Omar Boraie of Boraie Development LLC has been noting Newark and neighboring New Brunswick are both great locations for new housing. Boraie has overseen the successful building of housing projects in New Brunswick and there is no reason the success cannot be duplicated in Newark.
The launching of several housing projects at one time may be the reason why so many are optimistic about the future for Newark. In the past, only one construction project would be launched at a time. While one project is better than none, a solo endeavor is not going to provoke as much interest as a series of them.
When Boraie Development launched the construction of a 250-unit apartment complex in Atlantic City’s South Inlet, it was definitively shown that one project could have a very positive effect on an entire city. However, a series of similar projects is going to be even better since a greater amount of the city ends up being improved.
Boraie Development has previously had a hand in enhancing the beauty of Newark. The CityPlex12 Newark theater was greatly renovated thanks to a joint venture between Boraie and NBA superstar Shaquille O’Neal. Hopefully, the success experienced with the movie theater will be duplicated with the various new housing projects slated to begin construction.
Since more than one project is being launched, the chances for better economic redevelopment exist. A would-be small business owner might not be moved by the building of one housing unit. If several are built, the entrepreneur could be much more motivated to set up shop in Newark. After all, the more housing units there are, the more potential customers there will be.
Hopefully, the project will move quickly to completion and Newark experiences some newly infused economic vigor.