50 Income-Restricted Apartments on Track for Spring 2024 Occupancy
HOLMDEL, N.J. (Nov. 13, 2023) — The affordable housing lottery has kicked off for Cornerstone at Holmdel, a premium, income-restricted multifamily community by Walters, an award-winning developer based in Barnegat. Construction is entering its final phase with the 50-apartment development slated to open in late spring 2024. Applications to enter the housing lottery will be accepted through Wednesday, Dec. 13, 2023. The drawing will take place on Thursday, Dec. 21.
Situated on Middle Road in Holmdel, the four-acre property includes three newly developed, three-story residential buildings, designed and constructed to meet LEED® Gold requirements and ENERGY STAR® certification. The one-, two-, and three-bedroom layouts range from 667 to 1,150 square feet. Each residence features an enclosed entryway, an open floor plan, upgraded interior finishes, and signature detailing.
“We’re proud to bring Cornerstone at Holmdel to families in Monmouth County,” said Joe Del Duca, partner and director of Affordable Housing for Walters. “Residents will enjoy the flexibility and convenience of apartment living with high-end amenities at an affordable price.” Community spaces will include a fitness room, playground and outdoor areas with seating and gas grills.
Residents will also enjoy easy access to a vast array of shopping, dining and entertainment options such as the Holmdel Towne Center and The Commons at Holmdel. Also nearby is Allocco Park, an 11-acre recreational area with a baseball field, basketball court, a walking trail, tot lot and more.
Cornerstone at Holmdel will be available to residents whose incomes are at or below 60% of the area median income. Rental rates vary depending on the size of the apartment and the renter’s gross annual income, according to the rent/income requirements chart on the company website. Call (732) 495-1000 for a housing application or visit waltersgroupapartments.com.
Barnegat, N.J.-based Walters is an award-winning leader in sustainable construction and over the past two decades has developed affordable housing communities throughout New Jersey. Walters manages every aspect of development from design and construction to property management. The privately held firm is committed to the highest construction standards and environmentally responsible building practices. Since 1984, Walters has grown steadily, creating three divisions—Walters Homes, Walters Architecture LLC and Walters Apartments.