Boraie development, changing the face of real estate for the better
The city of Newark is still rejoicing after its first high rise 168 apartment building was launched recently. The building known as 1 Rector Street sits on approximately 20,000 square feet and has twenty-one stories. It is the first one of its kind in Newark after more than five decades. 1 rector street celebrated its topping off in an event which attracted the crème de la crème of Newark’s society such as Governor Phil Murphy, Wasseem and Omar Boraie, Mayor Ras Baraka and many others including residents of Newark.
The main highlight of the day was former NBA superstar Shaquille O’Neal who also happens to be a former resident of Newark. The high rise building which is nicknamed as Shaq building was as a result of a partnership between The NBA superstar, Boraie development, and the city to help grow the town of Newark.
According to a statement by Newark’s mayor Ras Baraka, most projects don’t often go through because they lack the required financial support required to see their implementation. He then went on to thank Shaquille O’Neal for not forgetting his roots and also thanked other partners such as Boraie development who played an essential role in the successful execution of the project. When asked what motivated him to give back to his community through the project, Mr. O’Neal said that his mother urged him to restore the beauty of the town while he was still very young. By participating in the project, he had fulfilled his mother’s wish. You can check out rutgers.edu for more details.
In addition to 1 Rector Street, the event also saw the launch of project Newark which is aimed at assisting minority groups such as women who want to build a high flying career in the construction industry.
During his speech, Omar Boraie said that it is through the sheer cooperation of Newark city that 1 Rector Street saw its completion. He further added that residents were free to apply for a lease by September as the mall would be open to the public by the end of the year.
About Boraie development
Boraie development is a family owned real estate company known for its unique approach to establishing high-end buildings and structures in less developed areas. In other words, Boraie development focuses on growing less developed areas through innovative strategies such as redeveloping neglected urban areas and giving them a new refined modern outlook. This helps attract new investors to such regions thus helping them grow.
The one rector street project in Newark is one among the many projects which the company has had a hand in and there are many others. The company was established by Omar Boraie and works together with contractors, financial institutions, and famous architects to complete its projects just like it did with the high rise building in Newark.
This is indeed a unique approach because most companies in the real estate sector often target more developed and famous areas for their projects. They tend to forget that even the less-than-perfect urban regions pack a lot of potential. Boraie development is indeed a game changer in the real estate arena. For more info you can check out bloomberg.com