The state would like to see the redevelopment plans stretch to the prison site north of the Ben Franklin Bridge.
CAMDEN -- There is no shortage of plans and projects to redevelop the city's waterfront between BB&T Pavilion to the Ben Franklin Bridge. They include a new headquarters for American Water, a possible hotel and apartment building, and recently-announced plans for an 18-story office building called "Camden Tower."
But just upstream from the potential Camden Tower site, north of the vacant Campbell's Field and the bridge, is a large site that has nothing on it.
It used to hold Camden's Riverfront State Prison, and state and local officials are hoping it will one day be home to some kind of mixed-use development that can take advantage of the big footprint and the views of the Philadelphia skyline.
The New Jersey Economic Development Authority calls it the most valuable real estate in North Camden, and they're trying to find the right developer to buy it.
So far, they haven't gotten any nibbles, said Tim Lizura, EDA president and chief operating officer. But, he said, that may because the EDA has extended the deadline to April 12 for developers to submit their qualifications for the job.
"With all of the exciting news going on in Camden, it's garnering new levels of attention and we could reach a larger market," Lizura said Monday.
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The site is a blank canvas, he said, which the EDA is improving first with 4 1/2 acres of public park, green space and infrastructure. What's left are 8.75 acres that could hold a mix of retail, office, apartments, condominiums and more, he said.
In a press release, the EDA said officials are hoping for a "vibrant, mixed-use district that provides new opportunities for riverfront recreation and attracts sustainable development while connecting existing residential neighborhoods to the waterfront."
Waterfront Renaissance Associates did a study in 2013 about building a Greater Philadelphia World Trade Center on the former prison site, but nothing ever came of it. While the site could lend itself to luxury apartments, Lizura said the state would hope for a variety of price points in any residential building. In keeping with the look of North Camden, it would likely be a mid-rise building or buildings of between four and eight stories.
So why would someone want to build such a development in Camden? Besides getting in on the ground floor of the city's revitalization, Lizura said the developer would be qualifying for state incentives for developing Camden, including property tax abatements enacted under the New Jersey Economic Opportunity Act of 2013.
The property tax reduction program could get the developer a deal for no tax adjustments for 10 years, followed by another 10 years of only 10 percent increases.
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If they bring jobs to the city, they could be eligible for tax credits under the Grow NJ program.
The developers for Camden Tower -- NFI, The Michaels Organization and Conner Strong & Buckelew, George Norcross insurance brokerage -- sought tax credits for the $245 million Camden Tower with the promise of bringing 869 jobs to the waterfront. The EDA approved the tax credits Thursday.
What's next
The former prison site makes up about one-third of the area considered under the city's North Camden Waterfront Study Area Redevelopment Plan.
The state and the Delaware River Port Authority paid to demolish the 24-year-old prison in 2009. The state sold it to the EDA in 2012 for $1, with the understanding that the EDA would resell it and the proceeds, after costs and fees, would go to the state and DRPA.
One developer that initially expressed interest was Waterfront Renaissance Associates, who studied whether to build the conceptual Greater Philadelphia World Trade Center on the property.
Now, Lizura said, the EDA is seeking the right developer for the project, because they don't want a novice or a financially-shaky company taking on such an important piece of property.
After the April 12 deadline, the authority will establish a list of eligible respondents and ask them to submit bids and specifications for their projects ideas.
The winning bid will have to be consistent with the plans laid out in the North Camden Waterfront Study Area Redevelopment Plan. The sale of the land will also have to be approved by government bodies including the New Jersey Department of the Treasury and the State House Commission.
Information on the qualifications and how to submit an application are at www.njeda.com/bidding.
Rebecca Everett may be reached at reverett@njadvancemedia.com. Follow her on Twitter @rebeccajeverett. Find NJ.com on Facebook.