Last month saw the Middlesex County Improvement Authority fail to submit a payment of $1 million in principal as well as interest on a loan bankrolled back in 2005. The loan, totaling $20 million, was from the Casino Reinvestment Development Authority. The Improvement Authority has already racked up $7 million in missed payments over five years.
The loan was used in the construction of the Heldrich on pressofatlanticcity.com, a new hotel and conference center in the city of New Brunswick that was developed by the New Brunswick Development Corp. State Senate President touted the corporation as an ideal of what happens when public resources are channeled through private firms for the execution of large construction projects.
The Heldrich, which has 235 rooms, was opened in 2007. This was a time that the economic downturn was creeping in. The hotel has not had as many guests as expected, with last year’s occupancy rate standing at 63.5%. Its largest account was Johnson & Johnson. The executives of the organization are also board members of the New Brunswick Development Corp.
DEVCO (New Brunswick Development Corporation) is a private nonprofit firm that specializes in urban real estate developments. DEVCO has been a catalyst for the huge number of projects that has seen New Brunswick emerge as a statewide leader in sectors that include education, healthcare, travel and government.
For every project that DEVCO undertakes, there is a set of goals to be achieved. Each of the goals has a component of service both to the community and greater public. Since being founded in the mid-1970s, DEVCO has overseen investments of approximately $1.6 billion in New Brunswick.
For the original article by the Press of Atlantic City, click here.
Greg D. Hague is a businessman with a mission. He wants to transform the home selling process in the United States. He believes that selling homes is a concept that has remained roughly the same for 75 years now. He also thinks that that’s outrageous. Hague has conducted research that indicates that the method used is not at all practical or effective. His research shows that people tend to lose between 3 and 8 percent on their home sale prices. Hague has just established a brand new real estate coaching firm called Real Estate Mavericks. His priority with this company is to offer real estate coaching assistance. Real estate consulting is one of Hague’s big areas of expertise.
Hague is based in the city of Scottsdale, which is located just outside of Phoenix, Arizona’s capital city. He wears many hats. He has launched numerous businesses, to be specific. He is an author. He’s a law professor. He’s a lawyer. He even works with Harvey Mackay, the writer behind “Swim With the Sharks.” This book was a bestseller named on The New York Times’ respected list. Hague has gone into business with Mackay as a partner.
Hague was born on September 30th in 1948. He’s a native of Cincinnati, Ohio. He attended the public institution Miami University in Oxford, Ohio. He graduated from the school in 1971 when he earned a Bachelor of Science degree. After that, he earned a J.D. (Juris Doctor) degree from Washington, D.C.’s American University. He attended the Washington College of Law while there. He got this degree in 1974. Hague was only 18 years of age when he got his initial license in real estate. He got his initial law practice license merely 8 years later, too, when he was only 26 years old. This occurred in 1974, the same year he completed his J.D. degree.
He began his career by working with his family members. They had a business called Hague Realtors. This company was notable for being among the Cincinnati region’s biggest brokerages. Hague took it upon himself to establish his own real estate agency toward the end of the 1970s, in 1978. He named this company Heritage House Real Estate. It took only about a year for this company to take off and turn into a massive brokerage in the city. The firm expanded and had 220 real estate agents, 11 separate offices and 600 plus listings for properties within a rapid period of time. Heritage House Real Estate, however, quickly closed its doors. Dropping real estate transactions and significant interest rates in the market forced the agency to shut down in 1980, only two years after it began in the first place.
Hague has written pieces for illustrious publications such as the Real Estate Law Journal by the Arizona State Bar. He also released a book in the summer of 2013. This book was titled “How Fathers Change Lives” and was about inspiring parents.
Hague is currently married to wife Roseann Hague. The pair have three children together.
Read more at Forbes online