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COOPER’S CROSSING at the CAMDEN WATERFRONT

Master Plan Finalized; First Two Phases Under Development

Camden, N.J. (June 20, 2006) - Steiner + Associates, is pleased to unveil plans for Cooper’s Crossing at the Camden Waterfront. At full build-out, the 30-acre mixed-use development in between Adventure Aquarium and the Ben Franklin Bridge, will transform the Camden Waterfront into a vibrant, year-round destination to work, live and play. Cooper's Crossing will consist of 1,500 new units of market rate housing; 500,000 SF of Class A commercial office; 100,000 SF of retail, dining, and entertainment; and a hotel/conference center.

The master plan for Cooper’s Crossing builds upon the success of the existing entertainment attractions and adds a critical mass of restaurants, office space and a mix of private residences. The downtown street grid has been extended into the waterfront and connected to Camden County’s Wiggins Waterfront Promenade Park. All of the components of Cooper's Crossing have been market tested by rigorous feasibility studies along with set of very exact design standards and patterns has been established for the whole development and are consistent with the Interior Gateway from the City’s downtown.

Yaromir Steiner, CEO of Steiner + Associates said, “our team's philosophy is to create a vibrant Town Square as the core public space of Cooper Crossing that is beautiful, commercially vital, universally accessible and that will be the catalyst for the future organic growth of the area with significant additional hospitality, residential and office uses."

“We have long recognized the incredible potential of Cooper’s Crossing. For the past 3 years, we’ve worked closely with many passionate public officials to create a vibrant, year-round destination that builds upon the popular attractions that are here today. We’re thrilled that the vision we’ve developed for so long is finally being realized.”

Steiner’s first project under the first phase of development began with the $53-million renovation and expansion of the Aquarium, which re-opened to the public in May 2005 as the Adventure Aquarium.

The second major edifice currently under construction within the Cooper’s Crossing master plan is the 100,000-square-foot Ferry Terminal Building, situated on the waterfront adjacent to the Adventure Aquarium. The signature building includes three levels of office above two major lunch and dinner, year-round restaurants. At least one of these will be opened by next summer. Office tenants will include the corporate headquarters of Susquehanna Patriot Bank, who will enjoy breathtaking views of the Philadelphia skyline. The $20 million Ferry Terminal Building is the first totally privately financed office building in Camden in the last 48 years. Construction will be complete by the July of 2007 with occupancy slated for the fall.

During this first phase, Steiner has also partnered with Cooper’s Ferry Development Association and Camden County for an interactive park east of the Ferry Terminal Building that will be animated with musicians, festivals, artists, and a dynamic water fountain feature. Utilizing grant funds from Camden County through NJDEP’s Green Acres division and Steiner + Associates, Cooper’s Ferry will start construction within the next week on Cooper’s Square. Cooper’s Square will open later this fall.

Steiner has finalized the plans for the build-out of the balance of the 30-acre Cooper’s Crossing site, which will include significant residential and office buildings, as well as additional dining, entertainment and retail venues. The northern portion of the Waterfront will constitute a vibrant waterfront neighborhood with more than 1,200 residential units comprising a mix of rental and ownership properties. Three to four additional multi-story office buildings are planned east of the park, all of which will be animated at the ground level with retail, dining and entertainment uses.

Tropicana Casino and Resort loaned $2.5 million of its CRDA South Jersey Development Funds to help fund the development of the Shark Ballroom located at Cooper’s Crossing at the Camden Waterfront. Pam Popielarski, President and General Manager of Tropicana Casino and Resort is proud to be a part of the newest developments in Camden, stating, "Given the rich history of the Camden waterfront, its importance to the development of South Jersey and the opportunity for economic growth in this area, we felt that this project was a worthwhile one to invest in. We are proud to be a part of this project."

All of the enabling agreements necessary to build Cooper's Crossing are now in place, including the master development agreements with NJ Economic Development Authority and the Camden Redevelopment Agency.

Steiner is also pleased to announce a business agreement between Steiner + Associates and Dranoff Properties to develop the residential program for Cooper’s Crossing.

Thomas Corcoran, CEO of Cooper’s Ferry Development Association, which has served as the master developers for the waterfront since its creation in 1984 said, “Cooper's Crossing will be developed by a partnership of two very successful urban savvy developers who have great track records, great reputations, strong investor and banking relations, and who understand Camden and the regional market very well.”

Plans for Cooper’s Crossing at the Camden Waterfront will serve as a national model for how a public and private partnership can facilitate economic development of an industrial waterfront site. Cooper’s Crossing at Camden Waterfront would not be possible without the dedicated support of State administrations, Governor Jon Corzine, former Treasurer John McCormac, the Fifth District Legislative team of Assembly Major Leader Joe Roberts, State Senator Wayne Bryant, and Assemblywoman Nilsa Cruz Perez, Coopers Ferry Development Association, the City of Camden, the Delaware River Port Authority, Camden County, the New Jersey Economic Development Authority, the Economic Recovery Board, the Camden Parking Authority, and the Camden Redevelopment Agency.

Steiner + Associates has mastered the art of creating a Town Square to anchor a collective site of retail, residential and professional buildings. Collectively, the components of the Town Square will produce an experience beyond any other shopping, dining or site-seeing destination, bringing together diverse crowds in a sensory environment.

Honoring and Respecting Tradition

Cooper’s Crossing at the Camden Waterfront will be a landmark site named for the rich history of the area. In 1681, William Cooper, a Quaker, settled at the tip of a peninsula on the Delaware River and ran a ferry from there to Philadelphia, thus giving the future City of Camden its earliest name, “Cooper's Ferry.” New Jersey’s destination of the future will carry on tradition in name and purpose, embracing the area’s rich history.

Cooper’s Crossing will attract and delight a variety of visitors, from neighborhood residents to out-of-town tourists to Philadelphians seeking an adventure just across the river. The family friendly environment will bridge the gap for children and adults, offering entertainment to various groups. Camden Town Center LLC’s vision for an all-encompassing destination has been thoughtfully planned by the masters of cutting edge urban centers, and soon will become the pulse of Camden’s Waterfront.

To view renderings and overview of the Cooper's Crossing Project, click here.

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