O'Neal Group's first project will be Metropolitan Miami, also known as the Met, which is being built by Miami-based MDM Development Group. The Met will have 1,100 residential units, including the 866-foot Met 3, the tallest residential tower south of New York, as well as an office tower, a hotel and the area's first Whole Foods Market Inc. store. O'Neal plans to open a 24-Hour Fitness/Shaq Ultra Sport gym at the Met.

O'Neal, who has a five-year, $100-million contract with the Heat through the 2009-10 season, has been involved in numerous off-court projects, recording five rap albums, launching his own clothing line, starring in three movies and working for police departments in Los Angeles and Miami during the NBA off season.

O'Neal follows athletes such as tennis stars Andre Agassi and his wife Steffi Graf, who this month announced plans to invest in a ski resort in Idaho. Earvin "Magic" Johnson, like O'Neal a Los Angeles Lakers veteran, has a company that finances developments in urban areas.

O'Neal Group plans to focus on mixed-use developments that integrate residential units with such amenities as fitness centers and supermarkets.

Edwina Baniqued