Insurance brokerage firm Conner Strong & Buckelew, which is led by South Jersey power broker George E. Norcross III, has applied for millions in state tax credits in order to move from Marlton to the Camden waterfront, along with the Michaels Organization and NFI, two other South Jersey corporations.
The three companies are collectively requesting $245 million in tax incentives to build an 18-story office tower, along with an outdoor piazza overlooking the Delaware River and Philadelphia skyline across the water. The piazza would have space to hold up to 1,000 people, according to a news release from the firms.
The state Economic Development Authority will determine whether to approve the plans at its regular meeting next week.
The proposal has been in the works for more than a year. In September 2015, when developer Liberty Property Trust announced plans to transform the city’s waterfront into a corridor of offices, shops, a hotel, housing, restaurants and walkways, Norcross indicated that he would move his firm there. The Michaels Organization, a Cherry Hill-based housing developer that has done work in Camden, and Marlton-based supply firm NFI both said they would also join the project.
The firms bought the Ferry Terminal Building on the waterfront last year and may invest additional millions in building apartments and a hotel there, according to the joint news release.
“We are incredibly excited about the future of Camden and about the future of our organization being headquartered there,” Michaels Organization president John J. O’Donnell said in the statement. “This move will enable us to offer our growing workforce a world-class, state-of-the art headquarters location in a city that is once again poised for greatness.”