Two Camden nonprofits, Heart of Camden and Parkside Business & Community in Partnership, have received a combined $950,000 through the Neighborhood Revitalization Tax Credit Program, New Jersey American Water and the New Jersey Department of Community Affairs announced.
Parkside Business & Community in Partnership, known as PBCIP, received $800,000. Founded 30 years ago and led by Parkside residents, the community development corporation works to revitalize the Parkside neighborhood through commercial development, affordable housing and quality-of-life programs.
“We are profoundly grateful to both New Jersey American Water and the New Jersey Department of Community Affairs for their confidence in our work and their shared commitment to advancing equitable outcomes,” PBCIP CEO Bridget Phifer said. “This investment will accelerate key initiatives, expand our reach, and position PBCIP to deliver even greater impact across the Parkside community and city of Camden.”
The funding builds on New Jersey American Water’s long-standing support of Parkside revitalization efforts. Since 2020, the company has invested more than $2.3 million through the tax credit program to support PBCIP’s work advancing affordable housing, commercial revitalization and economic opportunity, including the Hardy Homes townhome development, which is expanding homeownership opportunities in the neighborhood.
Heart of Camden received $150,000. For more than four decades, the nonprofit has worked to enhance quality of life in the Waterfront South neighborhood through housing restoration, economic expansion and community development programs.
“We are deeply grateful to New Jersey American Water and the Neighborhood Revitalization Tax Credit Program for recognizing the potential of Waterfront South and investing in its future,” Heart of Camden Executive Director Carlos Morales said. “For more than four decades, Heart of Camden has worked alongside residents to strengthen the neighborhood through affordable housing, family support, arts and culture, and community development. This investment helps us continue building forward while ensuring that residents remain at the center of that progress.”
The funding supports continued progress in Waterfront South, including the redevelopment of the historic Olsen Building at 1811 Broadway and a planned neighborhood grocery market at 526 Ferry Avenue. Both are part of Heart of Camden’s broader Broadway Gateway initiative, which will create new arts, retail and community spaces while preserving a historic neighborhood landmark. Since 2022, New Jersey American Water has provided more than $600,000 in tax credit funding to support Heart of Camden’s Waterfront South revitalization efforts.
The latest awards build on approximately $13.4 million that New Jersey American Water has directed through the Neighborhood Revitalization Tax Credit Program since 2010 to support community initiatives statewide, including roughly $11.5 million for projects in Camden. New Jersey American Water has provided water service in East Camden for more than 130 years, while American Water Contract Services has operated the rest of the city’s water system and its entire wastewater system since 2016.
“Camden is home to New Jersey American Water, and we are proud to recognize two outstanding organizations making a difference in our backyard,” NJAW President Mark McDonough said. “PBCIP and Heart of Camden have long track records of delivering for their communities, and we are honored to support their critical work.”
The Neighborhood Revitalization Tax Credit Program, administered by the New Jersey Department of Community Affairs, allows businesses to apply state tax credits toward investments in nonprofit organizations leading neighborhood revitalization efforts guided by resident-driven, DCA-approved plans.
