Urban Land Institute Plans Implemented in Atlantic City
Just recently a team of development experts, entrepreneurs and officials met at the famous Atlantic City Convention Center in order to display a transformative moment for the new South Inlet in the city. The event was organized by a non-profit making organization that is based in Washington DC, known as Urban Land Institute. The group specializes in real estate policies and land use.
When the Casino Reinvestment Development Authority was introduced to the region, the non -profit making organization came into the Atlantic City for around six days in early 2014 for a particular study. The organization wanted to understand why there was a persistently blighted area and at the same tie propose a new redevelopment plan for the city.
After ten months of the study done by ULI, some of the recommendations like the
demolition of the View Apartment building that is found at the intersection of the Oriental Avenue and Hampshire Avenue or the renaming of the South inlet to Lighthouse District have not yet been implemented.
Wasseem Boraie is known to many as the Vice President of Boraie Development. The son of mogul Omar Boraie recently announced that the residents should expect to see the progress of work in the coming spring. Wasseem spoke during the institution’s large planned apartment complex that is scheduled to have two hundred and fifty units.
Boraie believes that this project is going to involve a large group of people, especially the universities, the public and the agencies in the region. He says that he is excited about the new plans, and he knows that the city will be a better place to live.
Herman Saatkamp is the president of the Richard Stockton College. Not long ago, he managed to complete the purchase of the school’s Showboat Atlantic City. The president recently announced that some of the condos and hotel rooms in the property would be back on the market by summer. He also said that about ten classes would be given to the Stockton student. In a recent report, Saatkamp stated that he expected more than four hundred students to live in the new constructions, and more than one thousands of them to take their studies from there.
Saatkamp said that the individuals in the Atlantic City were working hard to try and move forward, making a positive impact. He says that there are so many activities for everyone to do and that there are a thousand things that can be accomplished if there is unity.