The Plaza Grande at Garden State Park at 700 Citation Lane in Cherry Hill — Courtesy: JLL
By Joshua Burd
The owner of a 507-unit senior housing community in Cherry Hill has listed it for sale following its recent completion of the high-profile development project.
Brokers with JLL are marketing the luxury property, The Plaza Grande at Garden State Park, touting its success with a fast-growing demographic of renters and its proximity to Philadelphia. The complex, located at 700 Citation Lane, is also adjacent to the sprawling Market Place at Garden State Park, giving residents direct access to one of the region’s top shopping and dining destinations.
JLL’s Jose Cruz, Samantha Kupersmith, Tim Hosmer, Fran Coyne, Carl Fiebig and Tyler Margraf lead the transaction team. According to the firm’s marketing materials, the 16-building complex is currently leasing up quickly with what it described as a robust rate growth, thanks in part to its upscale design and amenities such as an 18,500-square-foot clubhouse.
The offering follows Procida Funding & Advisors’ completion of Plaza Grande last year. That concluded a development that began in 2004 under Turnberry Homes, part of the sweeping plan to repurpose the former Garden State Park racetrack, but stalled with some 250 units unfinished until Procida acquired the site through a foreclosure sale and resumed construction in 2023.
Occupying a lush 34-acre campus, Plaza Grande now has 478 market-rate and 29 affordable housing units, JLL said. Its clubhouse has amenities such as indoor and outdoor pools, tennis and pickleball courts and sauna and massage rooms, among others, while residents are a less than a mile from routes 38 and 70 and a 15-minute drive from Center City Philadelphia.
Renters flocking to 55+ property in Cherry Hill as Procida nears completion of final phase
