American sports and movie star Shaquille O’Neill is teaming up with developer Wasseem Boraie to build The Beach at South Inlet. This project is a proposed apartment complex that will cost approximately 61 million dollars to build. The area for the proposed build is located next to the abandoned Revel Casino. The Casino Redevelopment Authority is extending the expiration date of the order to give more time for the proposal to be evaluated. Initially, the plan was approved with a 30 million dollar loan to Shaquille O’Neal and Wasseem Boraie in March of 2013. Shortly after that the showboat in the Revel closed and Trump Taj Mahal began to look like it was headed towards bankruptcy. The Proposal was reevaluated to help Revitalize the vacant portion of the city. Wasseem Boraie has stated that his team had already secured financing from the New Jersey housing and mortgage financing agency and are set to start work. Authority to get the project done.This project is expected to bring much-needed housing and development to a part of the city that is in steep decline. This project is set to be approved for an extension and then will be set to begin later this year.
Wasseem Boraie is the vice president of Boraie development in the greater New York area. Wasseem Boraie very attended do University of New York University and the Leonard N. Stern School of Business. He received a bachelor’s degree in international business, finance, and English in 1994. Wasseem Boraie works with his father, Omar Boraie. Omar Boraie is the President of the company but works very closely with his son Wasseem to continue to create and complete projects all over the United States. Boraie Development has built many hi profile projects including building and conjunction with Johnson and Johnson to complete their New Brunswick office. Some of the other buildings that they have taken credit for are the Aspire and Spring Street, which include office space and retail shopping. Boraie Development works in development, real estate and property services, and sales and marketing. Boraie Development operates in all sectors of building and property including; retail, housing, office building, and all other commercial development.