'Shaq Tower 2' In Newark Nearly Ready; NBA Legend Builds Housing In NJ

NEWARK, NJ — Newark marked another big milestone from a celebrity-turned-housing developer on Monday when Shaquille O’Neal returned to the Brick City to give an update about “Shaq Tower 2.”

O’Neal, a Brick City native, was among those present at a topping-off ceremony for 777 McCarter, which officials say is the “largest 80/20 mixed income project in New Jersey.”

Built under Newark’s Inclusionary Zoning Ordinance, 20 percent of its 370 apartments will be classified as “affordable.” But just because it has affordable housing doesn’t mean it won’t have swagger. The building will have a range of amenities when it’s complete, including a roof deck lounge, a fifth-story gym and outdoor pool, 24/7 concierge service and 12,000 square feet of retail space for fine restaurants.

It will also house a penthouse apartment that will become the new home of the NBA Hall of Famer, who is partnering with Boraie Development on the project.

“When I first met Mayor Ras Baraka, we talked about restoring my favorite city to its past glory,” O’Neal said. “Today, looking around Newark, you can see what teamwork and commitment looks like under true leadership.”

777 McCarter got a big assist from local and state officials, netting New Jersey Housing and Mortgage Finance Agency tax credits in 2018 and a 30-year tax abatement in 2020 from the City of Newark.

It’s also expected to give back to the community, city officials said. 777 McCarter is expected to create nearly 500 construction jobs while it’s being built, and 50 permanent jobs when it’s complete. Many of the construction workers are participants in Project IMPACT, a training program for Newark residents that enables them to obtain positions in local labor unions.

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According to a statement from the office of Mayor Baraka:

“The ceremony is an important milestone in fulfilling Mayor Baraka’s vision of making Newark’s business district a 24/7 walkable and environmentally sustainable downtown, with mixed income residential and retail spaces that are active day and night, infusing downtown with life. With a location across from Newark Penn Station, many of the residents are expected to commute by train to New York or to work in Newark.”

Baraka was on hand to cheer as the final beam was hoisted into place at the topping-off ceremony.

“Today, when we have billions in development going on, it may be easy to forget that not so long ago, Newark was a city where developers feared to come and invest, where the entire city had a heavy red line around it,” Baraka said.

“This is a time to honor those who had the vision to invest in Newark when others did not,” he added.

• See related article: NBA Legend Shaquille O'Neal Is Building Skyscrapers In Newark

Gov. Phil Murphy also had praise for the new building that will soon be home to one of basketball’s biggest icons.

“Newark has proven to be a City of Opportunity within our State of Opportunity, and with the many upcoming developments in this area, I am proud that the top priority remains for there to be quality affordable housing for the residents who call this city their home,” Murphy said.

777 McCarter isn’t O’Neal and Boraie Development’s only foray into Newark real estate. According to Baraka’s office:

“The Boraie-O’Neal partnership showed their faith in Newark by becoming involved in other transformative projects. They built CityPlex 12, a complex of 12 new movie theaters that opened in 2012, the first new theater in three generations. They were pioneers in creating Mulberry Commons. They gave Newark 50 Rector, downtown’s first high-rise in more than 50 years. Now, they are creating 777 McCarter and they, along with their current finance partners, are about to begin on 930 McCarter, a spectacular residential tower that will transform a long-neglected section of the Passaic River waterfront. And there’s more. They are about to partner in the revitalization of the Dayton neighborhood, with new mixed income housing on the site of the deteriorated Seth Boyden public housing with Goldman Sachs and NJEDA.”

Monday was a busy day for the basketball legend. The Shaquille O'Neal Foundation also announced that it will be refurbishing the public basketball courts at David L. Warner Park on Hawthorne Avenue in Newark.

CELEBRITIES CREATE HOUSING IN NEWARK

O’Neal isn’t the only celebrity who is trying to boost the Newark community by creating housing.

In April, Dana Owens – otherwise known as Queen Latifah – was among those present at a groundbreaking ceremony for the Rise Living housing development. The new development will transform several properties along 19th Avenue, South 16th Street and South 17th Street into modern housing and mixed-use spaces. Developers said 16 units will be classified as affordable housing.

The music icon said it was important for her to build something in the city that Queen Latifah could live in … not just Dana Owens.

"What I want you to understand is that there's love in this city," Latifah continued. "There is love in this community."

• Read More: Queen Latifah Ushers In Newark's Latest Housing Development

In 2020, Newark city officials found an ally in former Major League Baseball All-Star Mo Vaughn and his company, Omni America LLC, which helped to rehab a notorious apartment building that Baraka previously called a “stain on the city.”

No tenants were displaced during the rehabilitation project, which began in the fall of 2018 and took 18 months to complete

• Read More: Newark Families Keep 'Human Dignity' With $172M Apartment Rehab

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