Walters is a diversified residential and commercial developer committed to the highest construction standards and environmentally responsible building practices. The privately-held company builds income-restricted and market-rate housing, premium custom homes, retail centers and office buildings. Active throughout New Jersey, Walters is powered by a talented team of development, property management, construction, real estate brokerage and architectural professionals with the skills and expertise required to handle the most complex suburban developments from concept to completion. More information is available online at www.waltersgroupapartments.com.
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[toggle title=”Fact Sheet”]
Walters Fact Sheet: 2020
500 Barnegat Boulevard North, Building 100,
Barnegat, New Jersey 08005
Media Contact: Emma Ackel: firstname.lastname@example.org; (201) 796-7788
Walters is a multi-disciplined residential and commercial real estate organization with core competencies in the areas of land planning, acquisitions, development, construction, marketing, management, and environmental remediation. Walters is focused on bringing difficult projects to fruition, taking on unique property challenges with the potential to add value and create developments that benefit both private and public sectors. Walters is active throughout southern New Jersey and eastern Pennsylvania. Projects include for-sale residential custom homes and planned communities; multi-family rental properties; off-campus student housing; affordable housing; retail; and large scale mixed-use developments.
History and Corporate Structure:
Walters Group began as Walters and Sons Construction Company, founded in 1984 as a single-family custom homebuilder. The company has evolved into a leading developer of diverse properties with a focus on Ocean County.
Today, Walters employs a talented staff of professionals through its ownership and development entities as well as operating divisions including:
- Walters Homes: single-family custom and planned community homebuilders
- Walters Development: land acquisition, approvals and environmental remediation
- Walters Contracting: construction management and general contracting
- Walters Management: property management and leasing of commercial and multi-family rental properties
- ReBuild: custom home division focused on rebuilding damaged single-family homes
Foundation and Philosophy:
Over the past three decades, Walters has approached new development by establishing strong public/private partnerships with sensitivity to the preservation of the natural environment. The organization attributes its progress to its willingness to become involved in projects with a variety of challenges and then using its resources to overcome the obstacles to development. The group’s activities respond to changing demographics and market demand, combining opportunistic investments with carefully planned development initiatives and a commitment to community, civic, business and charitable endeavors. This balance of objectives creates enhanced benefits for the company and for those municipalities in which it is active, ultimately contributing to an improved lifestyle for residents, businesses and visitors. The founders’ passion, progressive vision, and integrity have become a blueprint for continuing success.
With a focus on community giving, the employees of the Walters Group are consistently involved in activities that support a variety of key community organizations including:
- The Food Bank of Monmouth and Ocean Counties
- The Musser Blood Center in Philadelphia
- Habitat for Humanity
- The American Cancer Society
- Project Playground, Barnegat
- Southern Regional High School, Stafford
- Toys For Tots
- Barnegat Police Benevolent Association
- The Salvation Army
- Barnegat High School, Barnegat
Awards and Achievements
- 2014 NJAA Garden State Awards
- Excellence in Curb Appeal – Affordable Properties award to Laurel Oaks Apartments and Whispering Hills
- Green Building New Construction & Retrofits award to Laurel Oaks Apartments and Whispering Hills
- Excellence in Curb Appeal to Stafford Preserve
- Corporate Website Excellence
- 2014 NJBA SAM Awards
- Best rebuild of a single-family home
- Rising Star of the Year to Matthew Gaudet-Walters
- Project Superintendent of the Year to Victor Farano
- Sales Team of the Year to Michele Bowcock and Matthew Gaudet-Walters
- Sales Manager of the Year to Pam Schuster
- Best Color Newspaper Ad
- 2013 FAME Awards to Stafford Preserve:
- Community of the Year Grand Award
- Best Logo for Multifamily
