As president of the New Brunswick Development Corp., Paladino has set the standard for what it means to be a developer in New Jersey. Under his leadership, DEVCO has initiated, developed and managed nearly 5.4 million square feet in residential, commercial, academic and institutional activity valued at over $2 billion by focusing on a unique brand of public-private joint venture partnerships.
With Paladino at the helm, DEVCO and Pennrose LLC opened the $172 million, 23-story New Brunswick Performing Arts Center and residential tower in September — a partnership with Rutgers University, the George Street Playhouse, Middlesex County, the Crossroads Theatre and American Repertory Ballet.
Also in New Brunswick, DEVCO, RWJBarnabas Health and the Rutgers Cancer Institute of New Jersey are in the midst of developing a $750 million, 12-story cancer pavilion, slated to break ground in the fall.
Paladino also led the development of the $220 million Atlantic City Gateway project, a now-completed public-private partnership to move the South Jersey Industries headquarters and large portions of the Stockton University campus into Atlantic City.
Local and state officials have been aiming to overhaul the city’s economy so that it is not solely dependent on casinos and gambling, after five casinos closed and pushed the city to the brink of bankruptcy before its 2016 takeover by the state. By most accounts, the seaside resort has begun a rebound and, as he did in New Brunswick, Paladino played a key role in remaking the city.