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FEATURE ARTICLE, DECEMBER 2005
OFF TO THE RACES
A historic racetrack in New Jersey finds new life as a vibrant mixed-use community.
Kevin Jeselnik
Turnberry Cherry Hill LLC, a joint venture between Ventura, Florida-based Turnberry Associates and M&M Realty of Clifton, New Jersey, has commenced a major redevelopment at a former horse racetrack in Cherry Hill, New Jersey. The Garden State Park closed in 2000 after serving for decades as a destination for visitors from throughout the region. Now the developers are seeking to convert the property into a vibrant mixed-use community that will draw consumers and revitalize Cherry Hill.
Like many towns in Southern and Central New Jersey, Cherry Hill is experiencing renewed interest from developers seeking to benefit from the availability of developable land not found in the state's northern region. The recent growth is largely spurred by widespread retail development. The Southern and Central regions were for the most part under-retailed until this new surge in activity began in the last few years. A majority of the development has been planned carefully and executed to provide the previously underserved towns with successful projects that catalyze growth without creating troublesome sprawl or overcrowding.
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The 530,000-square-foot Marketplace at Garden State Park will feature a collection of regional and national retailers including The Home Depot, Wegmans, Dick's Sporting Goods and Christmas Tree Shops.
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When Turnberry Cherry Hill LLC began planning the Garden State Park redevelopment, it actively sought the involvement of the local township and its citizens to help shape the project. “We've really heard what the community has said,” says Joe Morris, a principal with M&M Realty focused on the retail portion of the project. “I think we've answered their requests.” The result is a unique mixed-use development incorporating a mix of retail, residential, office and entertainment components. The developers also worked to integrate the park's storied past into this new chapter. Garden State Park, which is located along Route 70 and Haddonfield Road, is a noted landmark within New Jersey, showing up on all state maps and numerous road signs leading into Cherry Hill.
“It's a pretty historic site,” Morris says. “That's why we kept the name Garden State Park, because it is a renowned location. It really serves the property to continue the name and the tradition.”
Several statues and other artifacts have been preserved from the property's original use and the equine theme will run throughout the community, with many streets named after famous horses and events in horse racing history.
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A rendering of the Wegmans grocery store that is under construction at the Marketplace at Garden State Park.
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The retail component will anchor the center, drawing a mix of local and regional consumers. The project will include two retail centers, Marketplace at Garden State Park and Towne Place at Garden State Park. The Marketplace, a 530,000-square-foot power center, is underway and will feature national tenants such as Wegmans, The Home Depot, Bed Bath & Beyond, Christmas Tree Shops and Dick's Sporting Goods. The Home Depot and Wegmans already have their walls up and will be complete shortly. The power center is slated to open next summer. The second phase of development is the lifestyle center, Towne Place at Garden State Park, which will break ground soon and is expected to open in 2007. The 230,000-square-foot Towne Place will integrate lifestyle retail components, national upscale restaurant chains, 70 to 100 upper-floor residential units and approximately 60,000 square feet of office space.
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The clubhouse in the lifestyle portion of the development, Towne Place at Garden State Park, which will incorporate upscale retailers, restaurants, upper-floor offices and a collection of 70 to 100 residential units within a town center atmosphere that will serve as Cherry Hill, New Jersey's new downtown.
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According the Morris, the idea behind Towne Place is to create a new gathering point for the residents of Cherry Hill. “The town really wanted to see a focal point for Cherry Hill; they wanted their own downtown,” he says.
Alongside the retail component, 10 acres of park and recreation space is being planned for public use. Preliminary plans include sports fields and an amphitheater. The particular details will be finalized through discussion with the township after much of the development is in place.
The residential component will entail three separate projects offering a varied collection of housing. Turnberry Cherry Hill LLC has selected D.R. Horton to create a 608-unit active adult community for adults aged 55 and older. The Plaza Grande at Garden State Park will be built along Haddonfield Road and Chapel Avenue, and offer a variety of condominium homes in layouts ranging from approximately 1,200 to 2,400 square feet. Prices will start at approximately $280,000 with the largest condos selling for $439,990.
For the remainder of the residential component, the developer selected Voorhees, New Jersey-based architect Feinberg & Associates to design a community that complements the “Main Street” feel of the Towne Place project and provides a seamless transition between the aesthetic elements of each part of the Garden State Park community.
Park Place at Garden State Park will incorporate 260 townhomes, each totaling approximately 3,000 square feet in size, and 120 condominiums. According to Joe McGinley of M&M Realty, who is working on multifamily components of the community, approximately 1,000 people have requested that they be put on the waiting list for the opportunity to purchase one of the homes before the sales effort even launches. McGinley says the project team plans to have a model home open this month.
Before the end of the year, the third portion of the multifamily development will be underway with the construction of Village Place at Garden State Park. The community will feature 691 luxury apartment units for rent.
While marketing the residences, the company will be located in a 4,000-square-foot sales building on site along Haddonfield Road. The future use of this building further illustrates the developers' foresight and commitment to the local community's vision of the project. Upon completion of the sales and leasing efforts, this building will be uprooted and moved to another part of the park at the community's discretion and will house a local police substation and community center.
McGinley says the project will include additional amenities that will contribute to the community's self-sufficient feel. “We are going to have our own on-site transportation system,” he explains. “We're going to get a couple of trolleys so that the homeowners association will have around-the-clock transportation available for the residents.”
So far, development of the Marketplace has gone as scheduled and the developer will begin opening retail phases of the project by next summer with the first residential phase expected to open in the fall. With the support of the community and the history of the Garden State Park behind this expansive redevelopment, the project is bringing new life to Cherry Hill and its residents.
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