- Best Brochure for Multifamily
- Best Interior Merchandising for Model – Multifamily
- Best Signage for Multifamily
- Best Sales Office for Multifamily
- Best Architectural Product Design for Multifamily
- Best Clubhouse/Recreation Amenities under 8,000 square feet
- 2013 FAME to ReBuild Division:
- Best Brochure
- Best Interior ReBuild (Moffett House)
- Best Landscaping
- Best Signage
- Color Ad ½ Page or Larger
- Best Sales Office
- Best Architectural Product Design
- Best Builder Sales Team: Matthew Gaudet-Walters and Michele Bowcock
- 2013 Outstanding Affordable Housing Award by New Jersey Builders Association presented by Shore Builders Association of Central New Jersey (SBACNJ)
- 2013, 2012, 2005 FAME Award: Sales Manager of the Year to Pamela Schuster
- 2013 FAME: Project Superintendent of the Year to Victor Farano
- 2013, 2011 ENERGY STAR Leadership in Housing award by the U.S. Environmental Protection Agency
- 2012, 2009, 2008 FAME: Salesperson of the Year to Laurie McManus
- 2012 FAME Award: Project Superintendent of the Year to Jon Parker
- 2012, 2005 FAME: Director/Vice President of Construction of the Year to Ken DeMayo
- 2012 FAME Awards for Stafford Preserve:
- Best Brochure
- Best Interior Merchandising
- Best Signage
- Best Clubhouse/Recreation Amenities
- 2012 New Good Neighbor Award to Stafford Park by the New Jersey Business & Industry Association
- 2011 FAME Awards for Stafford Preserve:
- Best Logo Design
- Best Sales Office
- 2010 Best Green Building FAME Award to Whispering Hills townhouses
- 2011 Brownfield Renewal Award – Stafford Park from Brownfield Renewal magazine
- Best Green Project of 2011 to Stafford Preserve by Mid Atlantic Real Estate Journal
- 2011 FAME Award: Best Corporate Design Center
- 2010 Green Builder of the Year FAME Award – Stafford Park by SBACNJ
- 2010 NJBA SAM (Sales and Marketing) Award
- Attached Community of the Year to Whispering Hills
- Salesperson of the Year to Laurie McManus
- 2010 FAME Award: Best Townhome Community of the Year to Whispering Hills
- 2010, 2009, 2008, 2006 NJBA SAM Award – Marketing Director of the Year – Pamela Schuster
- 2010 Builder of the Year by Shore Builders Association of Central New Jersey
- 2010 Governor’s Excellence in Housing Award to Stafford Park Apartments by the New Jersey Department of Community Affairs and New Jersey Housing and Mortgage Finance Agency
- “Best Place to Work in New Jersey” by Real Estate New Jersey magazine
- 2010, 2006 B.E.A.M. Award from SBACNJ
- SBACNJ Builders Hall of Fame inducts Edward Walters, Jr. in 2006
- NJBIZ Business of the Year finalist in 2007
- Community Appreciation Award in 2006 from the Barnegat Township Board of Education
- 2006 Best Apartment Living award for West Chester Commons by the Apartment Association of Greater Philadelphia
- 2006 Best Website & Best Brochure merit awards from SBACNJ
- 2005 Best Marketing Strategy merit award by SBACNJ
- 2005 Community Service award for charitable deeds by SBACNJ
- 2005 NJBA SAM Award – Ocean Acres at Barnegat.
- Smart Growth recognition by Delaware Valley Smart Growth Alliance
- 2000 NJBA SAM Award Project Superintendent of the Year to Jon Parker
Edward Walters Jr., founder and partner, began building custom homes on Long Beach Island after graduating from Saint Joseph’s University in 1984. He has established Walters as one of the most highly-respected real estate development companies in New Jersey. Under his leadership, Walters has planned and created residential communities throughout the state that are known for providing families and individuals with environments in which they can live healthy and vibrant lifestyles.
Joseph A. Del Duca, partner and director of affordable housing, is one of New Jersey’s recognized experts in matters relating to land use, public/private partnerships, approvals, and environmental law. He joined Walters as General Counsel and Partner in 2004 and currently oversees Walters’ development pipeline. His primary focus is on affordable housing. By harnessing the unparalleled network of relationships that he has established with municipal professionals and elected officials throughout New Jersey, leveraging his experience as both a land-use attorney and real estate developer, he has successfully obtained funding and approvals for more than 15 affordable housing communities located all over the State of New Jersey. In doing so, Del Duca has worked closely with those municipalities to help satisfy their affordable housing obligations. He is proud to have helped provide over 1,500 safe and affordable homes for New Jersey’s workers. Del Duca graduated from Rutgers Law School in 1982.
