Riverside Prison

TRENTON, NJ-A shuttered state prison on the Camden waterfront will eventually be sold by auction to a private developer.

The New Jersey Economic Development Authority (EDA) will sell the former Riverfront State Prison that shut its doors in 2009 to private developers. Gov. Chris Christie signed a bill earlier this month that requires the state to sell the prison and its 16 acres as state surplus property to the EDA for the sale price of $1.

The EDA will oversee the prison’s demolition, identify a buyer to redevelop the land for commercial, residential or other uses and administer the proceeds of the sale, according to NJBIZ.

State Senator Donald Norcross, who along with Assemblymen Angel Fuentes and Gilbert Wilson championed the legislation, says in a statement, “This was the last hurdle to beginning development at the former site of the Riverfront State Prison. The land is in a premium location for a variety of potential uses, each of which would bring jobs and economic opportunities to the city.” See story in NJBiz.