Boraie Development has been making headlines recently. The company is playing a major role in the redevelopment efforts of Newark, New Jersey. This once graceful city has seen some wear and tear over the years. This is the exact kind of city that Boraie Development looks for when they are setting out to develop real estate. The companies motto is to revitalize “less-than-perfect” areas in the United States and Canada. For Newark, Boraie Development had a little help from the big man. No, not god. The other big man. Shaquille O’Neil partnered with Boraie Development to assist them in creating the new high-rise — the first high-rise in 50 years in the city — and has stated that he plans on taking resident in the buildings top floor.
The partnership between O’Neil and Omar Boraie may seem unusual at first. After all, what does the NBA superstar have to do with real estate development projects? Well, it all goes back to Shaq’s childhood. Shaq recalled a time when his mother told him how beautiful the city used to be and how she wished that someone could return it to its former glory. Shaq took that to heart and decided that he wanted to do something about it. Shaq decided to join Boraie to help resurrect Newark hand-in-hand. The fit was a natural one. At the opening ceremony for the new rental unit One Rector Street, Shaq called the Boraie “the Kobe Bryant of development”. To see more you can visit wsj.com
One Rector Street may be the formal name to the Boraie development high-rise, but it’s not the name that people on the street are calling it. Shaq Towers is going to have luxury rooms at an affordable price. It’s 21 stories tall and has over 160 rental units occupying its spaces. The project, which was backed by Goldman Sachs, is one of the first in many development projects that Boraie has planned.
What’s next? Boraie and Shaq are partnering again for a massive new high-rise. This one is a $150 million, 35-story complex that will give host to over 350 apartments. Boraie has a history of cleaning up worn down cities, so the joint venture between Newark and Boraie seemed like a natural fit. The city, of course, is up to the challenge. The mayor personally thanked Boraie and stood hand-in-hand with the developers at the opening ceremony. For more details you can visit centraljerseyworkingmoms.com