New Jersey’s skyline is changing and so is investor opinion of its real estate potential, thanks to Shaq O’Neal’s collaboration with Boraie development. The two have come up with industry and economy revitalization program that they hope will have more people interested in living and working in New Jersey.
In Newark and New Brunswick Cities that haven’t seen any new residential developments in years, the two have kickstarted luxurious developments aimed at spurring the real estate growth within the communities. Shaq O’Neal would start by establishing the One Rector Street condominiums in Newark while Boraie Development markets The Aspire apartment in New Brunswick. But what can residents in these cities expect from the two luxurious residences:
Smacked right at the heart of New Brunswick is the cities most luxurious mixed-use property. It consists of 238 spacious units in the form of Studios, one- and two-bedroom apartments as well over 10,000 square feet of retail space. The fact that it is situated deep in the city makes give it ease of access to different points in the city like eateries, entertainment joints, and shopping malls. More importantly, the live, work and play type of residence built and managed by Boraie development sits just a few steps from the city’s train station.
The One Rector Street
The One Rector Street apartment, fondly referred to as ‘Shaq Towers’ was developed by the NBA star and legend Shaq O’Neal in collaboration with Boraie development company. Tearing up Newark’s skyline, the block that features 168 apartments will be the first luxury residential property to be developed in the city in over five decades.
Shaq and Boraie company developers are confident that the building is just the first in a series of steps that will eventually change the Newark landscape and real estate narrative. To this end, the two have committed an additional $150 Million towards the development of yet another 350-unit luxury apartment in the city upon completion of Shaq Towers.
More about Boraie development
Started by Omar Boraie in 1972, the company is responsible for the establishment of different real estate properties in New Jersey and beyond. Within the last decade, the company has constructed and handed over close to one million square feet of commercial and residential property in New Jersey. This formed the basis of revived hope for the states real estate industry.