What does it take to turn around an 8 acre stretch of land that’s defied revitalization and redevelopment for decades? Is it really possible to bring a long vacant piece of Atlantic City real estate back to life? Though the odds may seem long, hopes are high that an 8-acre stretch of land referred to as Blocks 132 & 133 can really become vital again, according to a story recently published in the Press of Atlantic City.
The story about the area call the South Inlet talks about a proposal for a new apartment complex called The Beach at South Inlet, which is being offered by Boraie Development LLC
. The complex will provide much needed market rate rental units to an area that’s long been neglected and underserved, if the planners at Boraie Development have their way. Boraie is well known in New Jersey for their part in the revitalization of other Garden State cities
How is it that an 8 acre parcel is sitting empty in Atlantic City? The background to the story of the South Inlet, which has proven resistant to decades of development attempts, is one of poor planning and the vagaries of the economy and changes in real estate planning over time. Initially, the area, which was once a neighborhood of single family homes, was bulldozed back in the mid-1960s to make way for redevelopment. The plans went awry, however, and as the years went on, proposal after proposal failed to turn into viable housing. Today, the area is mostly a neglected stretch of weedy fields. Hopes are coming up again
, however, with news of the plans by Boraie Development and the enthusiasm behind it from the Casino Reinvestment Development Authority and its board members.
The Beach at South Inlet is envisioned in its plans as a 250 unit apartment complex, which would be constructed in a geometric shape surrounding a courtyard and pool. The complex has a sleek, modern look that is in keeping with the tastes of the millennial crowd who would be likely renters. The board members at the CRDA are said to be hopeful about the future of the Boraie Development project, and also hoping that the complex can stimulate more housing projects in the surrounding area. If all that came to pass through this new Boraie Development, it would be a win-win situation for the entire area, and one that many people hope can be a reality.
Follow Boraie Development LLC on LinkedIn as this develops.