Timothy Regan, partner, joined Walters in 1992. During his tenure he has participated in the closing of more than $600 million in financing for construction, development and permanent mortgages. He earned a Bachelor of Science degree in financial management in 1985 from Saint Joseph’s University.
Kevin Price, chief financial officer, joined Walters in 2002. He oversees all aspects of accounting including financial analysis; general, cost, and property accounting; accounts payable; and the preparation of interim and annual financial statements. He earned a Bachelor of Science degree in accounting from Rutgers University and is also a certified public accountant and a member of the NJ Society of Certified Public Accountants.
Ken DeMayo, director of construction, joined Walters in 1995 and currently oversees all aspects of construction, including site development, buildings, construction personnel, purchasing and estimating. A two-time recipient of the Shore Builders Association of Central New Jersey’s “Director/Vice President of Construction of the Year” award, DeMayo is a graduate of Bethany College in West Virginia.
Custom Home Construction and Sales
Matthew Gaudet-Walters, director of business development, joined the company in 2012, playing an integral role in shifting the division’s focus from building subdivisions to custom homes. He currently implements new strategies to improve operations and enhance the customer experience. Within the custom home division, he brings together a team of design, build and sales experts who offer clients clear communication and construction oversight. Additionally, he supports the company’s digital assets and oversees the spec home program. He earned a Bachelor of Science degree in finance from Saint Joseph’s University.
Walters Realty LLC
Patrick Bocchicchio, broker, is a seasoned leader with 21 years experience in the residential real estate industry and 18 years as a broker. He oversees sales and operations for Walters Realty. Over the years, he has handled thousands of transactions. As part of the Walters team, he is involved throughout the construction process, working directly with a team of sales, design, architectural and building experts. Bocchicchio also helps clients choose the best vacant lots and teardown opportunities as well as assist with zoning, hazardous materials (asbestos), engineered fill, permits, utilities, etc. He offers clients access to new listings as well as mortgage and title insurance services.
Arnold Boyle, AIA, head of Walters Architecture, has 13 years of industry experience. While leading the architecture division, he collaborates with clients and reviews the planning, design and construction of new homes. From the start of a project, he analyzes a building site, determines state and local regulations and then sketches a preliminary plan based on a client’s needs. Whether its modifications to a pre-drawn design or custom plan created from scratch, he can execute clients’ ideas and turn them into reality. He has a Bachelor of Architecture from New Jersey Institute of Technology. Boyle is a member of Jersey Shore AIA, American Institute of Architects and National Council of Architectural Registration Boards.
Jack Del Duca, vice president of development, is responsible for all aspects of development process. This includes managing predevelopment imperatives and approvals, and insuring that the Walters team is compliant with all state, and investor, benchmarks. Jack earned a bachelor’s degree from Dickinson College and a master’s degree, with honors, in business administration from Drexel University. He is a member of the Affordable Housing Professionals of New Jersey, Philadelphia ULI, and a young leader of Project Home, a non-profit organization dedicated to housing Philadelphia’s homeless.
Edmond Speitel Jr., vice president of development, joined Walters in 2004 and oversees all aspects of the development process. In this capacity, he has been actively involved in the approvals and construction of over 1,000 affordable rental units and over 2,000 market rate units. He earned a bachelor’s degree in business administration and marketing from Drexel University. He is a member of the Affordable Housing Planners of New Jersey and is involved with Catholic Partnership Schools, a non-profit organization in Camden, NJ.
Melissa DeMayo, director of property management, joined Walters in 2002 and oversees property management of the organization’s diverse portfolio of residential and commercial properties. She is the managing agent for the organization’s tax credit properties while working closely with the New Jersey Housing Mortgage and Finance Agency (NJHMFA). She is responsible for the day to day operations of supervising many staff members across the portfolio along with preparing annual budgets. DeMayo, who earned her first real estate license while attending Florida Atlantic University, is an active member of the New Jersey Apartment Association (NJAA), through which she obtained her NALP designation. She earned her “CCCP” designation for tax credit, affordable housing through Spectrum Enterprises.
