Shaq and Mayor Ras Baraka to Host Tournament in Nerark
Shaquille O’Neal is set to co-host a basketball tournament in Newark, New Jersey, where he hails from. The retired basketball superstar will be co-hosting the tournament with the Mayor of Newark, Ras Baraka.
The August 22nd tournament, dubbed “Believe in Newark”, is for high school boys and girls and features separate tournament for boys and girls. Registration for the tournament was held over the weekend, as mentioned here in NJ.com.
The tournament’s preliminary games are to be held this weekend. The venue for the tournament will be the JFK Recreation Center.
Though Shaq left his hometown for Texas to play high school basketball, he has always been involved activities in his town of birth throughout his high-flying career.
The NBA superstar has been involved in many charitable projects. One of them is the renovation of an old Theatre on Springfield Avenue (CityPlex12 Newark) costing $7 million undertaken jointly with a New Brunswick developer in 2012.
This is one of the projects that Mr. O’Neal and Boraie Development are working on in an effort to provide housing and commercial real estate developments into New Jersey’s distressed areas.
Among the cities set to benefit from the undertakings is Newark, although the project targets other New Jersey cities as well.
The alliance between Shaq and Boraie Development is an ideal one: Shaq brings in his high-profile persona and funding whereas Boraie Development provides a lot of experience as well as political contacts. Both are requiredfor the ultimate success of the joint undertakings.
Another project is a rental complex in downtown Newark originally estimated at $60 million. It was the first new housing tower in downtown Newark in more 50 years.
Other projects being undertaken by Mr. O’ Neal and Boraie Development include a retail complex and market-rate housing tower in Atlantic City and several other development projects for Newark.
The development projects are part of an equity stake deal with Mr. O’Neal as a co-developer in the development projects. Mr. O’Neal is involved with the planning of the real estate developments.
For Mr. O’Neal, the developments are part of his giving back to the city and state he was born and raised in. For Boraie Development, the developments are a great investment both financially and as part of PR, CSR and winning the hearts of New Jersey residents.
The Boraies and Mr. O’Neal met through Shaq’s uncle, Mike Parris and started talks on teaming up in 2005, with Newark being their first target for the joint developments.
This has resulted in great successes as the team of Shaq and the Boraies has been able to leverage their different but complementary skills, benefiting the residents of Newark and New Jersey at large.