Walters has begun site work on a new 60-unit income-restricted apartment and townhome community to be named Cornerstone At Grassy Hollow. The first residential building is slated for completion by year-end 2019.
Located at 200 Back Road, Cornerstone At Grassy Hollow is a multifamily neighborhood comprised of one-, two- and three-bedroom apartments and townhomes, ranging from 729 net square feet to 1,289 net square feet. The apartments will feature individual private entrances.
“This development fits with our program to create much needed, new income-restricted housing,” said Joe DelDuca, partner and director of affordable housing for Walters. “It’s important for communities to offer a variety of housing options so that residents of different income levels can remain in their communities.”
The two- and three-story buildings are being designed to achieve LEED® and ENERGY STAR® certification, providing healthful living for residents while reducing energy costs. The U.S. Green Building Council (USGBC) oversees the point-based LEED program which rates projects based on a structure’s characteristics and the building methods employed during construction.
In addition to being eco-friendly, Cornerstone At Grassy Hollow will offer more modern amenities than most people would expect to find even in market-rate communities, according to Walters. The suburban community will provide a mix of services and amenities, including private entrances to each home, a children’s tot lot, basketball court, and a community clubhouse with computer workstations and a fitness center, and a program of resident activities. Each apartment will feature in-unit washer/dryer and benefits from 24/7 on-site management and maintenance. Resident activities and events are offered through our staffed social services coordinator.
Located in the Manahawkin section of Stafford Township, the community will offer close proximity to local shopping areas, dining and entertainment. With Long Beach Island just minutes away, residents will have easy access to local beaches and many other recreational facilities.
Cornerstone At Grassy Hollow will be open individuals and families who do not make more than 60 percent of the county’s median income.
Walters manages every aspect of a development from design and construction to property management. The developer has several income-restricted housing developments underway throughout New Jersey.