According to a report released on the New Jersey Spotlight, New Brunswick was faced with similar challenges like many cities in the U.S. in the last ten years of the past century, despite serving as a major city of Middlesex County and also hosting the Rutgers University main campus. Unlike other old urban towns, New Brunswick rebounded back in the early 80s, although the progress has been at slow pace. Downtown area of New Brunswick boasts to have major restaurants and entertainment joints, but there are many low-rent houses available.
Today, several stakeholders in the real estate industry in New Brunswick including public institutions and private companies are redrawing the landscape of this area so that it can fit into the modern day needs. One of the major development projects underway is the construction of The Aspire, a 17-storey privately developed residential building. It is an addition of more luxury units in New Brunswick area. It is located adjacent to the train station which commutes to New York City. Tenants of two-bedroom apartments are charged up to $2,800 per month. The building has been developed by Boraie Development LLC.
According to Vice President of Boraie Development, Wasseem Boraie, the office space of the building began leasing late November, and a good number of potential renters had shown interests. He credits the stability in this city to the fact that Rutgers University was included among the Big 10 learning institutions for its ability to progress in the medical research and education. Residents of New Brunswick are searching for more features and options when deciding on the apartments of their choice, a condition that didn’t exist 15 years ago.
About Boraie Development LLC
Boraie Development is a real estate firm based in New Brunswick. Recently, the firm completed development of a new luxury residential apartment which is located at the center of New Brunswick, that is available for renting. The Director of Marketing at the company said that increase in population in this city has led to upscale of luxury apartment.
Tenants of The Aspire are allowed to use online systems to pay for their rents. In addition, they are updated whenever there is an event happening in the locality. Studio apartments are offered at $1,650, one-bedroom at $1,800 while two-bedroom apartments are offered at $2,700 p.m., all available with balcony and private terrace.