Wasseem Boraie, vice president of Boraie Development, is in a good mood these days, and he has good reason to be. His company started leasing condos in their new 25-unit 600 NoBe (an abbreviation for North Beach) development in Atlantic City, New Jersey, in January, and half of the units have already been leased. He’s ahead of the schedule he set for himself, and he’s thrilled that he was wrong about that particular projection. All residents should be able to move into their condos by January. While the three buildings will be near Atlantic City’s famous casinos, they are not meant for tourists but rather for permanent residents.
These condos will be a good thing for Atlantic City in general by creating a small permanent community. Hopefully, they will serve as a positive example to other developers by proving that people want to live and work in Atlantic City and not just gamble there and leave. Essentially, the NoBe development takes nearly two blocks of what was recently urban blight and turns it into a neighborhood for long-term citizens of the city. The success of the $85 million project so far flies in the face of the predictions of naysayers.