Advance Realty Investors is an integrated real estate, investment, development, and management firm with a diversified portfolio throughout the Northeast. Along with the construction of high-quality affordable housing, the HOPE VI revitalization effort was designed to include an extensive resident services and community-building program component geared toward helping families achieve economic self-sufficiency. Run by the US Department of Housing and Urban Development (HUD), the program was designed to transform failing public housing developments, in part through the creation of new mixed-income communities and the integration of public housing in non-poverty neighborhoods. During the Cold War , the community was revitalized by the decision to process the tens of thousands refugees who came to the United States from the failed 1956 Hungarian Revolution at Camp Kilmer , in nearby Edison 56 Even though the Hungarian population has been largely supplanted by newer immigrants, there continues to be a Hungarian Festival in the city held on Somerset Street on the first Saturday of June each year; the 44th annual event was held in 2019. Located in the heart of the Urban Enterprise Zone (« UEZ »), this 57,000 square foot combination retail and flex-warehouse project known as « Jersey Plaza » is located on the heavily traveled Jersey Ave that runs between Route 1 and Route 27. These state of the art Omar Boraie buildings enjoy the newest amenities and take full advantage of the 3% sales tax offered in the UEZ and the combination of retail, office, light manufacturing, and warehouse distribution makes this a truly unique project for all types of commercial users. The New Brunswick Development Company (DevCo), formed in 1975 by Rutgers, Johnson & Johnson, and the New Jersey Economic Development Authority has assured the continuation of growth with a budget of $1.6 billion and has participated in the development of over $700,000,000 of new construction and a 27% increase in the number of jobs in the city in the last 10 years. |
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