Redevelopment Of Camden Waterfront Takes Another Step Towards Completion
By David Madden
CAMDEN, NJ (CBS) -- Planners in Camden have approved a luxury apartment complex to be built along the waterfront.
Developer Carl Dranoff transformed the old RCA building into over 300 apartments at what's now known as the Victor. Now he plans what he calls a "repeat performance," with a 4 to 5 story building housing over 150 units right across the street.
"It will be started in January of 2017 with a completion date anticipated in summer of 2018," Dranoff told KYW Newsradio.
This project is just part of a $800 million plan to open up an office park along the Camden waterfront just south of the Ben Franklin Bridge. That will include 1.5 million square feet of office space and a 150 room hotel.
"I believe that Camden and its waterfront could be among the great waterfronts in North America," he said, "similar in its success to Hoboken and Jersey City across from Manhattan."
The overall project is in line for hundreds of millions of dollars in state tax credits to make it a reality.
