Boraie Development on the Forefront of New Brunswick Development
If you take a closer look at how New Brunswick has developed over the last two decades or so, you will see a very familiar trend as with other cities across the country. A rise in immigrant population and declining property value on njspotlight.com has led to corporate migration. This migration brought about desperation among the town council; with its leaders eager to maintain existing corporates as well as attract new ones.
This desperation led to partnerships between the town council and real estate developers. Over the past few decades, these real estate developers like Boraie are working with financial institutions and the town council to construct new structures in the cities with the hope of attracting new investors. Construction of theses towers has resulted in a new skyline and a revamped image of New Brunswick City.
Hope for New Brunswick
The year of 1975 marked an important year for New Brunswick. In the 70s, property value around the city had begun taking a downturn and many corporates moved their offices out of the city. However, pharmaceutical giant Johnson & Johnson on local.yahoo.com committed to staying in the city. Johnson & Johnson commitment to New Brunswick marked a turning point of the falling city. Investor’s confidence was restored, and the city commenced its redevelopment.
Read more: Boraie Development LLC Opens Leasing Center in New Brunswick, New Jersey
Boraie Takes a Risk
In 1985, Boraie Development under leadership from Omar Boraie built a double-tower at Albany Street, the same street that housed Johnson & Johnson. Omar Boraie recalls that moment in his life as a huge gamble that paid off. Boraie claims that the main reason he decided to go through with the development of the building was that Johnson & Johnson had chosen to stay in the area.
Since then, that building in Albany Street has become Boraie Development’s headquarters. Mr. Boraie felt it was the ideal location for the company’s headquarters since it is situated in a strategic location where he can view the wide array of towers he already owns as well as monitor progress of towers under construction.
Background of Boraie Family
Mr. Omar Boraie is originally from Egypt. He was born in Egypt and later traveled to New Brunswick in 1965 to further his college education. His goal was to pursue a Ph.D. honor in Chemistry before the real estate opportunity presented itself to him. He turned to real estate and had not looked back ever since. His two sons are partners in Boraie Development. The Boraie family is responsible for the new skyline in New Brunswick, as they have developed numerous buildings around the city.