Hudson Valley Group plans $130M renovation of Camden affordable high-rise
”I’ve been on every floor of that building. The code violations are incredible.”
The Northgate high-rise, near the Benjamin Franklin Bridge in Camden, New Jersey is set to undergo a massive renovation, with all 321 apartments being refurbished to offer affordable housing for residents with low incomes.
The new owners, Hudson Valley Property Group, unveiled the $130 million project last week aimed at enhancing housing affordability and quality in Camden within two years, the Philadelphia Inquirer reported.
Constructed in 1963 as a luxury tower, Northgate initially offered hope for an economic resurgence in the city. However, over the years, the tower faced declining occupancy and growing maintenance issues. Recent inspections revealed numerous violations, prompting urgent action from both officials and the new ownership.
“We’ve been fighting for this for some time,” Camden Mayor Vic Carstarphen told the outlet. ”I’ve been on every floor of that building. The code violations are incredible. I know [Hudson Valley] is as passionate as I am about changing that environment.”
Hudson Valley Property Group specializes in revitalizing distressed urban rental properties, with previous successful projects such as the nearby Crestbury Apartments, now known as Community Meadows.
The firm’s co-founder and partner, Andrew Cavaluzzi, revealed plans for immediate preliminary work at Northgate, including meetings with tenants to discuss upgrades and operational changes. Renovations of individual units are slated to begin in April, with tenants temporarily relocating during plumbing stack replacements.
Cavaluzzi outlined extensive security measures, community facilities, and refurbished retail and office spaces as part of the renovation plans.
This renovation is part of a larger effort to revitalize the city, which is New Jersey’s poorest, with a 35% poverty rate. Last year Campbell Soup consolidated its office-based employees from Norwalk, Connecticut to its headquarters in Camden.
“If you look at where we’ve come from there is a demonstrable difference in the city today from 10 years ago,” the county’s Commissioner Jeffrey Nash recently said. “But we cannot become complacent and forget about the promises we’ve made to the people of Camden.”
— Ted Glanzer