Monthly Archives: June 2016

The Haunted Hotel Heldrich: Devco Struggles to Repay Massive Loan

It seemed like a good idea at the time.
This is what officials at the Casino Reinvestment Development Authority (CRDA) likely tell themselves when they check the balance on the $20 million loan they issued to build The Heldrich hotel in New Brunswick. This January, New Brunswick Development Corporation (DEVCO), builders of the Heldrich, missed yet another installment, adding another $1 million to the $7 million in payments missed since 2011.

The 235-room hotel debuted to fanfare in 2007, shortly before the economic downturn. In years since, business hasn’t lived up to expectations. Most customers today come from nearby Johnson and Johnson. J&J executives happen to sit on the board of Devco. Revenue has been tight enough to force Devco to dip into their own funds to pay for needed repairs to mattresses and carpets.

Attorney Christopher Paladino heads both Devco and its sister organization, the Atlantic City Development Corp. He arranged the loan for The Heldrich. So far, only senior bond holders have seen timely payment on the $107M total borrowed for the project. Paladino states that as a subordinate lender, CRDA anticipated the potential of slow repayment. In a recent article in The Press of Atlantic City Paladino asserts all creditors will eventually be repaid.

Eyes are on The Heldrich as a model for similar redevelopment in Atlantic City.

Devco has made news in the past as a pioneer in uniting public funds and private capital for redevelopment projects in New Brunswick. Their projects have included Liberty Square, the Middlesex County Administration Building, and Skyline Tower. Many of Devco’s efforts have been praised for modernizing New Brunswick.

Since its founding in the 1970’s, Devco has overseen nearly $1.6 billion in funds dedicated to rebuilding New Brunswick. They pride themselves on innovative funding structures and mixed-use projects.

First time experiencing the Wen by Chaz cleansing conditioner!

WEN Hair by Chaz offers a hair care line that works for all hair types. The line is known on QVC for its product that combines shampoo, conditioner and styling treatment all in one bottle. The product line is supposed to restore your hair’s shine, elasticity and repair damaged strands. An article written by Emily McClure on Bustle gives an in depth review of the product with real results.
http://www.bustle.com/articles/136320-i-used-cleansing-cleansing-conditioner-on-my-fine-hair-heres-what-happened

After a long day of travel, Emily’s fine hair is in need of a good wash and style. She decides to start her Wen hair cleansing conditioner treatment. After dispensing 10 pumps of the cleansing conditioner, she massages the product throughout her hair and in to her scalp. Her hair instantly feels thicker in the shower. After rinsing her hair, she proceeds to style per her usual routine. She notices that her hair is shiny and bouncy.

The next morning, her hair is unexpectedly in need of washing again due to her hair being greasy and flat. Again, she washes her hair with the cleansing conditioner, then styles as usual. She is left with shiny, bouncy hair.

The next day, Emily wakes up to to check her roots. They are not as greasy as the day before. She decides to shower, making sure she fully rinses out the product. She uses other products to styler her hair this time, but still finds the end results to be pleasing. She repeats this process again the next few days. When Emily decides to curl her hair after using the cleansing conditioner she finds that her waves fell quickly but her hair was very soft.

Overall, this Amazon available product is great for those who plan to shower and style their hair every morning. The product gives extra shine and bounce to Emily’s fine hair strands.

Visit http://www.wen.com/ for more details.