Shaquille O’Neal is one of the individuals who are on the frontline in making Newark as beautiful as it once was. Being the most populous city in the New Jersey state, Newark is said to be on the rise, with major developments taking place in the city. O’Neal recently returned to his native home to celebrate the topping off of his 20-some-story building on Rector Street. Ras Baraka, the city’s mayor, acknowledged the efforts of those supporting the growth of Newark, including Shaq O’Neal.
The Urban Investment Group Managing Director Goldman Sachs, Margaret Anadu, was also quick to talk her views out. She said that their main aim at Urban Investment Group was not only to find partners to build flashy towers but also to support projects in the communities. With the unveiling of his new building, O’Neal and the city also launched Project Newark. The project was started to help those from Newark by creating job opportunities. Majorly, it focused on helping veterans, minorities, and women interested in mapping their careers in the construction field. Check out their website boraie.com
According to Patch, the project was the latest in Newark, with NBA veteran Shaq O’Neal collaborating with Boraie Development, a Real Estate Development company in New Jersey. The company also deals with Real Estate Marketing and Property Management. The company works hand-in-hand with contractors, financial institutions, and architects to develop the city through the construction of buildings. The building is due for completion in several months’ time. A report from Boraie said that the next summer would fully occupy the building.
Better news would follow for Newark residents. Shaquille O’Neal and Boraie further announced their next project in Newark. A 35-story project, set to be situated on McCarter Highway, right at the heart of the city, is next in line. According to Boraie Development’s Vice President, Wasseem Boraie, the project is already underway and hopes that it will go strong in 2019. The $150 million building is projected to hold 350 units. Through this project, Shaq O’Neal hopes that his hometown’s real estate landscape will be revitalized.
NJBiz.com reported that the $79 million project was a public-private partnership that involved Newark city, Boraie Development, Shaq O’Neal and the Goldman Sachs Urban Investment Group. The project also received a $24 million Urban Transit Hub Tax Credit from the New Jersey Department of Economic Development. The first high-rise apartment building in Newark in over 50 years seems to be just one among many that will light up Newark’s landscape.
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