The Aspire, Boraie Development’s luxury tower, opened up for leasing for summer occupancy. The Aspire is located at 135 Somerset St. New Brunswick. Trendy renters in the highly populated city will now have an option of residing in a modern residence. The building is situated near New Brunswick train station bringing about convenience for renters.
The Aspire is surrounded by a neighborhood full of recreational and dining facilities. It is close to major social amenities such as Robert Wood Johnson University Hospital. It has everything for a renter who loves modern interior and exterior designs. The high-end apartments, ample parking space with a direct access and state-of-the-art flooring designs comes together nicely to give trendy renters a great experience staying in the building. It has been Boraie Development’s mission to build state-of-the-art properties around cities.
Recently, Boraie Development partnered with Shaquille O’Neal, a former National Basket Association star, to bring development of commercial and housing properties to the distressed areas of New Jersey. The former basketball star collaborated with the prominent developer in New Brunswick to renovate an old theater to what is now known as CityPlex12 Newark. The combination of the two entities will be sure to drive developments in the city and beyond because of the financial capability of Mr. O’Neal and the extensive experience and political contacts of the developer.
Recently, the two titans in the real estate unveiled $60 million rental complex in Newark. The complex is the first in 50 years. Mr. O’Neal gets an undisclosed equity stake in the company in reward for the financial aid he provides. They are looking to develop a housing tower, Movie Theater as well as retail complex in Atlantic City. There is three other developments underway in Newark.
Shaquille O’Neal views the new wave of property development as a good way to give back to the city he grew in. He values smart investments and he is ready to finance right products. Boraie Development has built several commercial and residential properties in New Jersey. Boraie was started by Omar Boraie when he came to the United States to get his doctorate. He diverted from chemistry to real estate shortly after arriving in the US in the 1970s. His children also ventured into the real estate and they are now working with him.
The partnership started back in 2005 when the initiated talks on teaming up and bringing modern properties to Newark. Boraie got in touch with Mr. O’Neal through his uncle, Mike Parris. Since then, they have developed phenomenal properties including The Aspire.