Project Overview: Ferry Avenue Transit-Oriented Development
Client: Urban Development Partners
Location: 1709 and 1775 White Horse Pike Rd, Camden, NJ
Property Type: Transit-Oriented Mixed-Use Development
Project Status: Planning and Development Stage
Project Timeline: [To be determined]
Project Summary:
Urban Development Partners are spearheading a transformative transit-oriented development (TOD) at the Ferry Avenue Train Station in Camden, New Jersey. This development capitalizes on the site's strategic location as the second stop on the PATCO Speedline out of Philadelphia, positioning it as a key driver for urban renewal in the Whitman Park area of Camden. The project is designed to meet the growing demand for residential and commercial spaces that are well-connected to public transit, offering modern amenities and fostering community engagement.
Project Features:
Residential Development: The project envisions up to 400 residential units, with options for both affordable and market-rate housing. The development plan allows for a mix of multi-family dwellings and commercial-residential mixed-use buildings, with heights ranging from 5 to 10 stories, making it one of the most significant residential projects in Camden.
Commercial Spaces: The development will include ground-floor commercial spaces aimed at attracting retail outlets, office spaces, and community services that cater to the needs of both residents and the broader community. The inclusion of convenience stores, professional offices, and personal services will enhance the neighborhood's livability.
Transit Connectivity: Situated adjacent to the Ferry Avenue Train Station, this development offers unparalleled access to public transit, making it an ideal location for commuters. The proximity to the PATCO Speedline ensures quick and easy connections to Philadelphia and other key locations, reinforcing Camden's appeal as a residential hub.
Zoning and Planning: The site has been identified as an area in need of redevelopment, and a comprehensive redevelopment plan has been approved. This plan includes provisions for infrastructure finance, NJ State Benefit grants, and Payment in Lieu of Taxes (PILOT) agreements, making the project financially viable and attractive to investors.
Environmental Considerations: The project includes a phased approach to environmental remediation, with responsibilities divided between pre- and post-closing obligations. This ensures that all necessary environmental assessments and remediation activities are completed in compliance with NJDEP regulations, safeguarding the long-term sustainability of the development.
Strategic Importance:
This TOD project at Ferry Avenue is a critical component of Camden's broader strategy to stimulate economic growth and urban revitalization. By integrating residential, commercial, and community spaces within a transit-oriented framework, the development is poised to attract new residents, businesses, and investment to the area. The project's alignment with Camden's urban renewal objectives makes it a model for future developments in the region.
Partnership and Future Vision:
Urban Development Partners are committed to creating a vibrant, sustainable community that reflects the needs and aspirations of Camden's residents. The project is designed to foster long-term growth and community engagement, with a focus on creating spaces that are both livable and connected. The successful implementation of this development will set a new standard for transit-oriented projects in Camden and beyond.
Conclusion:
The Ferry Avenue Transit-Oriented Development is more than just a real estate project; it is a cornerstone of Camden's future. With its strategic location, comprehensive planning, and focus on community impact, this development is set to transform the Whitman Park area and contribute significantly to Camden's ongoing revitalization efforts. The project's success will serve as a catalyst for further investment and development in the region, ensuring Camden's place as a thriving urban center.