Walters, an award-winning developer with offices in Barnegat and Haddonfield, N.J., held a ribbon-cutting ceremony to celebrate the opening of Cornerstone at Delanco, a 64-unit premium income-restricted housing development built on the site of a former pipe factory at 200 Rhawn St. Among the attendees were Delanco Mayor Kate Fitzpatrick; Assemblywoman Carol Murphy; representatives of Senator Troy Singleton’s office; Walters’ employees and residents.
“We are really proud of this community and it wouldn’t have happened without the wonderful support of the town and its leaders,” said Joseph Del Duca, partner and director of affordable housing for Walters. “Among the things we’ve accomplished here are to ensure that everybody has their own front door while having the opportunity to participate in many on-site activities. Also, this is a LEED-Gold® and Energy Star® community which provides an energy efficient and cost-saving environment for residents.”
During the ceremony, Walters was honored with a Joint Legislative Resolution patroned by state Senator Troy Singleton, Assemblyman Herb Conaway and Assemblywoman Carol Murphy, commending the development firm for its contribution to the community.
Assemblywoman Murphy presented the resolution and stated that, “We cannot be more proud to stand in a facility that is inclusive and provides people with the opportunity to live in the town where they want to live and be part of the community. I am a big supporter of affordable housing because it gives people the chance to grow and prosper while helping the economy grow.”
Cornerstone at Delanco encompasses eight two-story buildings with private entrances. The development offers a mix of one-, two- and three-bedroom apartments leased exclusively to tenants whose incomes are at or below 60 percent of the area median income. Rental rates will be based on income, family size and the number of bedrooms and will be between $424 per month and $1,150 per month.
As a sustainably designed community it provides residents with a safe, affordable, high-quality lifestyle. Open floor plan apartments feature amenities such as a full-size washer/dryer in every unit, fully equipped kitchen with granite countertops, ceramic tile in bath, secure key fob access, intercom entry and cameras, outdoor BBQ and picnic area, children’s tot lot, covered bicycle storage, clubhouse with fitness center, computer workstations, and 24/7 on-site management and maintenance. A social service coordinator is available upon request.
Cornerstone at Delanco is located adjacent to New Jersey Transit’s Delanco Rail Station and borders the scenic Rancocas Creek. It is the former site of Rhawn Flange and Machine Co., which was abandoned for several years before a fire in 2014 forced the township to demolish it.
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.