(Camden, NJ) –Camden County Freeholder Jeff Nash joined Camden community members and officials today to celebrate the grand opening of 11 Cooper, a $48 million mixed-use building offering the first market-rate apartments in Camden in 15 years.
While the complex is primarily comprised of market rate units, 31 of the 156 new rental homes will be designated as affordable housing for those living at or below 80% of the Area Median Income. All units will be housed in an environmentally conscious, amenity-rich mid-rise building, with about 50 percent of the building’s apartments already leased and the first residents scheduled to move in this week. Additionally, the complex will house 5,000 square feet of retail space at the street level.
“This is a tremendous milestone for the City of Camden and, most importantly, the people of Camden. The completion of this project is a symbol for the City’s transformation into a place where people want to live, work, and stay,” Nash said. “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.”
11 Cooper is owned by CP Residential, a partnership between Conner Strong & Buckelew, NFI, and The Michaels Organization, with Michaels also serving as developer and property manager. The CP Residential team also included Torcon as general contractor, JKRP Architects, and Pennoni Engineers. Michaels is currently in the process of hiring on-site staff for the building, and so far, six of the eight employees it has hired are Camden residents.
“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, 11 Cooper’s managing partner. “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.”
11 Cooper is just one of several recent housing investments by The Michaels Organization in Camden. The company recently broke ground for additional affordable housing options at Branch Village Townhomes and Cooper Plaza Townhomes, where their collective 136 units will remain 100 percent affordable, serving 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,” said Camden Mayor Frank Moran. “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.”
11 Cooper’s 156 apartments include a mix of studios and one- and two-bedroom layouts, located in the heart of the city’s booming waterfront district adjacent to The Ben Franklin Bridge. The building incorporates the latest green technology, high-end building materials and energy-efficient appliances. Amenities include a residential lobby with 24/7 concierge services, a business center, bike storage, a fitness center, and club room with adjacent roof-top terrace. Art by local artists will be featured in all of the building’s common areas, and on-site parking will accommodate more than 190 cars. The spacious apartments feature stainless steel appliances, quartz countertops, and spa-inspired bathrooms, with each residence having its own in-unit washer and dryer. In addition, 11 Cooper will offer 5,000 square feet of street-level retail space, fronting Cooper Street.