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Shaq Attacks the Community Revitalization of Newark

The 7 ft 1 inch tall basketball icon, Shaquille O'Neal, is reaching into very deep pockets to rebuild a community. Barely 20 when he rose to fame, he's now 43, and helping his hometown of Newark, New Jersey rise up too. A retired professional athlete entering investment based real estate is no surprise to me, and no great fete for such a wealthy man. However, Shaq & Boraie Development just refurbished a community loved, yet neglected movie theater, and are now breaking ground on development of the likes that Newark hasn't seen in over 50 years. The domino effect could be extraordinary. The families, who will be housed in this new high rise community, will certainly be glad that Shaquille O'Neal supports the community from where he came.

The Community Revitalization Project

Neighboring the New Jersey Performing Arts center, a new high rise will be supporting the Newark Community Revitalizationeconomy in more ways than one. Adding to the 169 market-rate apartments, are plans for 7,600+ sq ft. of retail space, and 117 parking spaces. A certain draw for commerce, and a hub for community revitalization. Shaquille O'Neal & New Brunswick-based Boraie Development have partnered again: “Expected to cost in upwards of $61 million dollars, it was awarded $23.8 million in Urban Transit Hub tax grants from the state Economic Development Authority, along with assistance from Newark. Goldman Sachs provided financing, while Newark-based Prudential Financial bought redevelopment area bonds issued by the city.” Read more.

This development, on the heals of the Cityplex 12 theatre rehab of 2012, puts Newark New Jersey back on the map as a community on the rise. With positive economic effects, inspiration is back, alive and paving a future for Shaq's home town to thrive.

Related Article: Why New Jersey Is the New Hotspot for Real Estate

Deep Pockets Doing Good 

The pockets of a 7 foot tall basketball icon are deep by mere virtue of his pant size, but how and where he chooses to invest his money may tell of a character just as deep. This also points to the two-fold importance of us supporting our own communities, and of our communities inspiring and lifting up individuals too. Any number of devastating influences could have taken Shaquille O’Neal down a much different path. Shaq’s life illustrates the power of a community investing in their youth. He openly credits the Boys and Girls Clubs of America Community Revitalizationfor providing attention and distraction during the times young people walk a precarious line. A line between “making it” as they follow dreams, and “falling prey” to the demise of boredom and dark influence. Without such a community determined resource, the Give-Back-Shaq of today may never have made it onto a court at all. His lifetime achievements to date illustrate the effect of talent, but also of crowdinvesting inspiration into lives of people, so that their talent pays off!

Free Download: The Newark Report

The collective investment of crowdfunding, crowdinvesting, and general crowdthinking effects authentic and immeasurable relief. A Shaq-like revival can occur anywhere that gathers collective thought and resources. Real estate crowdfunding ~ creates collective success in communities who could once only catch a glimmer of hope. Newark, New Jersey's revival may not be over. If real estate crowdfunding plays a role, the glint of light on this community revitalization will most certainly spread yet further. What could be next in the ever increasing list of New Jersey community potential?

What do you think of Shaquille O'Neal giving back to his community? Should athletes feel an obligation to contribute more of their wealth to revitalizing communities at home and far? Leave a comment and let us know your thoughts.

If you want to learn more, take a look at some of the most commonly asked questions we receive about real estate crowdfunding on a daily basis and find out why so many people are crowdfunding real estate projects across the country with Patch of Land.
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