Condo building is opened near Cooper Hospital

Several Cooper University Hospital employees will be moving into a new 25-unit condominium complex just a couple of blocks away from their employer, in Camden's Cooper Plaza neighborhood.

A ribbon-cutting ceremony was held Thursday to mark the completion of the Cooper Building, a $7 million project completed by Newark, N.J.-based M&M Development L.L.C. Thirteen units, ranging in price from $117,000 to $143,000, have been sold and are ready for move-in. Four units are being reserved for affordable housing and will be listed as low as $53,000 for qualifying families, officials said.

The New Jersey Housing and Mortgage Finance Agency provided a subsidy of $100,000 per unit and the New Jersey Economic Development Authority provided a $1.5 million grant.

Though Cooper Hospital encouraged employees to consider living at the building at 700 New St., anyone can apply. The developers broke ground on the four-story building, featuring one- and two-bedroom condos, in January 2010. Amenities include a fitness center, clubhouse, and rooftop garden. - Claudia Vargas