- The 2.16-meter tall, former basketball player, Shaquille O'Neal, has developed a 33-storey apartment to provide accommodation for residents in the neighbourhood
- He attended an event at the site as a "topping off" ceremony to mark the near completion of the building
- The former basketball player is known for being a philanthropist who gives back to his community in any way he can
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Shaquille O'Neal is in the news for all the right reasons. He is building a 33-storey apartment in Newark, the USA, called "777 McCarter" to provide accommodation for people in the neighbourhood.
The building will consist of 370 studio apartments and one and 2-bedroom apartments, where 20% of the units will be set aside as affordable units, which is mandated by the city. These units will be placed aside for families earning up to 50% of the median income in the region.
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The idea is to rent out the remaining units at the standard market rate, estimated to be between $2,000 to $3,000 per month, depending on the number of bedrooms.
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The topping-off ceremony held for the 777 McCarter building meant that the fundamental structure of the building had been completed through to the 33rd floor. However, construction is projected to last another ten months before tenants start moving in the following year.
Check out a video of Shaquille speaking at the event below.
Shaquille O'Neal may be the brain behind the project, but it is financed by Goldman Sachs, CitiBank, and Prudential Financial.
It will not be the first time Shaquille O'Nealhase has done something this spectacular. In 2019, he partnered with a real estate company to build an $80 million luxury apartment building with 22 floors.
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