Corrections or additions?
Author: Melinda Sherwood. Published in U.S. 1 Newspaper on January
19, 2000. All rights reserved.
Development Destination: Booming Hamilton
Hamilton Township’s song of woe — too many people,
not enough businesses — could turn into a jig for developers and
business people, for whom “build it and they will come” is
the mantra.
Take the new AMC Hamilton 24 Theaters for example — the
Kremlin-sized
cinema off of Sloan Avenue or the yet-to-be built Hamilton Market
on Route 130, which will be home to megastores like Wal-Mart.
New development is not limited to shopping malls either; Hamilton
now has its own four-star restaurant — Rat’s at the Grounds for
Sculpture — and a pristine-looking NJ Transit train station.
The explosion of large-scale commercial projects like these are the
sum of efforts between county officials and the Hamilton Economic
Development Corporation and its chairman, Patrick Ryan, who
has set an agenda for development in the area: “We hope to see
Hamilton maintain its position as a high quality-of-life residential
community, but any quality community needs good commercial ratables
to carry the tax burden, particularly the school costs,” says
Ryan. “The reason we formed the corporation was to bring the
commercial
ratables back in line with the residential ratables — we put too
heavy of a burden on the homeowner.”
Ryan, who is also the president of Yardville National Bank, speaks
on “Business Trends in Mercer County: Boom or Bust?,”
sponsored
by the Mercer Chamber, on Wednesday, January 26, at 8:15 a.m. at the
Green Acres Country Club. Steve Tolcash, senior partner at
Buschman
Partners, and Harry Laubscher, senior vice president of Tucker
Anthony, will also offer their insights. Call 609-393-4143. Cost:
$20.
Hamilton’s former mayor, Jack Rafferty, and the recently-elected
Glen Gilmore have opened the doors to business and already
transformed
the tax base, says Ryan. “Now commercial ratables comprise over
25 percent of the tax base, up from 17 percent four or five years
ago,” he says.
Most of the economic expansion is along the Sloan Avenue/I-295
corridor
(where the AMC is located) and on I-195/Route 130 corridor, where
the new Hamilton Market will be built. JDN Realty Corporation of
Atlanta,
a 25-year-old developer whose anchor tenants include Wal-Mart and
Lowes, will break ground on that project this summer. Ralph
Knauss,
vice president for the design and construction at JDN says that a
Genuardi’s supermarket and a wholesale club — yet to be announced
— will also move into the new mall.
With a bevy of new entertainment and commercial venues, the housing
market has made a comeback, says Ryan. “The residential home
people
have told me that the train station has renewed interest in Hamilton
— it makes the commute that much easier,” he says.
Township officials have also limited new residential development to
age-restricted communities (which don’t burden the school system),
resulting in a new demographic trend: “We’re looking essentially
at the graying of Hamilton,” says Ryan. “They tell me that
50 percent of those units are being bought by people outside of
Hamilton
Township.”
As president of Yardville National Bank, Ryan also views Hamilton’s
economic development from the perspective of a commercial lender.
His bank lends primarily to small businesses, real estate development,
and commercial strip centers. “We very rarely lend to a start-up
or new business,” says Ryan. “Seventy-five percent of business
loans are to all different segments of the local business community,
people who have been operating businesses 50 years or more.”
Ryan was raised with his 11 siblings in Buffalo, New York, where his
father owned a business that made wallpaper and jukebox parts for
the Wurlitzer Corporation. Ryan went to Notre Dame, Class of 1967,
and spent three years on active duty in the army after ROTC. He worked
for Manufacturer’s Hanover in Buffalo for 14 years before seeking
out New York City banking experience. He became a commercial lender
with Marine Midland Bank in 1987, and joined Yardville in 1991 as
a senior loan officer, when the bank had only about $175 million in
assets. Today, it has 12 branches, 250 employees, and roughly $1.2
billion in assets.
Yardville lends to clients in both New Jersey and Bucks County. Ryan
stresses the importance of working closely with people to secure
loans.
