Renaissance Economic Development Corporation 1 (REDC) is a 501(c)(3) not-for-profit (public charity) that was founded in 1997. It was created for the purpose of bringing together as partners, two different communities that pledged to achieve the common goal of expanding neighborhood employment and resident self-sufficiency through increased senior and affordable housing; commercial and retail development; greater access to health services; employment training and job opportunities.

In an important first step in the implementation of this purpose, First Baptist Community Development Corporation, the founding institution of REDC, received funding from the Federal Government to assist Franklin Township in creating a Redevelopment Agency and adopting a redevelopment plan for the area in which it is located. It was out of this activity that REDC was formed.

Working with the First Baptist Development Corporation and other partners, REDC has been instrumental in the development of new residential units in the project area. At its location at 123 How Lane, REDC is landlord to St. Peter's Pediatrics and Primary Care Facility, Red Cross, a 24 hour Child Protection Agency and other nonprofit organizations. At 630 Franklin Boulevard REDC is landlord to a Raritan Valley Community College campus at Franklin Township, Harvest of Hope Foster Care Program administrative offices, other nonprofit organization and for-profit companies. It provides computer and Internet access to the community and conducts an after-school tutoring program.