Daily News | A Camden high-rise is known for ‘decrepit’ conditions. Will a new owner do better?
is proposing to transform the troubled high-rise that hundreds of tenants rely upon for affordable housing.privately owned, 21-story, 321-unit landmark and expects to spend as much as $40 million to fully renovate it. On Tuesday City Council unanimously approved a tax exemption the company had described as necessary for the project.last March and April related to plumbing, ventilation, mold, and the condition of some balconies. A re-inspection on Aug.
Said city business administrator Tim Cunningham: “The expectation of the city is that the existing owner of Northgate, who has been cited for numerous violations of housing, building, and fire codes, will cure those violations.”Northgate is owned by Camden 7 Realty, a limited liability corporation with an address in Short Hills, N.J.
Camden also seeks “the preservation of affordable housing, and perhaps most important, an improved quality of life for the residents” of Northgate, he said.. She said residents are anxious about the potential sale.
The original developers sold the property in 1987, and under a succession of owners since, Northgate 1 has evolved into a rent-subsidized building where many tenants are families with young children. The annual proceeds from rents is estimated at $5.
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