Dawn Cobianchi, Marketing/Creative Manager, joined Walters in 2015 and manages all aspects of branding, design, print and digital marketing for Walters Apartments. Previously employed as a Marketing Manager for MOREL Eyewear, an international eyewear manufacturer, and Weichert Realtors, she brings over 30 years of experience in marketing management in manufacturing, engineering and the real estate/building industries. With a degree in visual communications from the Art Institute of Pittsburgh, she has been recognized by the building industry with 15 awards for marketing and design excellence; and three international awards for best product display in a tradeshow environment. Cobianchi brings extensive technical competencies as a graphic designer along with strong analytical and presentation skills.
Walters Group Real Estate Portfolio
The Walters Group owns and manages a diverse portfolio including over 400,000 square feet of commercial space at Stafford Park, 70,000 square feet of retail property at Barnegat Village Square, 16,000 square feet of office space at Atlantic Commons, 349 for-sale lots in Stafford Park, and nearly 900 units of market-rate affordable apartments. Highlights follow.
Large-scale Projects Under Development:
Ocean Acres, Barnegat, NJ: This ambitious single-family residential development of luxury homes is situated less than 10 minutes from Long Beach Island in the historic town of Barnegat, which is part of a national wildlife refuge on Barnegat Bay. Walters is the majority lot owner of the 1,350 buildable lots within the designated development area. The company is planning to construct the homes in phases. Currently, the company has approvals for 209 homes within Phases 1, 4, and 5 which are currently being marketed and built. Prices start in the mid-$300,000 range with floor plans of up to 3,100 square feet.
Ocean Acres is a public/private partnership, which incorporates smart growth initiatives and protection of the New Jersey Pinelands through development within designated regional growth areas. Walters became involved in 1998 when it purchased the development rights and began acquiring individual lots. The company also was designated to develop the project infrastructure including roads, sewer, water and utilities at an estimated cost of more than $50 million. Installation of infrastructure is complete in approximately half of the phases.
To date, Walters has invested several million dollars on planning, design and engineering studies and working with The Pinelands Commission and the Township to define acreage eligible for development and conservation areas of the project. Walters reached an agreement with the Pinelands Commission in 2003 that involves protection of rare plants and endangered animal species, primarily snakes, and an expansion of the conservation zone. Approximately 40 percent of the Ocean Acres designated development will remain in its natural state.
Stafford Park, Manahawkin, NJ: Walters is the designated redeveloper of a 360-acre mixed-use redevelopment built on the site of a former landfill, located at Exit 63 of the Garden State Parkway. The project integrates 650,000 square feet of approved commercial space, 25,000 square feet of office space, 112 affordable housing units, 216 market rate apartments and 359 for-sale single family homes.
In 2004, Walter was named redeveloper of the property and worked closely with the Pinelands Commission and the Department of Environmental Protection (DEP) to remediate a 66-acre dormant landfill and another 13-acre landfill filled with storm debris. Walters completed the landfill closures in 2009. Today, Stafford Park is home to Costco, Target, Dick’s Sporting Goods, PetSmart, Best Buy, AT&T, Ulta, Vitamin Shoppe, Olive Garden, 216 market rate apartments,112 affordable apartments, and a host of municipal and county facilities.
The official groundbreaking took place on May 1, 2007. The first stage of the project, involving remediation of the site surrounding the landfills and their closing, began in December 2006 and has been completed. In addition, Walters Group completed construction on a $1 million southern Ocean County Animal Shelter located at Stafford Park. The Walters Group donated the cost of construction and materials to rebuild this 5,000-ssquare-foot state-of-the-art facility.
Stafford Park is a LEED-certified mixed-use redevelopment with the majority of retail tenants attaining LEED-Silver certification. Solar arrays sit on the rooftops of the retail facilities, providing 30 percent of the electrical needs of the stores and nearly 100% of the common area power needs for the affordable housing residents. In 2012, the first phase of Stafford Park’s new solar farm, one of the state’s largest solar projects, became operational. More than 3,300 solar panels combine to generate enough power to run nine commercial buildings within the mixed-use business park. The first phase consists of a 740 KW solar electric system, which produces approximately 950,000 kWh of electricity, powering eight adjacent Ocean County facilities and one Stafford Township municipal building.
