Walters, an award-winning developer based in Barnegat, has announced the launch of the affordable housing lottery for Cornerstone at Lacey III, a 70-unit income-restricted apartment community located at 900 Gary Smith Way in Lacey Township.
The final phase of the development is slated for occupancy in June. Applications for the housing lottery will be accepted through Wednesday, April 30, with the drawing scheduled for May 7.
“We’re proud to create affordable housing that supports residents across different income levels while enriching the entire community,” said Partner and Director of Affordable Housing for Walters Joe Del Duca. “The first two phases have been well received and are now fully occupied.”
A Key Addition to Lacey Township’s Affordable Housing Options
When fully completed, Cornerstone at Lacey will include a total of 188 affordable housing units across 23 buildings. The first two phases offer one- to three-bedroom apartments with individual entrances, while the third phase will provide only two- and three-bedroom units. The development will feature a new community clubhouse with computer workstations, a state-of-the-art fitness center, a children’s tot lot, barbecue and picnic areas, and a half-court basketball court. A social services coordinator will be available to residents upon request.
The development is designed to meet LEED® requirements and ENERGY STAR® certification standards, ensuring energy efficiency and sustainability. With a focus on affordable housing, rental rates for Cornerstone at Lacey III are income-restricted, available to individuals earning 60 percent or less of the area’s median income. Rental rates are based on the applicant’s gross annual income.
Prime Location with Access to Key Amenities
Situated near the Garden State Parkway, Lacey Township schools, beaches, large retailers, waterfront restaurants, and local medical facilities, Cornerstone at Lacey III offers residents convenient access to a range of essential services and amenities.
