The lot across from across the street from Camden City Hall, which is used mainly for city employee parking, will be redeveloped by the Parking Authority of Camden City.
A resolution authorizing the Camden Redevelopment Agency, which owns most of the Block 175 land, to enter into a redevelopment and purchase agreement with the parking authority was approved at Tuesday’s redevelopment agency Board of Commissioners meeting.
The agency is selling the prime real estate, along with a few other properties near downtown, for $1.2 million, a reduced price since it is one public agency selling to another public body, said redevelopment executive director Saundra Ross Johnson. The CRA parcels in Block 175 are valued at close to $4 million, according to property tax records.
The parking authority is proposing a new academic/retail/office/residential building along with parking facilities. The building could be the site of the future Rutgers nursing school, Ross Johnson said.