ from Egypt over 40 years ago and at that time his career was primarily in the chemistry field doing lab work and working on his doctorate. But upon living in New Brunswick for some time, he saw a city that was falling apart as far as its properties were concerned, and he realized if he didn’t start doing something about them nobody else would. He decided to go into real estate investing on his own believing that with a new makeover to properties he purchased that businesses and residents would once again start moving back into the area. Most people were skeptical of Omar Boraie’s plans, but the news that Johnson & Johnson decided to remain in Middlesex County encouraged him to follow through with his plans. For more details visit Crunchbase.
According to Patch, Boraie Development took their work to Albany Street first where one of the most dangerous areas of downtown New Brunswick was turned into a brand new shopping area and civic activity hub. The construction of Albany Street Plaza’s tower one was finished in 1988, and in 2003 tower two and several other nearby buildings were also finished and New Brunswick started turning around. The city’s first big condominium came in 2006 when Boraie Development capitalized on a plan for a Manhattan-style high rise apartment on Spring Street. Most people thought it would take years to rent out, but every unit there ended up renting out in just months. Following construction of that building came The Aspire, a Rutgers housing project and now the Beach at South Inlet. It was only just a few years ago too that former NBA star Shaquille O’Neal also got involved with Boraie Development to plan new buildings for Newark neighborhoods.