Building on a Strong Track Record
LAEDA has been responsible for the redevelopment of more than 75,000 square feet of retail and office space in downtown Camden and East Camden. Each project completed has demonstrated the success of each facet of the NCEI strategy. Below are three projects completed by LAEDA over the past 23 years.
423 Market Street
Now home to the South Jersey Federal Credit Union, 423 Market Street was LAEDA's first redevelopment project. The project was undertaken to redevelop the building for use as LAEDA's headquarters and training center as well as to house the Camden Community Credit Union, an enterprise of LAEDA. 423 Market Street now adds to the limited inventory of reasonably priced office space in center city.
2508 Federal Street
The second project involved the rehabilitation of 8,000 square feet of blighted commercial space in the Federal Street commercial district in 1993. The rehabilitated structure that was once vacant and deteriorating initially housed three new businesses, one of which was owned and operated by an EDTP graduate. Where no jobs existed at this location, now there are three successful businesses operating and maintaining 8 jobs for local residents.
433 Market Street
The third project was the rehabilitation of an 18,000 square foot historic office building in downtown Camden and was completed in 1999. The total project cost was $1.3 million and created 6 office suites, 1 banking facility and 1 retail space. The building houses a Bank of America branch office, an Avon Training Center and several commercial tenants. 433 Market Street is now home to LAEDA's administrative offices.
129 North Broadway
First Camden National Bank & Trust Company Building
Acquired by LAEDA in January 1998 and completed in 2001, the First Camden National Bank & Trust Building was by far LAEDA's most ambitious project. This project encompassed the redevelopment of a 50,000 square foot bank and office building at a cost of $3 million. Through a creative reuse of the drive through lanes in the rear of the building, LAEDA was able to introduce six new store fronts into the downtown commercial real estate inventory. Each has been occupied continuously since 2003. An EDTP graduate's business occupies one of these storefronts to this day. In November 2003, the property was sold and in 2009 the building was purchased by Rowan University.