CRDA moving towards South Inlet redevelopment - NBC40.net

CRDA moving towards South Inlet redevelopment

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ATLANTIC CITY -

CRDA Board Members, developers and residents discussed the proposed plans for the redevelopment of a vacant lot between Connecticut and Delaware avenues.

"Perfect project, perfect time, perfect developer to be coming to our city right now," said Mayor Elect Don Guardian.

"This is a developer that has a proven success rate in Newark and New Brunswick the project that he is delivering is meeting all of the goals we could ever hope for."

The developer, Wasseem Boraie of Boraie Development presented plans that call for 250 units as well as 80,000 square feet of commercial space for a supermarket and Shaq–Plex theater.

"There are very few cities that make three billion a year from their main industry and people consider it a city in crisis, its far from that, so we're very proud to be ushering in the era of mixed use development in Atlantic City," said Boraie.

Developers say the affordable prices coupled with a 24–hour doorman and swimming pool hope to attract a younger demographic to Atlantic City.

"We had a couple young people mention in the meeting there’s really no good place for folks to live in Atlantic City so we think we're filling that need. We have to pt it at the right price point to welcome those folks," said Boraie.

And with Generation Y in mind, the plans already captured the attention of some area residents attending the meeting.

"Actually seeing the project on the projector and hear dates and hear numbers, its really encouraging that they're going to do it, hopefully," said Jason Forsland.

"There are a lot of people that would consider moving here if there was a place to live and there a lot of things that the city is missing that seems to fill a void," said meeting attendee, Jason Klotz.

Officials say the 100 million dollar project has received support from the city and state in addition to the CRDA. Now with the plans gaining support, Boraie is looking forward to the next step of finalizing plans with the CRDA .

"I think we'll be in a position between that and our other funding sources to be looking at a late July, August time to break ground and start construction," said Boraie.

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