New Brunswick Development

New Brunswick Development Corporation (Devco) was established in 1976 as a nonprofit development company to initiate redevelopment projects and to serve as the vehicle for public and private investment in the City of New Brunswick. Since that time, Devco has overseen and managed over $3.5 billion of redevelopment activity including the development of residential, commercial, office, and other projects in order to aid in economic revitalization. Devco undertakes community development projects as may be necessary to promote and improve the economic, social, cultural, institutional and physical environment of the communities that it serves. Devco has developed a model that allows it to fulfill its mission in ever changing real estate and market conditions. It has focused on developing strong local collaborations and using true public private partnerships to promote and successfully carry out redevelopment projects. Devco, together with its public and private partners, work together to conceive of important and essential redevelopment initiatives, develop sound project financing structures, put together teams of highly qualified professionals and contractors, successfully complete projects and manage the assets once complete. Devco’s use of public-private partnerships brings a business-oriented approach to its planning and redevelopment projects. Devco has built new public schools and state-of-the-art health care facilities, created public office buildings, hospitality ventures, and major mixed-use development initiatives and developed market rate, senior, student, and affordable housing, as well as participated in the planning necessary for continued growth and revitalization.