Middlesex County is investing $16 million in a New Brunswick hotel to consolidate its ownership and provide more educational opportunities for students, officials announced Thursday.
The Heldrich Hotel and Conference Center, which opened in 2007, is owned by the Middlesex County Improvement Authority, but there are other shareholders who partially own the hotel and finance it through a diversified portfolio, said John Pulomena, the county administrator.
The cost of buying out the remaining shares, which would make the county the sole owner of the hotel, was $17 million, Pulomena said. The county spent $16 million and DEVCO – New Brunswick’s private, nonprofit real estate development company – contributed $1 million, he said.
“The occupancy doesn’t change,” Pulomena said. “The investment is that it provides both the occupancy and a destination for people who work and vacation in Middlesex County.”
The 35,000-square-foot, 11-story downtown building will be “reimagined as a center for professional development,” officials said.
The change follows the RWJBarnabas Health Workforce Partnership announced last year, which aims to create health care career opportunities for students at Middlesex College and Middlesex County Magnet Schools.
Students could learn from permanent, unionized Heldrich employees in courses such as hospitality, culinary arts, construction management, business administration, skilled trades and more, officials said.
The hotel currently employs 120 people, and more staff will be hired as the project and renovation work progresses, Pulomena said.
In a statement, Ronald G. Rios, Middlesex County’s district administrator, called the investment a “groundbreaking moment” for the county’s future.
“Innovation is a hallmark of Middlesex County and we are innovating in workforce development, enabling a strong economic future for our community, building new educational pathways for our county’s students and creating jobs,” he said.
The county hopes to create a “world-class hospitality industry” that will be known not only in New Jersey but throughout the restaurant industry, officials said.
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You can reach Brianna Kudisch at [email protected].
