BRICK, NJ- Procida Funding, LLC's The 100 Mile Fund has provide a $12.3 million infrastructure/construction loan for The Shoppes & Residences at New Visions here.

The project consists of two separate developments--a mixed-use project that will consist of 21,109 square feet of retail space and 44 rental units made up of 30 two-bedrooms and 14 one-bedroom apartments. The second parcel will consist of 170 townhomes, according to Procida officials.

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, while Jerald Development will construct the rental and retail sites.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.