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$90M MXD Set for Former School Site

NEWARK, NJ - Basketball star Shaquille O'Neal is part of a partnership set to build the 25-story residential and retail tower.

By Eric Peterson | Updated on August 06, 2008

NEWARK, NJ – Development and city officials have rolled out plans for One River View at Rector, a $90-million, 25-story condo tower with a retail component at 36-54 Rector St., the site of the former Science High School. The half-acre site is in the heart of this city’s downtown business district.

The developer of the project is Boraie O’Neal Urban Development, a partnership that includes basketball star and Newark native Shaquille O’Neal and his two-year-old O’Neal Group, and the New Brunswick, NJ-based Boraie Development LLC, headed by chairman Omar Boraie. “Newark now has a strong civic vision that makes this development possible,” Boraie says.

Under the terms of the redevelopment agreement with the city, the existing façade of the former Science High School will be retained. Plans for the 25-story tower call for 152 market-rate for-sale condos, a 154-space parking garage and 6,500 sf of ground-floor retail. The site in this city’s Central Ward is within walking distance of the New Jersey Performing Arts Center, Washington Park and several commercial office towers.

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