Englewood Cliffs based-The 100 Mile Fund provided a $12,300,000 construction loan to the project known as The Shoppes & Residences at New Visions in Brick Township, NJ.
The project consists of two separate developments; a mixed-use project which will consist of 21,109 s/f of retail space and 44 rental units, and a second parcel which will consist of 170 townhomes.
This is the second project on the Jersey Shore that The 100 Mile Fund has undertaken with Jerald Development. The town homes will be built and sold by Ryan Homes, one of the largest homebuilders in America, while Jerald Development will construct property.
This site is centrally located in Brick Township and is in close proximity to most major retailers, the Garden State Parkway and the area beaches.