Shaquille O’Neal has always had teammates on his side who were ready to take the game to the next level. Well, O’Neal has a new game up his sleeve, and he chose Wasseem Boraie as his teammate. Both of these innovative characters are looking to the future and trying to build the next high-rise apartment complex in Atlantic City.
Who Is Wasseem Boraie?
Wasseem Boraie is the kind of person that can get things done, which is exactly one of the things that attracted O’Neal to him. Wasseem was part of the foundational growth of Boraie Development, which is a real estate company that started back in 1986.
In a few short years, Boraie turned that company into a multi-million dollar company, which is one of the jewels of New Jersey’s business. Boraie threw in his years of experience with O’Neal to develop apartments for the next generation at the South Inlet in Atlantic City.
What Exactly Is Going On with the Planned Apartment Complex?
The apartment complex is an ambitious project that is properly named, The Beach, and will be built near the Revel casino. The project is estimated to be worth about 61 million dollars by the time it is completed.
Shaq and Boraie requested a loan of 30 million dollars from the Casino Redevelopment Authority (RDA), which was granted. The approval occurred back in March, 2013. But that approval has hit a snag because the RDA decided to delay the loan to reevaluate the entire proposal.
Boraie was able to secure some financial support from the New Jersey Housing and Mortgage Finance Agency, but it was not enough to persuade the 30 million dollar loan to go through. Boraie has a whole team of experts ready to start on this ambitious project.
Boraie is hopeful that the project will go on as scheduled, but he and O’Neal are paying attention to the RDA just in case. They know that a decision does have to be reached by January 29th.
Spectators are excited about the project because they know that both O’Neal and Boraie have a vision worth waiting for. Thankfully, both of these men are patient people who understand that a project of this magnitude requires patience. And, the people and visitors to Atlantic City are definitely in for a surprise when the high-rise apartment complex is finally built and opens its doors.