Hudson Valley Property Group Completes One Hundred Thirty Million Dollar Preservation And Renovation Of The Encore In North Camden
Hudson Valley Property Group (HVPG) has completed a $130 million preservation and renovation of The Encore, a 321-unit, 21-story affordable family housing tower at 433 North 7th Street in Camden, New Jersey. The 18-month program concluded in August 2025 and used an on-site relocation approach that allowed all residents to remain at the property throughout construction.
HVPG and its public and private partners marked the completion with a ribbon-cutting ceremony on June 4. City officials announced plans to designate the area between 7th Street and Elm Street as “Hudson Valley Way” in 2027 in recognition of the project.
“I am so excited for our North Camden neighborhood and commend Hudson Valley Property Group for committing to the City of Camden,” said Camden Mayor Victor G. Carstarphen. “The ribbon cutting for The Encore is not only a new beginning for the building, but also for its residents. I am impressed by the enhanced community spaces, amenities, and high-quality renovations. It’s a vibrant environment and the overall transformation is simply remarkable. The $130 million investment in this property will ensure an improved quality of life while preserving its long-term affordability for generations to come.”
The project included a $48 million construction scope covering comprehensive renovation of all 321 units, a reimagined façade, infrastructure upgrades, new amenity spaces, and energy-efficiency measures projected to reduce energy consumption by 28.3 percent. Unit improvements feature new kitchens with Energy Star appliances, renovated bathrooms with WaterSense fixtures, through-wall heat pumps, new flooring, and LED lighting.
New and restored common areas include a fitness center, business center, community room, energy-efficient laundry facilities, and a restored two-story penthouse for special events. Residents also receive free Citizens-funded high-speed internet access throughout units and common areas.
Security upgrades were implemented through HVPG’s Community Enhancement Program and include a sitewide high-definition monitoring system, an audiovisual intercom system, access control at all entrances, a site-specific emergency plan, and active collaboration with the Camden Police Department.
“This project exemplifies our commitment to preserving and enhancing affordable housing in the communities that need it most,” said Jason Bordainick, Co-Founder and Managing Partner of HVPG. “Strong communities are built through strong partnerships, and The Encore is proof of what those partnerships can achieve.”
Long-term affordability is secured by a new 20-year project-based Section 8 HAP contract covering 96.5 percent of units and a 30-year LIHTC compliance period limiting households to no more than 60 percent of Area Median Income. The Encore was among the first projects to use New Jersey’s Aspire tax credit program administered by the NJEDA.
Community-centered programs on site include Encore Kids!, Fresh Artists, and the Pineland Alliance Urban Farm. Financial and development partners on the project included Citizens Bank, NJEDA, NJHMFA, HUD, Enterprise Community Partners, PGIM, BlueHub Capital, and others.
“This is the first time in a long time that I felt safe. I started to feel unsafe after 30 years of living here — and you guys gave us back our security,” said Karen Merricks, a 30-year resident of The Encore.
HVPG thanked its partners for their roles in financing and delivering the renovation and preservation work that binds physical rehabilitation to long-term affordability and resident services.