The New Jersey Economic Development Authority has for a
second time extended the deadline for developers to express interest in the
former Riverfront State Prison, a parcel that some have called the “most
valuable piece of real estate in North Camden.”
The EDA began in November 2016 to seek out developers for
the nearly 9-acre tract that fronts the Delaware River through an open bid
process that asked them to submit their qualifications as a first step in a
process to develop the property.
The property fronts the Delaware River and has views of
Philadelphia.
It had initially set a March 1 deadline for those
qualifications to be submitted but decided, before that deadline was reached,
to extend it to April 12. It has now extended it again and set a new date of
May 24 for developers to submit qualifications.
The EDA said in a statement that this time there was an
“uptick in questions” about the process and, as a result, an extension was
“warranted.” It didn’t disclose whether any one had participated and submitted
their qualifications to indicate they are interested in the site that sits just
north of the Benjamin Franklin Bridge.
There is a groundswell of development activity taking
place south of the bridge and elsewhere in Camden with developers such as
Liberty Property Trust and Brandywine Realty Trust embarking on a billion
dollar mixed-use projects.
Why developers appear disinterested at this point in the
former prison site is unknown.
Source: Philadelphia
Business Journal
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