Shaq teams with Boraie Development LLC for a better NJ Read more

Shaq teams with Boraie Development LLC for a better NJ

 

In New Jersey it has been announced that the basketball legend, Shaquille O’Neal will return to his native Newark this month to cohost a basketball tournament in front of city hall. The 7-foot-1 superstar who retired in 2011 after playing for 19 years, will team with Ras Baraka to see the Aug 22 “Believe in Newark tournament to be held in front of city hall, an event that will feature both high school boys and girls. The registration was held over the weekend, with the preliminaries held this Saturday and Sunday at the JFK recreation center. O’Neal has maintained a presence of the city of his birth throughout his career, even though he left Newark to play basketball in Texas.
O’Neal helped in opening CityPlex Movie Theater on Springfield Avenue in the city’s central ward, which was a $7 million project that he partnered with the New Brunswick Boraie Development to fund.

Back in 2012, the retired basketball player, Shaquille O’Neal together with a new prominent Brunswick developer contributed a total of 7 million dollars for the renovation of the old theater in Springfield Avenue to become now known as CityPlex 12 Newark. The project is still ongoing and it is one of several projects that O’Neal in partnership with Boraie Development has been working on, to bring commercial and housing developments, together with market rate units to the state’s more distressed areas. The partnership has even began to become a point of attraction as O’Neal has even been able to lend money and power to a local development dealer in order to have extensive political contacts as well as experience.

According to O’Neal, the main aim is to do an extensive development at a particular time. He has so far managed to have a market raise housing tower, a movie theater, as well as a city’s retail complex. Mr. O’Neal is a co-developer and is also involved in several business ventures, which have enabled him greatly to plan the projects. His objectives for this development as he states, is to give back to the cities of his youth. His partners have also viewed the projects as smart investments. The Boraie on the other hand, have been able to build more than one million square feet in commercial and residential properties in New Jersey. Their new project, which will be a 169 unit housing tower, will be located near the New Jersey performing arts Center and will include a gym, doorman, as well as 300-seat auditorium, with leather seats.