Newark has been home to many individuals such as Shaquille O’Neal. Shaquille O’Neal is a former basketball player, and he was famous for his skills in the basketball court. The former basketball player has partnered with the Boraie development to develop various forms of property in Newark. For instance, the CityPlex12 Newark was renovated by the Boraie development. It was once an old theater, and it was si9tuated in the Springfield Avenue. The renovation process took $7 million, and the project was completed in 2012. The CityPlex12 is one of the projects that have been developed in Newark courtesy of the partnership between Shaquille O’Neal and the Boraie development. The partnership has also brought about the construction of housing and commercial buildings in the areas that are filled with less privileged people.
The Boraie development has been developing and managing properties for quite some time. Their experience in the real estate sector is invaluable, which is why Shaquille O’Neal partnered with the Boraie development. Shaquille O’Neal is more of a philanthropist in this case, and he issues funds that will be utilized by developing property in New Jersey and Newark. Since there are many undeveloped areas in Newark and New Jersey that are occupied by the less privileged people, Shaquille O’Neal is targeting these areas. Furthermore, the Boraie development is concentrating on one project at a time.
The latest project that the Boraie development are embarking on is the construction of a rental complex. This project will cost $60 million, and it will be situated in the Newark downtown. The groundbreaking project will be graced by the presence of the U.S. Senator Robert Menendez and Mary Cory Book who is the Mayor of Newark. In this partnership, Shaquille O’Neal is more of a co-developer, and he has also been issued an equity state at the Boraie Development.
After retiring from being a basketball player, Shaquille O’Neal began to invest in various industries. He now owns a soda brand that has partnered with the Arizona Beverages. As for his partnership with the Boraie Development, Shaquille O’Neal is involved in the active planning of the project, and he leaves the rest of the details to the Boraie Development. Currently, Shaquille O’Neal resides in Orlando, and his main task is to usher in new projects during the groundbreaking and launching ceremonies. By giving back to the society, Shaquille O’Neal is also empowering many youths, and this can be termed as a smart investment.
Find out more about Boraie Development: https://magazine.rutgers.edu/insights/seeing-the-future