$48M apartment property coming to Camden waterfront

CP Residential is bringing 156 rental apartments to the Camden waterfront, it announced Wednesday, as part of a $48 million development deal.

CP Residential said the midrise building will include some of the first market-rate apartments to be developed in Camden in years. The firm’s partners The Michaels Organization; Conner Strong & Buckelew; and NFI, are also working on The Camden Tower office development on the waterfront.

“We’re excited that this residential community will offer beautiful, high-quality apartment homes to Camden’s growing workforce, and will attract new families and young professionals to the exciting waterfront area,” The Michaels Organization President John J. O’Donnell said in a prepared statement.

O’Donnell’s group is serving as managing partner, developer and property manager for the project.

The apartment building, to be called 11 Cooper, will include a mix of studios, one- and two-bedroom apartments. Twenty percent of the 156 apartments will be designated as affordable housing.

Construction is underway on the project, with leasing expected to begin in March and first occupancy planned for April 2019.