Deadline Extended as EDA Seeks Purchasers to Develop Most Valuable Real Estate in North Camden

TRENTON (March 10, 2017) – (RealEstateRama) — The New Jersey Economic Development Authority (EDA) announced today it has extended the deadline for a Request for Qualifications (RFQ) related to the purchase and development of an 8.75-acre site on the Camden Waterfront. Eligible respondents must now submit qualifications by 2 p.m. on April 12, 2017. The RFQ, 2016-RED-RFQ-DEV-061, can be found on the EDA’s website at www.njeda.com/bidding.

Boasting views of the Philadelphia skyline and approximately 8.75 acres of prime developable land, the site also will benefit from a newly established public park and roadway improvements. The site’s location in the City of Camden also presents an opportunity for developers to take advantage of the highest amount of incentives, as well as property tax abatements, available through the New Jersey Economic Opportunity Act of 2013.

The sale is governed by P.L. 2013 c. 22, as well as the New Jersey State House Commission-approved procedures for the disposition of property. This includes a two-step RFQ/Sealed Bid process:

Step 1 –EDA will accept qualifications through April 12, 2017 at 2 p.m. Based on the criteria outlined in the RFQ, the EDA will establish a shortlist of eligible respondents.
Step 2 – EDA will issue a bid package to eligible respondents and accept sealed bids.

If necessary, the EDA will issue and accept best and final offers. The final sale and development will be subject to various approvals, including the Review Committee designated for this purpose, the New Jersey Department of the Treasury, the EDA Board, and the State House Commission.

The sale and development of the property must also be consistent with the North Camden Waterfront Study Area Redevelopment Plan. The Plan’s vision is to create a vibrant, mixed-use district that provides new opportunities for riverfront recreation and attracts sustainable development while connecting existing residential neighborhoods to the waterfront.

The former prison site accounts for roughly one third of the North Camden Waterfront Study Area. In 2006, the Delaware River Port Authority Commissioned the Riverfront State Prison Reuse Study to analyze the reuse potential of the North Camden Riverfront. In 2010, demolition of the prison was completed, paving the way for future redevelopment.

Qualifications must be received by 2 p.m. on April 12, 2017 in a securely SEALED envelope or carton. Qualifications should be shipped or delivered to:

New Jersey Economic Development Authority
Real Estate Division
REF # 2016-RED-RFQ-DEV-061
Due Date: April 12, 2017 at 2 p.m.
36 West State Street
Trenton, NJ 08625-0990

Submissions will be publicly opened on April 12, 2017 at the 36 West State Street location at 2 p.m.

The question and answer period related to the RFQ has also been extended until March 15, 2017. For a complete list of qualification submission requirements and other information pertinent to this RFQ, visit http://www.njeda.com/bidding.