September-15-2011 DCA & HMFA Celebrate Ribbon Cutting of The Cooper Building in Camden
DCA & HMFA Celebrate Ribbon Cutting of
Condominium Complex Is a First for Cooper Plaza Neighborhood
CAMDEN, N.J. – New Jersey Department of Community Affairs (DCA) Commissioner Lori Grifa today joined City of Camden Mayor Dana Redd, state elected officials, and representatives of Cooper University Hospital to celebrate the completion of The Cooper Building, a housing community in the Cooper Plaza neighborhood and revitalization area of Camden. The New Jersey Housing and Mortgage Finance Agency (HMFA), an affiliate of the Department of Community Affairs, committed approximately $7 million in permanent construction financing for the project.
"The completion of this project brings exciting progress to Camden and adds momentum to a neighborhood revitalization effort that began about three years ago. Most importantly, this project provides families with a home they can be proud of," said DCA Commissioner Lori Grifa, who is Chair of the HMFA. "I am pleased that my Department – through financing programs at the HMFA – was able to provide major financial support for this project."
The Cooper Building provides a total of 25 condominium units for individuals and families. Twenty-one of the units will be sold at market rate. Four have been set aside for low and moderate-income homebuyers. The building, which is located at 7th and New streets in Camden, includes a parking garage, fitness center, community room, rooftop garden, and closed-circuit television for security.
M & M Development LLC, a Newark-based housing construction firm that specializes in affordable housing, developed the condominium complex. The New Jersey Economic Development Authority and Camden Redevelopment Authority also contributed resources to the project.
"I am so pleased that the HMFA was able to be a part of The Cooper Building, which would not be a reality without the hard work, persistence and commitment of the development team," said HMFA Executive Director Anthony Marchetta. "Without a doubt, this project presents a better living experience for the residents of the City of Camden."
For more information on HMFA programs and mortgages, please call 1-800-NJHOUSE or 609-278-7400, or log on to www.nj-hmfa.com.