Shaq Launches RE Development Company

Basketball star Shaquille O'Neal has announced the formation of The O'Neal Group, a Miami-based real estate and development company that will seek out joint ventures to undertake select projects across the United States.The company's first project will be MDM Development's Metropolitan Miami, a billion-dollar mixed-use development anchoring downtown Miami's urban renewal, the O'Neal Group said. "This is the largest residential development project in downtown Miami proper, and it sits on the site where the historical Royal Palm Hotel used to be, the property that first launched downtown Miami more than 100 years ago," Mr. O'Neal said. In addition to South Florida, the company will focus on Mr. O'Neal's native state of New Jersey, other select markets in the Northeast, Los Angeles, and Louisiana.