“In commercial business lending, I try to tell everyone that
nothing
is black and white, everything is gray — keep the dialogue going,
continue to work with the people to get a deal at the end of the day
that’s win-win,” he says. “What I try to teach my lenders
that the deal as it is presented may not be quite what both parties
are happy with, but if the lender takes the time to work with the
individuals in the company many times a satisfactory deal can be
made.”
Ryan’s tips for lenders:
Lend enough money. “It doesn’t help if they need$100,000and you approve $50,000,” he says. “If you want to make aloan, then make sure you’re lending them enough money to besuccessful.”Don’t structure a repayment basis that won’t work forthe lender. “If they need seven years to repay the loan, don’trestructure it to be three years,” he says. “You’re just goingto create a problem.”Ryan’s outlook for Mercer County: “The county is on soundeconomic footing,” he says, but he still has one thing on hiswish list: “I would look for some additional clean qualitycommercialbusinesses to employ more of our local residents.”Top Of PagePlants SurpriseScientists almost universally agree that humans breathein oxygen and breathe out carbon dioxide, and that plants take incarbon dioxide and — using photosynthesis — make oxygen. Theyalso agree on most details of how photosynthesis works. But a Yaleprofessor due to speak at the Princeton chapter of the AmericanChemicalSociety has come to a different conclusion.Robert H. Crabtree, a professor in Yale’s chemistry department,will discuss “How do Green Plants Oxidize Water to MolecularOxygen?A Functional Model Reaction and a Proposed Mechanism for both Enzymeand Model.” The lecture is on Wednesday, January 26, at 8 p.m.in the DuPont seminar room of Frick Chem Labs, Princeton University.It is free, and is preceded by a 6 p.m. dinner at Prospect House thatcosts $20. Call Denise D’Auria at 609-258-5202 (E-mail:denised@princeton.edu).”It is a controversial discovery,” says Warren S.Warren,chair of the chapter and also on the faculty in the chemistrydepartmentat Princeton. “Crabtree actually has a proposed mechanism andfunctional model that are different from conventional wisdom.”(Warren refers to https://www.junkscience.com, for detailedexplanations.)”Photosynthetic oxygen evolution keeps the balance between animalsand plants and many scientists are investigating various pieces,”says Warren. “This scientist is identifying an intermediatespecies,the manganese ions that are commonly exploited in photosynthesis.Because plants are efficient at converting solar energy into somethinguseful, this discovery may have implications for such systems as fuelcells.”Top Of PageMoney Mega-MartsLast year was pivotal for the banking industry. InNovember President Clinton signed into law the Gramm-Leach-Blileyact, a law that essentially dissolves the separation of banks,securitiesinstitutions, and insurance. As a result, consumers will soon seefinancial services mega-marts, says Dennis Casale, an attorneyat Jamieson, Moore, Peskin & Spicer at 300 Alexander Park. “Whatyou’re going to be seeing is a lot of financial Wal-Marts and HomeDepots being created,” says Casale. “Soon you’ll see financialservices companies that can offer one-stop shopping for banking,insurance,and securities.”Already the market is shifting, says Casale. “In some respects,the act was a response to things that are already happening in themarketplace,” says Casale. “For example Travelers and Citibankgot together in anticipation that this act would pass. We are seeingmergers and other types of affiliations between companies so thatthey can offer consumers different choices. There are a number alreadyall poised to provide services both locally and nationwide.”Casale speaks at a seminar on Gramm-Leach-Bliley, sponsored by theNew Jersey Bankers Association, on Tuesday, January 25, at 8:30 a.mat Forsgate Country Club. Call 609-924-5550. Cost: $95. The NJBAseminarcovers how Gramm-Leach affects insurance underwriting and sales,customer’sinformation and privacy rights, reorganization of federal regulatoryauthority over financial services, bank securities activities andsales, ATM fees, and new community reinvestment act concerns. OtherNJBA speakers: Robert A. Schwartz, Jamieson, Moore, Peskin andSpicer PC; Jonathan P. Gabriel, COO