Contributions of Boraie Development

One of the biggest housing projects in Newark in the history of approximately 50 years that was recently opened has 21 stories and 169 rental units. It was earlier known as One Rector Street though a good number of people called it Shaq Towers during its launching ceremony. It is a recent project by Boraie Development and the past NBA celebrity Shaquille O’Neal in Newark. The occasion was attended by several celebrities, and some of them were the Ras Baraka who was a Newark Mayor, O’Neal, Gov. Phil Murphy, and Wasseem and Omar Boraie developers.

 

According to Wasseem Boraie, it was a brilliant day for the Newark city and a contemporary example showing the reasons as to why the private and the public corporations should work together towards improving the urban centers. If it were not for the unity between the individual and the public sector the Newark city wouldn’t look as it is nowadays. The meaning of the public-private is the private people work as the public offer payments. Mayor Baraka played the role of ensuring the private sector is responsible. O’Neal who is a resident of Newark and a Famer Shaquille’s NBA Hall narrated his story of how he got the interest of making the Newark city the best place to be. See, statetheatrenj.org,

 

 

He said that in 1992 he and his mother paid their relatives a visit and his mother recalled the days that Newark city was a pretty city. Then she said how she wished there would be a person who can rise and make the city beautiful as it was before. O’Neal appreciated the city and the Boraie Development for their contributions in beautifying the Newark city. Baraka added that without the help and the support from the state several projects that are in the Newark today wouldn’t work out. Not too long Goldman Sachs and the mayor funded the Shaq Tower and a city movie theater to make Newark pleasing to the deep-pocket investors.

 

The Deputy President of the Boraie Development is known as Wasseem Boraie. During the ceremony, the Shaquille O’Neal and the Boraie Development publicized their subsequent project for the Newark city. The project is a 35-story multipurpose that will be constructed in the middle of the city along the McCarter Highway, reveals re-nj.com. O’Neal stated that the structure would contain 350 units opening investment of $150 million in the city. Boraie Development has begun working on the project.

 

https://www.crunchbase.com/person/sam-boraie#/entity