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| NEW BRUNSWICK, NEW JERSEY, September 12, 2003 � Ground will be broken
on Wednesday, September 17, 2003 at 11:00 a.m. for one of New Jersey's
most significant urban economic development investments: Heldrich
Plaza. Ideally located in New Brunswick, which is in the heart of
New Jersey, the property is near the Northeast Corridor train service and
Exit 9 of the NJ Turnpike. The $102 million, mixed-use facility will
include a hotel and conference center to be managed by Benchmark Hospitality
of The Woodlands, Texas.
The groundbreaking ceremony will include New Jersey Governor James E. McGreevey, New Brunswick Mayor James M. Cahill, Rutgers University President Richard L. McCormick, and the project's founder John J. Heldrich. It will take place at the construction site located off New Street and Livingston Avenue in downtown New Brunswick (opposite the renowned State Theatre). Also expected to be in attendance are State Treasurer John McCormac, Department of Community Affairs Commissioner Susan Bass Levin, Department of Labor Commissioner Al Kroll, and Benchmark Hospitality's Chairman & Chief Executive Officer Burt Cabañas. Heldrich Plaza will be anchored by the John J. Heldrich Center for Workforce Development at Rutgers University's Edward J. Bloustein School of Planning and Public Policy. The project will feature 250 deluxe guestrooms, 50,000 square feet of executive conference center space, 30 luxury condominiums, along with academic and retail space. It is considered an integral part of the city�s revitalization strategy. New Brunswick Development Corporation (Devco) is a tax-exempt urban real estate development company created in the mid-1970s to initiate redevelopment projects and to serve as the vehicle for public and private investment in the City of New Brunswick, New Jersey. Since its inception, Devco has overseen more than $1.6 billion in investment to aid in New Brunswick's economic revitalization. Currently Devco has under development approximately 2.5 million square feet of redevelopment projects, representing more than $450 million of new investment. Benchmark Hospitality, an international hospitality management company based in The Woodlands, Texas, operates luxury resorts, hotels, spas, golf clubs and conference centers throughout the United States, in Canada, and Japan. |
| Contact:
BENCHMARK HOSPITALITY
Ken Ellens
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