N.J. AG corruption investigation focuses on George Norcross’ influence over Camden waterfront developments, sources say

N.J. AG corruption investigation focuses on George Norcross’ influence over Camden waterfront developments, sources say

The deals under scrutiny involve some of the biggest names in real estate and business in the Philadelphia region, includingIra Lubert, a prominent real estate and private-equity investor. Although officials involved in the new investigation remain reticent to acknowledge their efforts, the sources familiar with them — who spoke only on the condition of anonymity to freely discuss closely held details — said it started to quietly pick up about 18 months ago. About the same timePlatkin has tangled with George Norcross and his allies in Trenton before.

George Norcross and his partners went on to develop an apartment complex, known as 11 Cooper, with the help of state tax incentives. His spokesperson has dismissed any notion that George Norcross played a role in muscling Dranoff out, saying the negotiations “were by and between Dranoff and Liberty Property Trust.”

The Camden Redevelopment Agency ultimately sent a letter saying it was terminating Dranoff’s development option on the long-vacant Radio LoftsThe proposed Victor sale also fell through after the city did not transfer a tax agreement Dranoff had originally secured before developing the property to the potential new owners by a deadline they’d set for the deal to move forward. Dranoff says the city was obligated to approve the transfer under the terms of his original contract with the city.

In a series of complex transactions between 2016 and 2018, Liberty bought a three-acre parking lot across the street from Victor Pub, known as Parking Lot Nine, from the Delaware River Port Authority as part of a $1.3 million deal.

in its broader development, helped craft the resolutions the agency approved to terminate its interest. . The investors agreed to give up that lease if Liberty bought Lot Nine from the DRPA to provide the Norcross investor group with a substitute parking lot, the lawyer worked with Cooper Health — to gauge their interest in buying the property, according to the investors.

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George Norcross probe: Prosecutors have broadened their investigation of the N.J. power broker beyond Camden real estate dealsAuthorities have issued a subpoena to the South Jersey Transportation Authority over votes to delay payments to a contractor whose executive crossed Norcross politically, sources say.
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