Category Archives: City Development

Watching A New Hotel Rise Over An Old Neighborhood

New Jersey is a state with a heritage that dates back to the thirteen colonies, and communities in the state must rebirth themselves every few decades. Watching new developments come to life in New Jersey is the purpose of Devco as outlined by the Press of Atlantic City. This article offers a story of the community that is saved by work done through Devco.

#1: Devco Is A Lender

Devco is a governmental loan agency that works with cities, counties and states providing money for new project. Elderly communities must be reborn in a new light, and the citizens may watch a new hotel or shopping mall appear seemingly from nowhere. Devco creates loans that pay for each project, and they are intimately-involved with the creation of the development plan.

#2: Development Plans Change

Cities or counties may have ideas in-mind, but they cannot bring their ideas to life without proper training or perspective. Devco provides both, and they send in a development team that shows the city how they may benefit from a new shopping mall or entertainment development.

#3: The Tax Revenue Is Key

The tax revenue for each development is key as it pays for low-income housing, better schools and a higher quality of life in the community. New Jersey is not the only state in need of an improved quality of life for its citizens, but it is taking the boldest approach to the problem.

#4: How Does Devco Work?

Devco works with communities every day creating an image of what they believe is best. Their commitment to the process of development brings New Jersey cities renewed purpose, and their communities watch as life returns. Devco stands at the heart of every choice development as their millions pay for cities to remake their skyline once again.