Liberty Plaza highlights Devco's greatest
strengths: foresight and planning rooted in an intricate understanding
of New Brunswick and the greater economic forces that drive its
market potential. This successful mixed-use facility located in
the heart of the city's district further transforms the landscape
of the downtown area while drawing nearly 500 jobs and increasing
the municipal tax ratables of an entire city block by 300%. This
new office and retail complex also bolsters the health care industry's
presence in New Brunswick, and builds upon Devco's prior investment
in the nearby Cultural Center and Civic Square Districts.
completed:
July 1998
location: central business district
on George Street, at intersection of
Liberty Street and Livingston Avenue
size: 135,000 sq ft (115,000 sq ft
of administrative space,
20,000 sq ft of street level retail and restaurant space)
occupancy: Administrative Headquarters
of UMDNJ
(University of Medicine & Dentistry of NJ), retail leasing tenants
developer: Devco and R. Berman Development
Company
architect: DMR Architects
construction manager: Gilbane Building
Company
investment: $23 million
financing: self-issuing certificates of participation
underwritten by Lehman Brothers
