Liberty Property Trust Pitches In $1B For Camden Transformation

Another Chester County developer is envisioning a spectacular view of the a city skyline — a $1 billion showcase of architectural ingenuity and diversity in what is destined to become a highly sought-after neighborhood. But it’s on the other side of the Delaware.

Liberty Property Trust just announced its master plan for 16 acres on the Delaware River waterfront in Camden, N.J.: “a mixed-use community that involves constructing up to 1.7 million square feet of office space in four to five buildings, four parking garages, a hotel with 120 to 140 rooms and 325 apartments,” the Philadelphia Business Journal reported. If completed, it will be the largest private investment in Camden’s history.

“The more we looked at this, we knew we needed a project of scale, and we came to the conclusion we could create a real sense of place, a whole new neighborhood or piece of downtown Camden,” Senior Vice President John Gattuso said in the article.

The Malvern developer joins Radnor-based Brandywine Realty Trust in reimagining the resurgent community. Brandywine is at the helm of a 13-acre project crafting Camden’s new gateway on former Campbell Soup Co. land.

Liberty’s endeavor looks to be a five-year project starting next year that leverages the youthful return of residents and employees to urban centers as well as significant financial incentives through the Grow New Jersey Assistance Program.

“What has been lacking in Camden is momentum and a committed developer to oversee that,” Gattuso said. “It starts with the vision and what would success look like. Success for Camden is having an individual call their spouse to have dinner along the river overlooking the Philadelphia skyline. That would happen because you would have done something there. You would have created an ambiance and created market demand for a nice restaurant.”

Read more about Liberty Property Trust’s $1 billion plans for the Camden waterfront in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of the local developer’s other big projects here.