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How Boraie Development And Shaquille O’Neal Have Restructured The City Of Newark

 

Basketball legend and superstar Shaquille O’Neal was set to go back to his native home Newark to host a basketball tournament event in front of City Hall that was supposed to help promote the city. The 7-foot-1 superstar, who retired after 19 years in the National Basketball League in 2011 was set to team up with Newark’s Mayor Ras Baraka to oversee the event. The tournament christened ‘Believe In Newark’, was set to be held at Broad Street in front of City Hall, reported NJ.com

The event was set to feature different competitions for high school girls and boys and registration was set to be held one weekend to the date. Preliminaries were also configured to be held one weekend prior to the main weekend at the JFK Recreation Center. Although O’Neal left Newark for Texas for his professional career, he has been actively involved in projects in his home city throughout his career and after. In the year 2012, he was very instrumental in helping the Cityplex movie theater open on Springfield Avenue. In the $7 million dollar project, he teamed up with Boraie Development, which is a construction and architectural company based in New Brunswick, for funding.

One year after the movie theater was opened, he once again teamed with Boraie to convert former Science High School building into a 23 storied modern apartment block with 169 units. Many of the units were set to be rented out at reasonable market rates ranging from $1,400 for a studio and $2,200 for a two bed-roomed house. The construction was completed in mid-2015. Shaquille says that his involvement in development projects in his hometown is part of his giving back to the society that molded him to become what he is today.

Boraie Development LLC, deals in real estate development, sales, and marketing as well property management. For not less than three decades, the company has worked with various stakeholders including investors and financial institutions to complete projects. The company also offers other services like maintenance, leasing and accounting all of which add intrinsic value to development.

Boraie Development has played a tremendous role in restructuring the City of Newark. In the past decade, the company has been involved in building over more than one million square feet of both commercial and residential buildings. This company has been a benchmark for making sure that the development projects it does are always in tandem with high-quality standards needed in modern development. Boraie Development has also proved to many that with proper management and design, any development project can have market appeal and make money for the developer. After all, no investor wants to lose money after investing in a multi-million project.