New Brunswick is a historic city in the state of New Jersey. Admittedly, the city has had its ups and downs. Over the decades, the region has seen its real estate market experience positives and negatives. Effective redevelopment strategies are the only means in which the positives can be sustained. Recently, as reported in the New Jersey Spotlight, a series of new development endeavors are being put in motion.
The redevelopment project that is being put in motion is not exactly a miniscule one. Several different players are all coming together to drive the multi-million dollar development plans to completion. The main focus right now is on the downtown district, but other connecting neighborhoods are going to be brought into the mix as well.
The path to rebuilding New Brunswick and its downtown (and surrounding college) area has been a slow one. While certain segments of the region are contemporary, low-rent retail stores are very prevalent. These establishments are not indicative of a geographic area burgeoning with renewed vigor or interest. The new redevelopment plans hope to change this.
Boraie Development is one of the partners in the forthcoming projects and its presence should prove to be a major positive for those hoping to see results. The Manta profile of the company reveals the extent of the business it engages in: roughly $10 million to $20 million in revenue per year. An article in PR Newswire also shows the scope of some of the luxury projects Boraie Development has had a hand in. The presence of this company among the entities looking to redevelop the business district should instill confidence in many.
Work on a ” 17-story residential high-rise” and the creation of a “$300 million quad” for Rutgers University are two of the projects. Enhancing “The Hub” located near the town’s train station is another item in the works. Hopefully, all of these projects will come together effectively and result in a brilliant new look for New Brunswick.
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