A rendering of 11 Cooper in Camden — Courtesy: CP Residential
By Joshua Burd
A development group has completed a new 156-unit apartment building on the Camden waterfront, delivering the city’s first new market-rate rentals in more than a decade.
Representatives of CP Residential — a partnership of Conner Strong & Buckelew, NFI and The Michaels Organization — joined public officials on Monday to mark the opening of the building known as 11 Cooper. The building is 50 percent leased, the developers said, noting that the first residents are scheduled to move in this week.
Stakeholders hailed the $48 million project as another key step in Camden’s long-awaited revival.
“This is a tremendous milestone for the city of Camden and, most importantly, the people of Camden,” Camden County Freeholder Jeff Nash said. “The completion of this project is a symbol for the city’s transformation into a place where people want to live, work and stay.
“The economic impact to be generated by these new residents, the jobs that will be created to manage the site, and the activity in the retail spaces below, is going to drive Camden into the next phase of its transformation.”
Located a block from the Delaware River, 11 Cooper has brought Camden its new first market-rate apartments in some 15 years, but also includes 31 units that will be designated as affordable housing. Those homes are reserved for those living at or below 80 percent of the area median income, CP Residential said, noting that the overall building incorporates green technology, high-end materials and energy-efficient appliances.
The complex also includes 5,000 square feet of street-level retail space.
“Residents of 11 Cooper will enjoy waterfront living in beautifully designed, contemporary apartments, and they will be at the center of the urban renewal that is happening right now in Camden,” said John J. O’Donnell, CEO of The Michaels Organization. “Our residents will have great access to transportation, entertainment, shopping, and the employment and educational opportunities of Camden’s renowned ‘Eds and Meds’ community. We could not be prouder to be part of Camden’s revival.”
Michaels, 11 Cooper’s managing partner, also served as the developer and will remain its property manager. Torcon was the general contractor for the project, while the construction team also included JKRP Architects and Pennoni Engineers.
Additionally, the three firms behind CP Residential have moved their headquarters to a newly built office tower just steps away, known as TRIAD1828 CENTRE, which spans 375,000 square feet across 18 stories. Both projects are among several high-profile investments aimed at revitalizing Camden — with the help of the state’s embattled incentives programs — following decades of decline.
Michaels has also broken ground on other projects in the city, including Branch Village Townhomes and Cooper Plaza Townhomes, whose collective 136 units will serve families earning 60 percent or less of the area median income.
“I commend The Michaels Organization for investing in our residents and in our neighborhoods, as 11 Cooper exemplifies the inclusive prosperity that Camden is all about,” Camden Mayor Frank Moran said. “From offering beautiful high-quality spaces to providing meaningful employment opportunities for residents, 11 Cooper is helping to continue to solidify Camden as a fantastic place to live, work and play.”
Apartments at 11 Cooper include studio, one-bedroom and two-bedroom layouts. Amenities include a lobby with 24/7 concierge services, a business center, bike storage, a fitness center and club room with adjacent rooftop terrace.