The housing project in Newark is expected to experience urban growth it had not acquired for these 50 years. According to the approximation made, the city will have about 21 stories containing about 169 rental units. The rental space will be about 20,000 square feet and this will lead to a high-rise in the market rate. The project is expected to be built at the center of downtown Newark. The project, which some people have named Shaq Towers, is the latest that Boraie Development is handling in Newark. Some of the people who came at the topping off ceremony of this project included Phil Murphy and Omar Boraie. Wasseem Boraie affirmed that this was a great day, and that the private and public entities needed to come together to ensure the urban centers have been developed. You can visit statetheatrenj.org to see more.
He said that this project would not have been carried out in another place other than in the Newark city. During the topping off ceremony, O’Neal stole the show when he took the stage. He said that he regards such huge projects personal and not private or public. He was born and raised in Newark city. One day in 1992, he went with his mother to visit some relatives in this city and he remembers his mother say that someone needs to come and invest in this city for it to be beautiful again.
On a Tuesday afternoon, Shaquille O’Neal and Boraie Development announced the next project they would be handling. The project involves a 35-story building in the city’s heart. The building is expected to have about 350 units and it will cost additional 150 million dollars. Wasseem Boraie is the Boraie Development vice president and he said the company had already started the project and it would stick to the project even next year 2019. He said this year they are just busy trying to ensure they get all the required planning approvals. At the same time, he noted that they are watching if the EDA subsidies would favor them. For more details check out njbiz.com
Boraie Development is good at developing the urban real estate services through property management and sales. The real estate company is categorized under the industrial buildings and warehouses. The company was incorporated for the first time in 1896 and its main offices are based in New Jersey. The company has about 35 employees and the main focus of the company is ensuring that its clients get beyond what they expect from it. The company knows that the secret to achieving the desires of its clients is by collaborating with great contractors, financial institutions, and other visionary architects.