An 18-story office tower is slated to become the tallest building on Camden’s waterfront, with approvals of $245 million worth of tax incentives recently approved by New Jersey’s state Economic Development Authority.
The Inquirer reports that three New Jersey companies—Conner Strong & Buckelew, NFI, and The Michaels Organization (TMO)—received approval from the Economic Development Authority at its March 14 meeting to build an 18-story tower to serve as the trio’s headquarters. The application was submitted under the Grow NJ Program, which awards tax credits to businesses that create or retain jobs in the state.
The companies first announced in early March that they had submitted their application for what they’re calling the Camden Tower. They expect to bring 869 jobs to Camden.
The office tower will be located within the same development as Liberty Property Trust’s $1 billion Camden Waterfront project. Construction has already started on the American Water Works Company’s new headquarters, a five-story, 222,376-square-foot office. It’s expected to open in 2018, while the 18-story tower anticipates an August 2019 opening.
The design of the tower also includes a piazza, which is expected to be able to host up to 1,000 people and have views of the Delaware River and Philly skyline.
The companies join a long list of other businesses and organizations that have made their way to Camden, lured by the state’s tax incentive program. The Sixers recently opened their new training facility there, and construction on Subaru’s new $118 million campus is nearing completion, too.