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Completion:
October 1999
Location: Central
business district, Bayard and Kirkpatrick Streets
Size: 115,000 sq.
ft.
Tenants: County of
Middlesex
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Developer:
Devco and Keating Development Company
Architect: Rothe-Johnson-Fantacone
Investment: $50 million
(includes Civic Square Public Safety Building)
Financing: Self-issuing
Certificates of Participation underwritten by CoreStates
The Civic Square
initiative represents New Jersey's first privately conceived, planned,
developed, constructed, and maintained government complex. At the
conception of the project, the city and county governments were
faced with a critical need to renovate outdated and inefficient
government buildings to accommodate current needs as well as future
growth. Rather than assume costly and lengthy renovations through
taxpayer-based financing, Devco proposed the development of a new
government complex, created through an innovative public-private
partnership, to deliver the buildings more timely and less expensively.
This would prove to be not only the best economic alternative for
the government entities and the taxpayers, but also the impetus
for expansive revitalization efforts in the heart of the city.
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