There are a lot of capital moves that Newark, New Jersey is embarking upon with the help of an retired NBA friend. Recently, the city has announced that there will be the first high rise in 50 years located there. Once again, the natives of the city are excited because, now, they don’t have to send their mom or dad to a rest home. The high rise building will take up approximately one million square feet. There are 169 rentals that will be available as soon as the building is finished. Shaquille O’Neal, the famous power forward and center for the Los Angeles Lakers, has a lot of work to do before the building is ready to take renters.
According to Patch, Ras Baraka, the mayor of Newark, joined Shaq in his celebration. The focus of O’Neal’s drive to help the community was due to the fact that he spent quite a few years in the city. Shaq knew that he would reach back and help families that were in near there. Believe it or not, that day has finally arrived for Newark. The poverty rate will start to decrease, and the city will start picking up pieces and making beautiful artwork. Shaquille wanted the apartments to be based on a home for the low income, disabled veterans, and single parents. O’Neal announced that it will take $79 million to complete the project. The cutest result of making this project successful is that O’Neal decided to name it the Shaq Tower as a nickname. For more details visit crunchbase.com
The Boraie Development is directly off the McCarter Highway and owned by Sam Boraie. According to O’Neal’s announcement, there will be a $150 million investment from the retired NBA player. Shaquille is excited to help build the city back up. O’Neal hopes to encourage children to follow their dreams. O’Neal explained how coming from a low poverty home should not stop children from achieving goals. Shaquille O’Neal plans to continue to work city by city building more of these high rises.