Developer announces plans for $1B Camden waterfront project

Staff Writer
Columbus CEO

CAMDEN, N.J. (AP) — A developer that has transformed the Philadelphia skyline is planning a $1 billion transformation of a 16-acre swath of the waterfront in Camden, one of the nation's most impoverished places.

Liberty Property Trust is planning 1.7 million square feet of office space, 325 units of housing, a hotel and retail space.

The company hopes to start construction by the fall of 2016 and have it completely built in 2019.

The development will benefit from state tax incentives that have already sparked a building boom in Camden.

That's one of the reasons officials believe this proposal will be built in contrast to other plans for the same stretch of land along the Delaware River.

Gov. Chris Christie was on hand Thursday for the plan's announcement.