Boraie Development’s role in the Growth of Newark.

Shaquille O’Neal is a former basketball player. He gained a lot of popularity during the years that he was active in the game. He remembers of how he grew up in Newark in the 1970’s. Unlike many of his age-mates who spent a lot of time on the streets, his parents made sure that he spent his free time in the movie theaters or the local clubs. According to him, he was happy to stay in such places for about two to three hours. He has attracted the attention of many international media outlets mainly to talk about his success during his basketball career.

Newark has become one of the fastest growing areas in the United States. There are numerous infrastructural projects under construction in the area. One of the most notable transformational structures is an old theater that has been turned into a modern facility known as CityPlex12. The project cost about $7 million. It was completed six years ago and was successful due to the partnership between Mr. O’Neal and a developer in the area called Boraie Development. There are many other projects in different stages of construction sponsored by the partnership. Other cities in New Jersey are also expected to benefit from the infrastructural projects.  To see more you can checkout re-nj.com

 

According to Mr. O’Neal, some of the projects are meant for commercial while others for residential use. The joint venture has gained nationwide recognition due to the impact it has made in the state. Mr. O’Neal’s role in the ventures is providing funds in the form of loans while the Boraie Development will contribute through its extensive political networks and experience in infrastructural projects over the years. During an interview, Mr. O’Neal disclosed that they were focusing on New Jersey’s urban downtowns. According to the basketball star, they would not be everywhere. The team would come up with modern structures that have a positive impact on the lives of the residents.

One of the latest buildings sponsored by the partnership is a rental complex that cost $60 million. It is one of a kind project in Newark in the last 50 years. Mr. O’Neal was to be one of the speakers at the opening ceremony. Other dignitaries that were expected to grace the occasion include the local mayor, Cory Booker and Senator Robert Menendez. According to Boraie Development, the structure has 238 residential units and is located near the Brunswick Train Station. The residents will also have ample parking space and enjoy easy access to the lobby through the elevators. The team also plans to construct a housing tower, a modern movie theater, and a retail complex.  For more details you can visit njbiz.com

 

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