Friday, July 15, 2016

Liberty Developing New American Water HQ In Camden, NJ

by Steve Lubetkin, Globest.com
Liberty Property Trust will develop a new corporate headquarters for American Water at One Water Street in Camden, NJ. It will be the first commercial development in Liberty’s vision for “The Camden Waterfront,” a $1-billion, 20-acre mixed-use development master planned by Robert A.M. Stern Architects.

“American Water’s decision to relocate to ‘The Camden Waterfront’ is an important step forward in helping to realize this key development for the future of Camden,” says John Gattuso, regional director and senior vice president for Liberty’s metro region. “We are delighted that American Water shares Liberty’s vision and wants to be at the forefront of this redevelopment.”

The building at One Water Street is designed by Robert A.M. Stern Architects to achieve LEED Platinum certification from the US Green Building Council. One Water Street will encompass 222,376 square feet of office space in an innovative five-story metal-and-glass building that will frame views to the river and the Philadelphia skyline. Construction of the building and adjacent parking garage is slated to begin this fall subject to the completion of Liberty’s due diligence, and acquisition of, The Camden Waterfront site. The new building is expected to be complete the second half of 2018.

“We continue to work diligently to put the additional pieces in place to establish ‘The Camden Waterfront’ as a vibrant community,” says Gattuso. “We are also working with several additional corporations in this exciting live/work/play environment.”

“I can think of no better place for the nation’s largest publicly traded water utility company to locate its headquarters than on the waterfront of a city it proudly serves,” says Susan Story, president and CEO, American Water. “Liberty’s plans for The Camden Waterfront will be transformative for the city of Camden, and as the provider of water and wastewater services to its residents, we want to be a part of this exciting development.”

American Water will be consolidating several of its leased facilities in southern New Jersey into the new corporate headquarters at One Water Street in Camden.

The announcement followed the approval of American Water’s site selection by the New Jersey Economic Development Authority during its monthly board meeting on July 14. The Camden Waterfront is getting Grow NJ tax credits that help make the project financially viable.

As previously reported by GlobeSt.com, The Camden Waterfront is a new $1 billion mixed-use development situated on 20-acres of prime waterfront property on the Delaware River. The 1.5 million square foot office development will include hotel, residential and retail components.
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