of Bankmark; GeoffreyM. Connor, partner, and Jonathan L. Levin, counsel, ReedSmith Shaw and McClay LLP.Gramm-Leach rebuilds the bridges among banks, securities firms andinsurance companies that were demolished by the Glass-Steagall Actin 1933, and invents two new entities: the “financial holdingcompany,” an alternative to the traditional bank holding company,and the national bank “financial subsidiary,” a company havingpowers beyond those of traditional operating subsidiaries.This has implications for both national banks and small communitybanks, says Casale, a graduate of Montclair State, Class of 1975.”For example, there are provisions in this act that allow smallerinstitutions to enter into joint marketing situations so they cancompete with larger institutions,” he says. “A small communitybank could affiliate or jointly market with an insurance agent, forexample.”However, state-chartered banks will not be able to take advantageof all the provisions in Gramm-Leach, says Casale. “The NJBA wantsto introduce amendments that will close those gaps wherever theyexist,”says Casale, “but the act is so new that I think that institutionswill benefit from hearing some of the particular provisions.”Top Of PageFundraising CultureDoes it take something special to raise money —something different from the skills used to make money? Jane A.Silverman, executive director of the Association of Junior LeaguesInternational, addresses that issue at the Women in Developmentmeetingon Thursday, January 27, at 8 a.m., at the Hun School. Her subject:”Changing the Culture of Your Organization to SupportFundraising.”A Princeton native, Silverman went to Miss Fine’s School, majoredin Russian history and literature at Radcliffe (class of ’67), andhas a master’s in city planning from the University of Pennsylvania.After being a city planner, she found herself working as a directorof training for banks, but she left the corporate banking world tostart a business in her basement in the 1984.Silverman presided over that company, Training Management Corporation,as it grew into a $1.5 million international full-service trainingconsulting firm with a blue chip client list that included AT&T,Merck,Bristol-Myers Squibb, Princeton University, American Express, Glaxo,and others.Silverman, who is also a trustee for Radcliffe, Princeton Day School,and a secretary of the boards for the Princeton Area CommunityFoundation,will talk with members of Women in Development about the challengesof fundraising in a dues-based organization.Top Of PageAirport SummitPeople who live near the Trenton Mercer Airport canget the latest environmental reports, collected by the County andthe Federal Aviation Administration, at a Public Information Centeron Thursday, January 20, at 4:30 p.m. at 1625 Quarry Road in Yardley.Information booths will address noise monitoring, noise and airqualityanalysis, forecasting, alternatives, environmental assessment process,and environmental resources and regulations. Graphics and handoutswill be available. Call 609-882-1601.Top Of PageManaged Care: FAQsDirect your managed health care questions to “ToYour Health,” a toll-free hotline for people enrolled incommercial,Medicaid or Medicare managed care plans. The hotline is a projectof the Community Health Law Project, a statewide public interest lawfirm that received support from the Healthcare Foundation of NewJersey,Schering-Plough Foundation, Hoffman-La Roche, Grotta Foundation forSenior Care, the New Jersey State Bar Foundation, and the State ofNew Jersey.A free “Guide to New Jersey Consumer Rights in Managed Care”is also available by calling the hotline at 888-838-3180. For moreinformation, contact 973-275-1175.Top Of PageVolunteer TrainingB>Marge Smith, former executive director of theYWCA of Princeton and a consultant to nonprofits for 20 years, isleading a group of volunteers staging an evening workshop,”CommunityWorks: Workshops for Volunteer Development,” on Thursday, January27, from 5 to 9:15 p.m. at the Princeton University’s Woodrow WilsonSchool. Sponsored by Rotary Club of Princeton, it costs $22 includinga box supper. Networking begins the evening and, some say, is oneof the most valuable sessions.After listening to the keynote speech, participants can attend twoworkshops. The choices include using the Internet for your