Just recently, the Shaq Tower was unveiled. It became the first high rise apartment to be opened in Newark. The mega project derives its name from the retired NBA athlete, Shaquille O’Neal who is a partner in the project and was born and bred in Newark. During its opening, Shaquille was joined by elected and non-elected leaders as well as other significant stakeholders. Being the first major project to be completed in the last five decades, the Shaq Tower becomes an essential landmark in the downtown parts of the city.
The groundbreaking tower is a public-private partnership between Shaquille O’Neal, Boraie Development, Newark City, the State, and the Goldman Sachs Development Group. Several media houses are also reporting that the project was boosted by a $24 million check from the New Jersey Department of Economic Development. The building is in line with Shaquille’s plans for the city that groomed him to what he is today. He further plans to pump in $150 million for another 35-storey building on McCarter Highway. His primary objective is to revive the struggling real estate market in his city.
Boraie Development Group has built a name for itself in the New Jersey real estate market. Under the leadership of Omar Boraie, its founder, the firm has been involved in various significant projects and has made New Brunswick its headquarter of operations. In the last three decades, the company has specialised in developing and managing residential, industrial, and commercial properties. Omar Boraie serves as the president of the corporation, while his two sons, Hiam and Sam Boraie are his vice presidents.
Another notable project under Boraie Developments portfolio is the Aspire Residential Apartment, a 17-story building situated near the New Brunswick train station. The magnificent structure was put up to target clients seeking a premium and luxurious apartment that provides special offers like concierge services. The Aspire apartment consists of a total of 238 two-bedroom, one-bedroom, and studio apartments located in a full-service, modern structure. Its residents will enjoy exclusive amenities that include private parking and 24-hour doorman service. You can checkout their yahoo for more details.
The Boraie’s are not only known for their entrepreneurial endeavours, but also for their philanthropy. They are involved in various charitable courses. Omar Boraie recently collaborated with the state to re-open the New Jersey State Theater. Sam Boraie is a coordinator at Elijah’s Promise, a non-profit group that gives free meals to the homeless in New Brunswick. Visit rutgers.edu to see more.