New Jersey has a lot to offer, but even Shaquille O’Neal knows there is much to be done. His hometown of Newark, New Jersey, according to his mother needed a lot of work. It was in 1992 that he and his mother were visiting relatives when she mentioned that it would be a great idea if someone could invest back into the city and make it beautiful again. The project he invested in was a 20 story apartment building, listing apartments at market-rate.
The governor of Newark is grateful to Shaq and made certain that he mentioned this to him during the unveiling ceremony when the top floor was completed. Most importantly, the gratefulness expressed was to Shaq for never forgetting where he came from. What he discovered to be true about funding for the city, is that projects do not get completed because funds don’t come through. Projects are planned, but they often fall by the wayside without a real solid financial investment. The Mayor stated it best when he said that, “it takes partners”. You can visit their website boraie.com
Shaq Towers is now the first high-rise building in more than 50 years, with more than 165 total units for rent. The massive apartment building is comprised of 184,000 square feet, and has more than 20,000 square feet of rental space. Sam Boraie, the CEO of Boraie Development, has said that it could not have been possible without all of the partners involved. Boraie Development is based in New Jersey, and has been dedicated to the building up of urban areas. Waseem made the statement in a recent article that, “It’s the way we partnered with the city that sets a new tone.”
Shaquille O’Neal gave a lot of credit to Boraie, calling his company the “Kobe Bryan of development.” Those words coming from the hometown celebrity meant a lot to Mr. Sam Boraie as well as the other partners who sought out the developer to complete the project. A proud moment for the city of Newark, it was a special day for all involved to see something much needed and special turn out so well for the city and all residents. For more details visit crunchbase.com