Late last year, Boraie Development, LLC, put the finishing touches on its new apartment complex in Atlantic City. This was an $85 million, 250-unit project located in the South Inlet. It is the city’s first market-rate housing to be built in the past five decades. Three buildings make up 600 North Beach. One of these buildings has 80 units while the other two have 85. In between them is a courtyard with a pool and an area for people to relax in. The apartments on top of each building have 21-foot ceilings and two rows of bay windows.
Wasseem Boraie is a vice president of Boraie Development. He said he wanted to show people that Atlantic City is a great place to live, not just a place to gamble at a casino. Over 50% of the apartments were leased before the project was completed. Boraie said this exceeded his expectations. The four acres Boraie Development built on had been blighted. Boraie said that you need to build on blight to get rid of it. With 250 apartments, 600 North Beach is a neighborhood due to its sheer size. He’s now looking forward to building a luxury condominium in the Marina District. Learn More.