The state of New Jersey is home to a lot of historic cities that have been considered in the past as the premier cities of the United States. However, as time passes by, these cities faced neglect, and economic development is hampered. Boraie Development, a real estate and property development company, founded by Omar Boraie, recently announced their plans of revitalizing the cities of New Jersey by building new properties that would make them desirable for investors. Three of the state’s largest cities have been put into the trial – Atlantic City, New Brunswick, and Newark. Boraie Development would try to construct new properties within these cities, and they will look into the possibility of building bigger projects if the initial construction becomes a hit to the people living near the area.
According to WSJ, in Newark, Boraie Development teamed up with the city mayor for them to see what kind of changes they would like to see within the city. According to the mayor, the last economic growth felt by Newark happened 50 years ago, and since then, no other developments appeared within the city. Boraie Development proudly presented the construction of the One Rector Street high rise, also known as the Shaq Towers, named after the former basketball player for the NBA, Shaquille O’Neal. The skyscraper was built near the city center, and Boraie Development explained that they would want to build more skyscrapers in the city because they wanted to give Newark a beautiful skyline. Check out centraljerseyworkingmoms.com for more.
One Rector Street is a 95 meter-high skyscraper, and Boraie Development opened more than 160 units up for renting or leasing. The mayor of Newark felt extremely delighted because, after so many years of waiting for a new skyscraper to appear in their skyline, One Rector Street appeared. They are happy with the announcement that Boraie Development has chosen Newark to become one of their investment destinations, and they also thanked the company’s initiative to invite more investors with the company. One Rector Street is the first project on the list of Boraie Development. They are also set to build the 35-story tower that would oversee the whole city. It is reported to cost $150 million, one of the most expensive projects of the company. Shaquille O’Neal has also expressed his will to become a successful businessman after he quit the world of basketball. Boraie Development stated that working with the former NBA superstar have made them one of the best in the industry.