Boraie Development and Shaq Partner to Revitalize Newark, New Jersey

Newark, New Jersey used to be a beautiful city. But like many major cities, time took its toll. The cities walls started to wear, and the once beautiful city became a ghost of its former self. Newark hasn’t had a high-rise in the last 50 years, well that is until now. Boraie Development has been working diligently towards the cause of resurrecting the once great city. Of course, this isn’t unusual for a development company that prides itself on its ability to resurrect city landscapes that are, as they put it. “Less than perfect”.

 

Boraie Development isn’t doing this alone. This time they brought along a partner. A big partner. NBA legend Shaquille O’Neil — born and raised in Newark — arrived onto the white stage last week to greet chanting fans. Boraie and Shaq are unveiling the new high-rise; it’s a 21-story Goliath with 169 included rental units. The great building is 184,000 square feet. This landmark building isn’t the only new building that Boraie Development and Shaq are working towards building in Newark, New Jersey.

 

According to Patch, the 21-story luxury apartments are formally called One Rector Street, but, of course, with Shaq’s involvement, they have been aptly renamed to Shaq Towers. A fitting name for the high-rise. Goldman Sachs partnered with Boraie Development to help construct both One Rector Street and the new building that is a proposed $150 million, 35-story building. After Shaq took the stage, Wasseem Boraie took the stage to talk about the success of the project that combined city and private entities to complete.

 

Boraie Development, which Shaq called “the Kobe Bryant of development” is a family-owned company that is becoming a big name in the city revitalization game. The partnership that the company was able to score with Shaquille O’Neil was a major boost for the company. Boraie, Shaq, and Newark all partnered together on another project as well, project IMPACT. IMPACT hopes to give women, minorities, and veterans who are looking to get into the construction trade career opportunities.

 

This latest development into the Newark construction landscape acts as one of the first major improvements to the city in years. With “the Kobe Bryant of development” behind the projects who knows what the future holds for Boraie. Hopefully, the city can return to former glory in due time. Until then, Shaq is making good on his promise to his mother to help revitalize the city that he calls home. You can visit boraie.com to see more.

 

 

 

Reference: https://www.crunchbase.com/person/omar-boraie#/entity

 

See more: http://www.boraie.com/company/


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