On Phase One of
Cornerstone At Lacey
FORKED RIVER, N.J., July 7, 2016 – Construction is underway on the first phase of Cornerstone at Lacey, a new 70-unit affordable rental community for families. The project, being developed by Walters Group, will fill a need for affordable housing in the township as well as give priority to Sandy-impacted residents. Work on the project began in the spring and the first building is expected to be ready for occupancy in February 2017.
Beginning on October 3, applications will be accepted at the Laurel Oaks leasing office located at 465 North Main Street, Barnegat. For 90 days after the certificate of occupancy, priority for residency will be given to qualified Sandy-impacted individuals who were displaced by or experienced major severe storm damage. Eligible applicants will be considered on a first come first serve basis.
Located off Calvin Street near Municipal Lane, phase one of Cornerstone at Lacey is being built on an 8.4-acre site. The project is designed to achieve LEED and ENERGY STAR® certification for incorporating a number of sustainable features.
“The residential project will provide a much-needed affordable housing option for families in the area,” said Ed Walters, Jr., president and founder of Walters Group. “People from all walks of life will benefit from such housing, including young families, people on fixed-incomes, and our community’s essential service workers.”
The modern two-story buildings will feature one-, two- and three-bedroom floorplans, each with individual entrances and upgraded interior finishes. Residents will have access to a large community clubhouse equipped with computer work stations and fitness center.
The second phase of the project will add another 48 units and is expected to begin after some of the buildings in the first phase are complete.
In connection with the construction of this community, over 15 acres of land will be permanently deed restricted from future development.
Walters Group is planning the development of several affordable housing projects in Ocean and Burlington Counties. Two projects for seniors (55+) are under construction in Barnegat and Toms River. The other developments will be workforce housing for families and are planned for Delanco, Jackson, and Howell.
The Walters Group is a leading residential and commercial real estate developer with offices in Barnegat and Haddonfield, N.J. Founded in 1984, the privately held company has built residential custom homes, planned communities, multi-family, affordable housing and student housing projects.
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