non-profitorganization, managing conflict, asking for money, public speaking,building an active board, fundraising, accessing foundations andcorporationsfor funding, nuts and bolts of a press release, marketing your image,motivating volunteers, and collaborative projects. Those who registerearly get first priority on their choices. Call 609-924-8652 for aregistration form.Top Of PageCall for EntriesThe New Jersey Apartment Association is accepting nominations forits Seventh Annual Garden State “Visions of Excellence”awards,which recognize outstanding individuals, properties, and servicesthroughout the state. Categories included Regional Manager of theYear, Property Manager of the Year, as well as Best Website, MarketingPlan, and Property Renovation. Submissions are due by February 23.Management companies must pay a $100 fee for the first entry, $50for each additional entry. Call 732-247-6661 or visithttps://www.njaa.com.Entries for the Governor’s Volunteer Awards, which recognizethe admirable volunteer accomplishments of a group or individual,are being accepted. Volunteer service in the following categoriesis recognized: arts, seniors, youth, education, the environment,health,human needs, long term service, and mobilization of volunteers. Thedeadline is February 18. To receive a nomination packet, call609-984-3470.The Business Marketing Association of New Jersey invitescompanies,agencies and individuals to submit their best work for the 2000 ImpactAwards. Creative work may be submitted from numerous categories,includingprint advertising, public relations, direct mail, brochures, annualreports, audio-visual presentations, broadcast advertising andcomputer-basedinteractive media. All work must have been produced and used during1999. Entries must be postmarked February 4. Call 732-417-5601 foran application.Working women who need training or retraining can apply fora Career Development award from the Business & Professional Women(BPW) of Hightstown/East Windsor. The awards are given to women 25years of age or older who are continuing or returning to school —a college or vocational training program. Apply by February 28. Call609-448-5599 for an application.Top Of PageCorporate AngelsKPMG LLP, the accounting, tax and consulting firm withan office at 989 Lenox Drive, made a generous donation to the TrentonArea Soup Kitchen, which provides meals to the inner city residentof Trenton. Call 609-695-5456.The Hyde and Watson Foundation gave the Mapletonroad-basedRegional Planning Partnership $5,000 to buy a computer projector sothat it can demonstrate its new computer model for master plandecisions.Still needed is a laptop computer to complete the setup. ThePartnershiphas just analyzed the regions zoning and discovered that most of thezoning in the three-county area needs to change.Rider University’s Fine Arts Theater now has a name — theYvonne Alexander Spitznagel Theater, thanks to a $250,000 gift fromJohn Spitznagel and his children, Yvonne and John Jr. Spitznagelrecently retired as president and CEO of Roberts Pharmaceutical, a16-year-old biotech company with 130 employees based in Eatontown.He is a Rider journalism graduate (Class of 1963) as was his latewife (Class of 1964), and both were editors of the student newspaperand wrote theater reviews. The gift will pay for a modern light boardand sound system, new seating and carpeting, enhanced stage curtains,and a remodeled lobby.Neighborhood Housing Services of Trenton just received a $20,000grant from the Fannie Mae Foundation, a private foundation thatsupports national and local nonprofits committed to providing decentand affordable housing. Call 609-392-5494.The New Jersey Symphony Orchestra is calling U.S. TrustCompanyits corporate philanthropist of the year. U.S. Trust, a wealthmanagementcompany that is responsible for more than $3 billion in assets, hasunderwritten NJSO’s Amadeus circle for the past few years. Call609-734-7755.Top Of PageDonations PleaseWest Windsor-Plainsboro High School is seeking donations for itspost-promevent, a party to help keep students off the road and in a safeenvironmentafter the prom. Last year’s party cost over $20,000. To make atax-deductibledonation, call 609-799-4071.Next StoryCorrections or additions?This page is published by PrincetonInfo.com— the web site for U.S. 1 Newspaper in Princeton, New Jersey.
