HVCB Opens in Princeton
Hopewell Valley Community Bank will open a new branch next month at the intersection of Route 206 and Mount Lucas Road.
The Princeton branch will be in a leased stucco building formerly occupied by Bank of America. HVC Bank board chairman Pat Ryan said the bank plans to staff the branch with people familiar with the Princeton community. The Princeton branch will be HVCB’s seventh.
Hopewell Valley Community Bank (HWDY), 4 Route 31 South, Box 999, Pennington 08534; 609-466-2900; fax, 609-730-9144. James Hyman, president and CEO. Home page: www.hvcbonline.com.
No More Retreat At St. Joe’s
With money too tight to continue funding, St. Joseph’s Seminary will close its 30-year-old retreat programs forever on Friday, May 29.
The seminary’s ruling body, the Catholic Vincentian order, will now study what the future will hold for the property, a valuable 44-acre parcel off Route 1, just behind Princeton Forrestal Village. Speculation that the property might be sold, however, are premature. According to the Rev. Aidan Rooney at St. Joseph’s, a committee has been formed to study all possibilities, including sale and reuse, but no one yet knows what will happen to the ground.
David Knights of Picus Associates on College Road East, the developer of Princeton Forrestal Village (itself a former St. Joseph’s property) and real estate consultant to Princeton University, which bought that parcel in 1984, said that no one has contacted his office with any questions about the land. Picus facilitated the Forrestal deal and has, with the university, had a longtime, amicable relationship with the seminary and the Vincentians, Knights said in a phone interview last week. If a sale was in the offing, he said, he would at least expect to know about it.
St. Joseph’s Seminary, Mapleton & Seminary Roads, Princeton 08542; 609-452-2144. Rev. Michael Carroll, president.
Exelon Still in Hunt for NRG Takeover
A federal agency has approved utility company Exelon’s proposal to buy power generator NRG Energy, a bid that NRG continues to reject as inadequate. The 4-0 vote by the Federal Energy Regulatory Commission is one of several regulatory approvals Chicago-based Exelon Corp. needs to complete the deal NRG.
Exelon proposed buying NRG last October in an all-stock deal now worth nearly $6 billion. A combined Exelon and NRG would create the nation’s largest power company, big enough to power nearly 45 million homes with 47,000 megawatts.
Exelon, the nation’s largest nuclear power company, praised the ruling, calling it a significant step toward completing the regulatory process. NRG has said regulatory approval is not as important as “Exelon’s continued refusal to offer appropriate value to NRG stockholders.”
NRG Energy Inc. (NRG), 211 Carnegie Center, Princeton 08540-6213; 609-524-4500; fax, 609-524-4501. David Crane, president and CEO. www.nrgenergy.com.
GenLed Financial Services, Box 441, Plainsboro 08536; 609-430-3007. Zahid Rupani CPA, president. Home page: www.genled.com.
Accountant Zahid Rupani appears to have left his office at Research Park. His firm, however, can be reached at its longtime post office box address.
Novovision Inc., 301 North Harrison Street, Princeton 08540; 732-329-3209; fax, 732-329-2420. Wally Soufi, product manager. www.novovision.com.
Software developer and consultant Wally Soufi has moved NovoVision from Jefferson Plaza to North Harrison Drive.
Founded in 1993 as a general healthcare consulting firm, NovoVision in 1999 began developing specialty products. Its flagship product, NovoPath is an anatomic pathology software designed to improve the handling and efficiency of medical specimens.
Weidel Commercial Realtors, 2 Route 31 South, Pennington 08534; 609-737-2077; fax, 609-730-8546. Steve Marusky CCIM, director, commercial properties. www.weidel.com.
Steve Marusky has moved the Weidel Commercial office from Main Street in Lawrenceville back to Route 31 in Pennington.