New Brunswick, NJ - The City of New Brunswick and New Brunswick Development Corporation (Devco) broke ground today on the New Brunswick Performing Arts Center (NBPAC) project, a $172 million redevelopment initiative that will transform New Brunswick's Downtown Cultural Arts District. In a legislative climate where municipalities are challenged with creative ways to implement affordable housing, this redevelopment exemplifies the power of thoughtful and sustainable public-private partnerships that can lead to the long-term well-being of our communities.
In 1976, shortly after Johnson & Johnson announced its intention to build its new world headquarters in downtown New Brunswick, the city's governmental and corporate leadership banded together to create the New Brunswick Development Corporation (Devco) to serve as a nonprofit urban real estate development company in order to jumpstart the city's economic resurgence.
In addition to the high-quality housing her company builds, she stresses the importance of building relationships - with her residents, local municipal officials, and like-minded investors who see the value in supporting the fiscal revitalization of neighborhoods in need of their support.
New Brunswick Development Corporation (Devco) is a private, nonprofit urban real estate development organization created in the mid-1970's to initiate redevelopment projects and to serve as the vehicle for public and private economic development investment in the City of New Brunswick, the State of New Jersey and other New Jersey communities.
Real estate offers a wide variety of careers paths in a range of commercial sectors - Investment Analyst, Asset Management, Development, Commercial and Residential Brokerage, Appraisal, Commercial and Investment Banking, Property Management and Mortgage Brokerage.
The neighborhood is surrounded by wonderful dining options, entertainment and night-life spots to entertain even the most discriminating lifestyle and is near Robert Wood Johnson University Hospital, Saint Peter's University Hospital and Rutgers University's Downtown City Center.
This project is a great example of what the public and private sectors can do when we work together toward a common goal of investing in our communities in ways that create jobs and promote economic activity,” said New Jersey State Senate President Stephen M. Sweeney.
Prior to founding TANTUM, Ms. Tantleff was a Vice President of Development at Roseland Property Company, where she established a highly-acclaimed reputation Omar Boraie for delivering exceptional mixed-use projects, with a portfolio consisting of more than 5,000 residential units and 200,000 square feet of retail space.
Today, even in some of the most challenging times in our country's history, redevelopment in the city remains robust because of DEVCO's unique approach to redevelopment. Mr. Taylor said it soon became clear that both lots should be developed for residential use, given the success of the nearby Riverwatch projects and the feeling that the demand in general in the city was stronger for housing than for more offices.
By transforming the declining neighborhood adjacent to the train station through this high-density, mixed-use redevelopment project, DEVCO anticipates substantial benefits for New Brunswick. New Brunswick's Redevelopment Authority named the group the developer of the 10.5-acre parcel, bounded by Route 18 and Burnet, George, New, Liberty and Richmond Streets.