NEW BRUNSWICK - In 2016, Rutgers University opened “The Yard,” a student housing and retail complex along College Avenue built under the direction of the New Brunswick Development Corp.
Now the corporation, the non-profit development arm for the city of New Brunswick and commonly known as DevCo, is replicating the housing and commercial construction more than two hours away, in Atlantic City.
On a 10-acre tract of land once slated to be the site of the Hard Rock casino, DevCo is now building housing and retail and medical office space, and classroom and faculty offices for Stockton University’s Atlantic City campus.
DevCo, which purchased the property and is directing the developing, is working on the $210 million project in a partnership with Stockton, Atlantic County, the New Jersey Economic Development Authority and Casino Reinvestment Development Authority and South Jersey Gas.
The gas company will will occupy 80,000 square-feet of office space for its headquarters in the finished project.
Although DevCo has previously directed work for Rutgers in New Brunswick and Newark, this is the agency’s first effort for another school or in another part of the state, said Christopher Paladino, executive director of the New Brunswick Agency.
“Given our expertise, we were asked by the state to get involved,” Paladino said.
Dennis Levinson, the executive for Atlantic County which sold the bonds for the Gateway project, praised DevCo for the agency’s work on the project.
“They've done a good job,” said Levinson, who said he is familiar with DevCo’s reputation and has met with principals for the agency.
“We believe they are a top-notch firm,” Levinson said.
Gateway will have housing for about 520 students, more than the The Yard, which has a capacity for 442 students.
Stockton’s academic building is designed to accommodate 1,800 students.
With student apartment units along the city’s boardwalk and beach front, the residential building will have storage space for bicycles and surfboards.
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