Liberty Property Trust announced late Monday that it
plans to immediately begin construction on the first phase of its $1 billion,
mixed-use complex on the Camden Waterfront after completing the necessary assemblage
of land and development rights.
The project will commence with work on an 806-car parking
garage space and One Water Street, a five-story, 222,376-square-foot office
building that will ultimately serve as the new headquarters for Voorhees-based
American Water when it’s completed during the second half of 2018.
“Today marks the beginning of what will become an
energetic, high-performance community, anchored by world-class office buildings
and a spacious waterfront park easily accessed by walking, biking, driving and
public transportation; one which will build upon and greatly contribute to the
revitalization efforts already underway in Camden,” said John Gattuso,
Liberty’s regional director and senior vice president. “As we shift into the
development of the Camden Waterfront, our focus shifts, too, from that of a
vision to that of a reality, and that is a very exciting thing.”
Liberty will also begin working on infrastructure to
support the later phases of the project, which call for a 180-room Hilton
Garden Inn, separate 188-residential unit component and an addition of
approximately 2.5 acres to the city’s existing waterfront park area.
In addition to recently finalizing its community
investment agreement with the city, Liberty said it has also sought and gained
approvals from the state Economic Development Authority, state Department of
Environmental Protection, Camden County, Delaware River Port Authority and the
Camden County Municipal Utility Authority.
“I am thrilled that the Camden Waterfront project
continues to move forward and this billion-dollar project will soon break
ground,” Mayor Dana Redd said. “This great project goes beyond just the
brick-and-mortar development of the waterfront. Liberty Property Trust has been
a great partner throughout this process by ensuring that Camden residents have
an opportunity for employment and local sourcing. Camden’s resurgence has been
catapulted by projects such as this one, our focus on enhancing public safety
and our efforts to improve educational outcomes for our youth.”
American Water CEO and President Susan Story said that,
while the company has already been engaged with Camden, it’s “looking forward
to being even more integrated in the community as we move our national
corporate headquarters to the waterfront.”
The New York-based firm of architect Robert A.M. Stern is
in charge of the project’s master plan.
Source: NJ
Biz
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