M id A tlantic Real Estate Journal — Owners, Developers & Managers — Industry Leaders — December 23, 2016 - January 12, 2017 — 7B I ndustry L eaders
Construction to begin on new headquarters for American Water Works Company Liberty Property Trust commences development of “The Camden Waterfront” C
Liberty is commencing de- velopment of the $1 billion project with its focus on three initial areas: infrastructure to support the overall devel- opment, an 806-car park- ing garage, and One Water Street, the new headquarters of American Water. One Water Street has been designed by Robert A. M. Stern Architects , and will pursue LEED Platinum Core and Shell certification. The Camden Waterfront represents a unique oppor- tunity to develop a project of this scale in the center of a major metropolitan area.
the development will include a proposed 180 room Hilton Garden Inn to be developed by Ensemble Real Estate Solutions and a 188-unit residential component, for which an agreement is pend- ing with The Michaels Or- ganization . In addition, substantial investment is planned, provid- ing for the reconstruction and enhancement of the existing waterfront park, creating more than 2.5 additional acres of parkland, offering diverse opportunities for recreation, exploration, respite, and en- gagement with nature. n
AMDEN, NJ — Lib- erty Property Trust has completed the as- semblage of land and develop- ment rights for The Camden Waterfront and is beginning development of the transfor- mational mixed-use urban neighborhood immediately with construction of OneWater Street – a five story, 222,376 s/f office project that will serve as the corporate headquarters of American Water when com- plete in late 2018. “Today marks the beginning of what will become an ener- getic high performance com- munity, anchored by world- class office buildings and a spacious waterfront park eas- ily accessed by walking, bik- ing, driving and public trans- portation; one which will build upon and greatly contribute to the revitalization efforts al- ready underway in Camden,” said John Gattuso , Liberty Property Trust regional direc- tor and senior vice president, urban region. “As we shift into the development of The CamdenWaterfront, our focus shifts too, from that of a vision to that of a reality, and that is a very exciting thing.” “I am thrilled that The Cam- den Waterfront project contin- ues to move forward and this billion dollar project will soon break ground,” Mayor Dana Redd said. “This great project goes beyond just the brick and mortar development of the waterfront. Liberty Property Trust has been a great partner throughout this process by en- suring that Camden residents have an opportunity for em- ployment and local sourcing. Camden’s resurgence has been catapulted by projects such as this one, our focus on en- hancing public safety and our efforts to improve educational outcomes for our youth.” During the last fifteen months of due diligence, Liber- ty sought and received approv- als from and negotiated agree- ments with the New Jersey Economic Development Authority , the New Jersey Department of Environ- mental Protection, Cam- den County, the Camden County Municipal Utility Authority, the City of Cam- den and the Delaware River Port Authority . Liberty has also reached agreement with Dranoff Properties in con- nection with the removal of an impeding view easement restriction.
The Camden Waterfront rendering
Liberty envisions a mixed- use development that will attract corporations, employ- ment and significant inward investment. In addition to
the anticipated 1.45 million s/f of build-to-suit projects for corporations seeking to grow their businesses under the Grow New Jersey program,
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