Residential Projects in Progress
Albertson Village, Haddon Township, NJ: Walters is redeveloping this 3 1/2 acre former industrial site into a LEED-certified luxury apartment complex, consisting of 82 units. The site is located immediately adjacent to the PATCO high-speed rail line. The project will include an affordable component consisting of eight units. Parking garages and other amenities will be available for residents.
Completed LIHTC Projects:
Whispering Hills Apartments, Barnegat, NJ: This LEED-certified affordable apartment-rental community consists of seven low-rise buildings, totaling 52 units. The project is located off Rose Hill Road, between Barnegat Boulevard and Route 9.
Laurel Oaks, Barnegat, NJ: Completed in 2013, Walters developed, owns and manages this 94-unit, apartment community. This LEED Platinum project involved the redevelopment of a highly visible site that housed a closed tavern. Located on Route 9, it offers access to public transportation and recreational amenities such as an onsite tot-lot playground, basketball court, clubhouse with fitness center, Ocean County Rails to Trails, Barnegat Bay, and an athletic field complex.
Stafford Park Apartments, Manahawkin, NJ: Completed in 2013, this LEED-Gold certified affordable housing complex features 112 energy-efficient units. Stafford Park Apartments was the 2010 winner of The Governor’s Excellence in Housing Award for “Best in Housing.” For more information, visit www.staffordparkapts.com.
Completed Residential Projects:
Stafford Preserve, Manahawkin, NJ: An eco-friendly LEED-certified luxury apartment community. Located in Stafford Park, the community is comprised of 18-three-story buildings, totaling 216 units.
Whispering Hills, Barnegat, NJ: Situated on 85 acres, this planned residential community includes 206 for-sale units consisting of single-family and townhomes. This is an eco-friendly community ideally positioned near abundant recreational amenities.
Atlantic Heights Apartments, Barnegat, NJ: This 310-unit apartment community is situated on 48 acres in southern Ocean County. Amenities include an onsite clubhouse, resort-style swimming pool and state-of-the-art fitness center. For more information, visit www.atlanticheights.com.
Rose Hill Estates, Barnegat, NJ: Developed between 2003-2005, this single-family development consists of 54 lots located off Barnegat Boulevard North in Barnegat Township near the Township Sports Complex and three schools.
Rose Hill Manor, Barnegat, NJ: Developed between 1997 and 2003, this project featured 134 lots for single-family home construction.
Brookville Manor, Barnegat, NJ: Built between 1997 and 2003, these 119 homes were sold out in 2003.
Ocean Acres, Stafford Township, NJ: Developed between 1992 and 1998, this community of 414 homes was built within the large-scale Ocean Acres development in Stafford Township. This development abuts the Ocean Acres, Barnegat project and includes 126 homes in The Oaks of Stafford, built between 1994-1999; 66 homes within Atlantic Estates, built between 1999-2003; and 41 homes developed in The Leeward Gaff area from 1999-2002. As a public/private partnership, Walters completed infrastructure installation of roads, curbs and utilities for a number of the neighborhoods.
Completed Commercial Projects:
Atlantic Commons, Barnegat, NJ: A professional business complex comprised of four buildings totaling over 21,000 square feet. In addition to serving as Walters’ corporate headquarters and design center, the complex also features two real estate and insurance firms, a daycare facility and a medical facility.
Barnegat Village Square, Barnegat, NJ: Walters developed this 70,000-square-foot shopping center in 1998. Tenants include Burger King and an additional 22,000 square feet of smaller retail shops.
Completed Student Housing:
West Chester Commons, West Chester, Pa.: In 2004, Walters redeveloped the property into off-campus student housing.. Located near West Chester University in Pennsylvania, this facility offers housing for 459 students in 128 apartments. The one- to four-bedroom units consist of common living rooms, dining rooms and kitchens. Recreational amenities include a state-of-the-art fitness center, volleyball court, basketball court and pool tables. For more information, visit www.wccommons.com.
College Arms, West Goshen, Pa.: College Arms Apartments is a renovated off-campus student housing development. The housing was created for West Chester University students, offering 41 independent living units with 101 beds. Amenities include picnic areas with grills, and residents are able to use all of West Chester Commons’ amenities. For more information, visit www.collegearms.com.