Big plans for Camden waterfront

Plans for a developer to build a large commercial and residential development on the Camden waterfront, including a hotel, are in the works.

The mixed-use project, being considered for an area north of the Adventure Aquarium, would involve about 400,000 square feet of retail, office, and commercial space, as well as residential buildings and the hotel, according to individuals familiar with the plans.

The state Economic Development Authority on Thursday approved a four-month extension of a financing deadline on a development agreement with Camden Town Center L.L.C., a realty company with links to Steiner & Associates. The Ohio developer owns the aquarium and has been looking to develop the area for more than a decade.

Representatives of the EDA declined to discuss the agreement, which was due to expire at the end of the month. The original development agreement dates back to 2004, according to the EDA.

The property near the aquarium has long been the focus of development efforts by Steiner, a Camden County Democratic donor and builder that holds the development rights for much of the acreage on the waterfront.

As of 2009, the company had plans to open six restaurants, dozens of stores, a hotel, 1,500 residential units, a recorded-sound museum, and at least three office buildings on the site, but environmental remediation problems and other delays stalled the project.

It was unclear Thursday whether those plans are the same as those now being considered. Steiner did not return a call for comment.

Camden County Freeholder Louis Cappelli Jr. said in a statement Thursday that the project could bring more residents to Camden and raise real estate values.

"This type of project proves that Camden is a smart investment and is ready for the next phase of its revitalization," Cappelli said. "We are experiencing a historic economic recovery in Camden City. There are currently hundreds of millions of dollars in private investments committed to Camden that will result in tens of thousands of new jobs."

The EDA also voted to extend Subaru of America's deadline to complete its new facility by one year, to December 2018. The EDA will grant Subaru $118 million in tax credits if the company moves its headquarters from Cherry Hill to Camden.