Draft:Camden Waterfront revitalization
 | This article contains wording that promotes the subject in a subjective manner without imparting real information. (November 2024) |
In September 2015, the Philadelphia-based real estate investment trust Liberty Property Trust announced its plans for a $1 billion project to revitalize Camden's Waterfront.
History and description
[edit]The project plans to not only improve the infrastructure currently in place, but also to construct new buildings altogether, such as the new headquarters for American Water, which is a five-story, 222,376-square-foot office building.[1] American Water's new headquarters on the Camden Waterfront was opened in December 2018.[2]
Other construction projects in the Liberty Property Trust $1 billion project include a Hilton Garden Inn to be opened on the Camden Waterfront in 2020, which will contain 180 rooms, a restaurant, and space for conferences to be held. The Camden Tower, an 18-story, 394,164-square-foot office building which will be the headquarters for the New Jersey–based companies Conner Strong & Buckelew, NFI and The Michaels Organization, which is planned to finish construction in spring of 2019. Also included are apartments on 11 Cooper Street, which will be housing 156 units as well as a retail space on the ground level. The construction of these apartments is planned to be completed by the spring of 2019.[3]
In October 2018, Liberty Property Trust announced that they would be leaving the billion dollar project behind, and selling it to anyone who is interested, as a "strategic shift." They still plan on finishing buildings in which construction has already made significant progress, such as the Camden Tower, and the Hilton Garden Inn; however, they do not wish to start any new building projects on office buildings. They have stated that they wish to focus more on industrial space projects, rather than those of office spaces. However, Liberty Property Trust is still looking to develop four parcels of land along the Delaware river that is able to hold 500,000 square feet (46,000 m2) of land to be used for office space.[4] One such company that has made plans to take advantage of this is Elwyn, a nonprofit that assists those living with disabilities based in Delaware. In February 2019 Elwyn received approval for assistance from New Jersey's Grow NJ economic development program that will help in covering the costs of the building. This office building would be built along the Delaware river, on one of the parcels owned previously owned by Liberty Property Trust, next to the currently under construction Camden Tower.[5]
References
[edit]- ^ Adomaitis, Greg (December 10, 2016). "New details about Camden's $1B waterfront redevelopment revealed". The Star-Ledger. Retrieved April 15, 2019.
- ^ "On the Waterfront: American Water opens Camden headquarters". Courier-Post. Retrieved April 15, 2019.
- ^ "9 Major Camden Development Projects To Watch in 2019". TAPinto. Retrieved April 15, 2019.
- ^ "Camden Waterfront developer selling its office projects". Courier-Post. Retrieved April 29, 2019.
- ^ Adelman, Jacob (February 22, 2019). "Care provider Elwyn eyes new office building on Camden waterfront for regional consolidation". Philadelphia Daily News.