By Mike DeNardo

CAMDEN, N.J. (CBS) – Preliminary plans for a huge commercial and retail complex are on the drawing board once again for Camden’s Waterfront.

It could transform the Camden Waterfront, but it’s a big ‘if’, because talk of a project like this has been going on for a decade.

The preliminary proposal calls for 400,000 square feet of commercial space, 1,600 homes and a hotel. The location is just north of the Adventure Aquarium, where the terminal for the long-abandoned tram across the Delaware River would have been.

The New Jersey Economic Development Authority Thursday extended a deadline, giving the developer and the landowner four more months to come to an agreement.

Camden County Freeholder Director Lou Cappelli in a statement said this type of project proves that Camden is ready for the next phase of its revitalization.