NEW JERSEY’S ATLANTIC CITY LOOKS TO A VITAL FUTURE

 

Can a long-forgotten, many times courted and then abandoned stretch of Atlantic City real estate really come back to life and usher in a new era of excitement and revitalization for this city? Yes, it can, if the planners at Boraie Development LLC have their way with a proposal for a new apartment complex that is currently under review by the Casino Reinvestment Development Authority.

In a recent story in the Press of Atlantic City, the proposal for a new complex, to be called The Beach at South Inlet, was highlighted in a story about an area referred to as Blocks 132 and 133. The 8-acre stretch was once a single family home neighborhood, but the homes were bulldozed back in the mid-1960s to make way for what was supposed to be a revitalization project that would bring more housing into the area. Sadly, that project was never to be, and the many ideas for renewing the area’s housing never did come to fruition. Today the Blocks are a mostly neglected patch of weeds, a sad reminder of how housing ideas can often go wrong, despite the most hopeful of plans.

Today, however, hopes are high again, as board members with the CRDA are expressing enthusiasm about plans from Boraie Development. The apartment complex under review is to be a 250 apartment structure, built with a sleek, modern feel. The apartments will be built in a geometric shape that will surround an inviting courtyard with a pool. The overall design is geared towards millennial tastes, and it’s hoped that the structure could provide much needed housing at market rates to an area that has long been underserved. 

There is further enthusiasm about the proposed structure from Boraie Development, as success with constructing and leasing out The Beach at South Inlet could serve as an anchor as well as a catalyst for further housing starts in the surrounding areas. All of that would be great news indeed for Atlantic City, which has been in need of good news in the real estate sector for a very long time.

A vote is scheduled for September 30 regarding the allocation of funds for the proposed housing project. Boraie Development will be looking towards that date and hoping for a positive outcome come fall.