Newark, NJ is the first skyscraper building in over 50 years in New Jersey. The apartment building has a name familiar to sports fans attached to it: Shaquille O’Neal. Recently, the Newark native and NBA Hall of Famer joined stakeholders and elected bureaucrats for a top-off event at One Rector Street, also known as Shaq Tower. The event symbolically completed the main construction project, situated in the downtown area of the city. Once completed, the Shaq Tower will hold a million square feet of space, ground-floor retail space, as well as 169 rental units.
The top-off event also included attendances from Newark Mayor Ras Baraka, Governor Phil Murphy, Carmelo Garcia, the Acting Deputy Mayor and Director of Economic and Housing Development, Margaret Anadu, the Urban Investment Group head, Boraie Development and Goldman Sachs Urban Investment Group Managing Director.
According to Sam Boraie, the $79 million building is scheduled to open before the year comes to an end. The residents will be in a position to apply for leases as early as September 2018. This project is a private-public partnership between the state, O’Neal, the city of Newark, the Goldman Sachs Urban Investment Group, and Boraie Development based in New Brunswick. According to NJBiz.com, the project received a $24 million from the Economic Development Urban Transit Hub Tax Credit in New Jersey Department.
O’Neal also announced the plans to invest in a 35-story building on McCarter Highway, costing $150 million, a one-two combo which he hopes will assist in revitalising the real estate landscape of his hometown.
With its headquarters in New Brunswick, New Jersey, Sam Boraie provides services covering the entire aspects of the modern real estate industry. These services include real estate development, property management, as well as sales and marketing of properties. The company’s professional team strives to achieve excellence and sustainability when carrying out various development projects. Sam team works in collaboration with contractors, financial institutions, and architects to achieve this objective. You can visit boraie.com to see more.
Boraie Development is popularly known for its committing capital, vision, and reliability in every form of real estate undertaking. The company is among the most popular developers in New Jersey due to its experience of more than thirty years. Boraie Development executes all the property management services it offers with remarkable detail. The firm’s sales and marketing groups develop thrilling adverts to ensure that the customers know the channels they can use when looking for real-estate solutions. For more detail you can checkout crunchbase.com