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New Project Could be Game Changer for Camden Waterfront

On March 29, 2016

Camden WaterfrontLiberty Property Trust is planning a dramatic new development on the Camden waterfront, right across the Delaware River from Society Hill and Old City in Philadelphia. This new development will redevelop a 26-acre stretch of the waterfront, which is now just parking lots in between Campbell’s Field and the Adventure Aquarium. It is part of a master plan recently approved by the New Jersey Economic Development Authority.

The development will consist of two office towers and several mid-rise buildings. The complex is being designed by Robert A.M. Stern Architects, the designers of Comcast Center and Ten Rittenhouse. They have designed an oddly shaped tower meant to cast a wistful reflection on the water and a sleek glass tower next to Campbell’s Field. It will have 1.5 million square feet of commercial space, most of it office space with some retail. It, also, includes 211 residential units, in a multifamily building, and a 130 room hotel.

The master plan includes extending streets from downtown, including Cooper Street which would have trees down the middle, and two new streets running north to south. A shuttle bus will connect to the Walter Rand Transportation Center, where the PATCO Lindenwold line connects to Center City and the River Line connects to Trenton and towns imbetween. The master plan includes a new ferry stop on a pier that would connect to Penn’s Landing. A new park is planned along the river’s edge, created in part by new land formed from adding soil to extend the waterfront. There would, also, be about 4,000 parking spaces.

This new development could have a major impact on Camden city and county, but could also have a major impact on Center City, particularly neighborhoods along the waterfront. New Jersey state officials and Liberty Property are anticipating 4,000 new permanent jobs in the complex when it is completely built out, which clearly could affect employment and real estate demand in nearby Center City neighborhoods, and even neighborhoods in North and South Philadelphia. There would still be several parking lots next to this development owned by developer Carl Dranoff, which he intends to build with new housing, retail, and office space as well. This development by Liberty Property Trust would help increase demand for that planned new development, and its housing, greatly. Liberty Property plans to begin construction of the complex later this year, now that they have approval from state and city officials.

By, Gabriel Gottlieb

The Condo Shop
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