Regional developer, Walters announced that Cornerstone at Lacey III has reached 100% occupancy. The 70-unit income-restricted apartment community represents the third and final phase of the popular multifamily development in Ocean County, completing a residential hub that has become a vital resource for affordable living at the Jersey Shore.
With all residents now officially moved in, the project marks a significant win for housing accessibility in the region.
The community offers one- to three-bedroom apartments, each featuring individual private entrances. Designed to bridge the gap between premium living and affordability, the complex includes several high-end amenities:
- Outdoor recreation: A playground, half-court basketball, barbecue, and picnic areas.
- Support services: A staffed social services coordinator is available to residents upon request.
- Strategic location: Proximity to the Garden State Parkway, Lacey Township District schools, local supermarkets, and medical facilities.
“It’s rewarding to see residents settling into these beautiful new high-quality, affordable homes,” Joe Del Duca, partner and director of Affordable Housing for Walters said. “Expanding access to affordable housing is essential, especially for those who want to live at the Jersey Shore but might otherwise be priced out.”
In line with Walters’ commitment to green building, Cornerstone at Lacey III is designed to meet LEED® and ENERGY STAR® certification standards. According to the developer, these certifications ensure that the homes are not only environmentally friendly but also provide a healthier living environment through superior air quality and lower monthly utility costs for residents.
The apartments are specifically reserved for residents who earn 60 percent or less of the area’s median income. Rental rates are calculated based on the tenant’s gross annual income, ensuring that the community remains sustainable for working individuals and families in Ocean County.
Walters, which manages the entire lifecycle of its properties—from design and construction to day-to-day property management—continues to be a major player in the New Jersey affordable housing market.
