Camden`s New $1 Billion Redevelopment

State and local officials made an official announcement about plans to pump $1 billion into Camden, N.J.

The Cramer Hill neighborhood will be located near the Pennsauken, Pa., border and along the Delaware River.

The 10-year project will build new housing, retail space, develop open space and construct a new access bridge from the Admiral Wilson Boulevard.

Plans also call for building an 18-hole golf course on the site of the abandoned Harrison landfill.

New Jersey Gov. James McGreevey said the project will mean a major turn-around for Camden.

"So it's turning the city of Camden from a city of dependency to a city of self-sufficiency -- to a city of job creation. This is an unprecedented amount of job opportunities," McGreevey said.

McGreevey said the project will create more than 5,000 construction jobs and more than 1,500 permanent jobs in Camden.

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