Interview: Anthony Mazzarelli, Co

affordability to homebuyers of varying needs coupled with a litany of municipalities suitable for a thriving family dynamic. Though not immune to rising costs of properties and construction, largely buoyed by low interest rates, an active housing market, low supply figures and supply-chain disruptions, Camden County’s affordability factor has remained resilient in the face of the real estate frenzy sweeping the nation. Considered a suburb of Philadelphia, the Camden County median single-family sales price stands at approximately $267,000 as of May 2021. That is a 27.5% increase yearover-year with a supply of inventory whittled to an average of 1.1 months, according to New Jersey Realtors®.

In a sweeping effort to improve the local housing stock, several residential redevelopment projects are happening across the county to renovate and improve neighborhoods that previously were considered a public safety concern. Leveraging federal and state dollars in the process, and armed with a $15 million state grant, the city of Camden took the lead on this front in July by knocking down approximately 300 homes to make way for new homes or open spaces. “We have some strong CDCs and nonprofit developers in Camden, and we want to help build their capacity so they can create affordable housing options within our neighborhoods,” Carstarphen told Invest:.

Razing blighted properties goes hand-in-hand with the city’s public safety improvements in an effort to turn the page on its past. In 2021, the city of Camden experienced its lowest crime rate in 50 years.

Similarly, the county announced a $35 million investment to transform the Ablett Village community in Cramer Hill, one of the county’s first public housing projects. Using Housing and Urban Development funding, the city of Camden, its housing authority and developer The Michaels Organization, envision approximately 425 new affordable homes and apartments, community amenities and attractive green spaces.

Eds and meds Guided investments in Camden County’s growing eds and meds corridors complement the county’s efforts to revitalize local neighborhoods. The Delaware Valley’s robust healthcare, life sciences and education sectors have historically been concentrated across the river in the city of Philadelphia, much to the benefit of the entire MSA. Notwithstanding, institutions such as Cooper University Health Care, Rutgers University-Camden and Lourdes Health System acquired by Virtua in 2019, have served the Camden and South Jersey communities for decades and are the cornerstones of the ongoing renaissance happening in the county. Anthony Mazzarelli

Co-CEO Cooper University Health Care

How is technology revolutionizing healthcare?

As an academic health system and teaching hospital, Cooper is committed to providing the most technologically advanced care and developing and adopting innovative technologies to make care delivery more efficient, improve safety, improve patient experience and outcomes, and reduce costs.

One example of this was the launch of The Nuance DAX system. Cooper was one of the first health systems in the nation to introduce Nuance DAX, which revolutionizes the physician-patient experience by securely capturing and contextualizing physician-patient conversations. By populating the patient’s electronic medical record through this new AI technology, our physicians spend less time at their computer screens during visits to focus more attention where it’s needed: on their patients.

What legislation could impact the sector?

President Biden signed an Executive Order promoting cost transparency and competition in different sectors of the American economy. The Executive Order makes several recommendations related to prescription drugs, hospitals and health insurance among others. One significant provision urges greater oversight over hospital mergers to ensure patients are not harmed. The Executive Order also reiterates the Administration’s support for implementing a public health insurance option. All of these recommendations could have a significant impact on health systems.

What is your near-term outlook for South Jersey’s healthcare sector?

Healthcare will continue to see dynamic change on a number of fronts from governmental policy changes to medical technologies to increased consumerism. The pandemic will continue to affect public health for the foreseeable future as there remain many unknowns related to COVID-19. There will be much more attention paid to strengthening our state’s health care system to be prepared for any new health care crises.

Over the last decade, the city of Camden has experienced an infusion of millions of redevelopment dollars that has revitalized Downtown Camden with promising momentum-building slated to benefit the overall county and South Jersey region. Created by the New Jersey Medical and Health Sciences Education Restructuring Act of 2012, the The Rowan University / Rutgers – Camden Board of Governors (RURCBOG) is tasked with guiding development and leveraging the educational and research assets to support growth across the region.

Opened in 2019, the Joint Health Sciences Center is the latest Camden-based eds and meds project to come onboard during a decade that saw hundreds of millions of guided investments on this front and the centerpiece of the Health Science Campus project. The $70 million center houses lab and training spaces for multiple universities and is a convergence point sustaining the operations of different universities, a community college and two medical schools. The center marks the completion of Phase I of RURCBOG’s long-term vision for the redevelopment of the Health Science Campus.

Located adjacent to the Walter Rand Transportation Center, Joint Health Sciences Center exemplifies the fashion in which the eds and meds sector is driving investments in the county. In 2020, the board issued a request-for-proposal for the campus’ roughly $65 million Collaborative Life Sciences Center. As part of Phase III, the new life science center will feature a health sciences library, and collaborative classroom and lab spaces for students across the partner educational institutions affiliated with the Health Science Campus project. “The Health Sciences Campus Plan also will uplift Camden, attract businesses to South Jersey and provide attractive college placement and workforce opportunities for residents, including the creation of employment and business opportunities for lowincome residents,” the board wrote on its request-forproposal documents.

Looking ahead Featuring a strong investment rating, attractive affordability factors, access to key metros along the Delaware Valley and the Northeast, Camden County has all the facets characteristic of a successful, growing region. As it prepares to emerge from the COVID landscape, Camden County is ready to capitalize on decadeslong efforts to diversify its tax base, attract and develop industries, and update its local infrastructure to meet the needs of a growing population. The eds and meds sector is expected to anchor the county’s economic development strategies moving forward.

Commercial and residential redevelopment efforts afoot position the county as one of the most attractive metros to live, work and play along the Delaware Valley. These guided redevelopment efforts coupled with a strong push to improve the region’s public safety strategies are quickly eradicating negative perceptions about the Camden market while cementing its status as the market to watch in the Garden State.

Capital Analytics would like to thank Camden County for its contributions in compiling this chapter. To learn more, visit their website at:

www.camdencounty.com

Infrastructure, Transportation

& Utilities:

Investments, including those resulting from public-private partnerships, are shoring up the region’s infrastructure framework and enhancing its transportation network. The work is expected to help ensure a rapid recovery from the pandemic.