Procida announces Plaza Grand at Garden State Park in Cherry Hill near completion

Accelerated leasing at 15 units/month—double the national average

CHERRY HILL, NJ — After two decades of faltering ownership and development efforts, Procida Funding and & Advisors’ acquisition of The Plaza Grande at Garden State Park, a premier 55+ luxury rental community, continues to lead the market in leasing activity, and is setting a new benchmark for success in the active adult living sector just 400 days after taking possession of the property. Adding to the Procida Team’s dedication to complete the long-anticipated development, the expert leadership of the dynamic leasing team - Evangeline Gambardella, Jim Onesti, and Jamie Quinn of Keller Williams - The Plaza Grande is achieving an exceptional leasing rate, averaging 15 leases per month, representing a 100% increase over the national average. Procida is now just weeks away from delivering the final units at the property.

The accelerated leasing performance highlights the community’s unparalleled luxury offerings, prime location, and world-class lifestyle amenities, which consistently attract discerning renters seeking high-end living experiences. The leasing team’s expertise, strategic approach, and dedication to excellence have been instrumental in driving demand and maintaining an exceptional occupancy rate.

“Evangeline, Jim, and Jamie have set a new gold standard in leasing through their dedication, deep market knowledge, and client-first approach. Their commitment to excellence is the driving force behind The Plaza Grande’s continued success,” said Billy Procida, founder and CEO of Procida Funding and Advisors.

The Plaza Grande at Garden State Park features a state-of-the-art 18,500 s/f clubhouse equipped with an indoor saltwater pool, golf simulator, movie theater, social lounges, fitness center, and yoga studio. Outdoor amenities include a resort-style pool with gas grills and fire pits, bocce ball and tennis courts.

The property is located on what was previously the Garden State Park racetrack. It is located at the intersection of Haddonfield Road and Chapel Avenue. Garden State Park features a sprawling complex with a diverse range of housing options, including condominiums and rentals, along with an array of retail stores, such as Home Goods, Home Depot, Trader Joe’s, Wegman’s, TJ Maxx, Cheesecake Factory, and more. Plaza Grande marks the final phase of the billion-dollar redevelopment of the former racetrack.

With leasing momentum remaining strong, The Plaza Grande continues to solidify its position as a market leader. Prospective residents are encouraged to act quickly, as availability is in high demand.

Procida has over 40 years of experience in the real estate business. Over that time, he has won dozens of national and local awards including “NYC Developer of the Year” and National Home Builders “Pillar of the Industry Award”. He is also listed in NJBIZ’s prestigious “Power 50” in real estate list. Procida was also responsible for the recent $60 million award-winning restoration of the Philadelphia Metropolitan Opera House (now Live Nation’s “The Met”) on North Broad Street as well as the $50 million renovation of the famous Divine Lorraine Hotel also on North Broad.