New 25-unit Condominium Project Marks Important Revitalization Milestone for Camden

Residents will enjoy a sophisticated style of living which will include innovative design, energy-saving appliances, and a parking garage on the ground floor. The four-story building will offer a state-of-the-art fitness center, public space for social gatherings, and a roof garden with magnificent views of Philadelphia.
 
The Cooper Building was significantly financed through the New Jersey Housing and Mortgage Finance Agency (HMFA) “CHOICE Emerging Markets” program, designed to help revitalizing cities like Camden.

“We consider this to be a model - a mixed-income, high-quality, new construction project,” said HMFA Executive Director Marge Della Vecchia.

The Camden Economic Recovery Board, through the New Jersey Economic Development Authority, also provided significant funding.  Together, these sources provided substantial subsidy per unit, allowing the market price per unit to remain between $130,000 and $156,000.  Four affordable units were set aside for qualifying families. 

Susan Bass Levin, former Department of Community Affairs Commissioner remarked, “This building is part of an urban revitalization that will unite communities and improve the quality of life here in Camden.”