A rendering of 11 Cooper, a planned 156-unit apartment building in Camden — Courtesy: The Michaels Organization
By Joshua Burd
The joint venture behind a high-profile office tower in Camden has unveiled another piece of its waterfront redevelopment — a $48 million, 156-unit luxury apartment building.
The firms — The Michaels Organization, NFI and Conner, Strong & Buckelew — said Wednesday that they had closed on the development deal for the planned rental community. Slated to be environmentally conscious and amenity-rich, the midrise building is among the first market-rate apartment communities to be developed in Camden in years.
As such, the joint venture known as CP Residential GSGZ LLC touted it as another sign of the city’s resurgence. The building will be known as 11 Cooper and feature layouts ranging from studios to two-bedrooms, with 20 percent of the units set aside for those earning 80 percent or less of the area’s median income.
Construction is already underway, while occupancy is slated for April 2019.
“We’re excited that this residential community will offer beautiful, high-quality apartment homes to Camden’s growing workforce and will attract new families and young professionals to the exciting waterfront area,” said John J. O’Donnell, president of The Michaels Organization.
The three South Jersey-based firms announced last March that they were partnering on a $245 million, 375,000-square-foot office complex known as Camden Tower. Slated for completion next year, the campus will become the corporate headquarters for each of the partner firms and bring a combined total of more than 1,000 employees to the city.
Both Camden Tower and 11 Cooper are part of a growing waterfront district adjacent to the Ben Franklin Bridge. In a news release, the developers said 11 Cooper will incorporate the latest green technology, high-end building materials and energy efficiency.
Planned amenities include a residential lobby with 24/7 concierge services, a business center, bike storage, a fitness center and club room with an adjacent rooftop terrace, the news release said. On-site parking will accommodate more than 190 cars.
Apartments will feature high-end finishes and appliances. The firms also said 11 Cooper will offer 5,000 square feet of street-level retail space that fronts along Cooper Street.
The Michaels Organization is serving as the managing partner, developer and property manager for 11 Cooper.