Cornerstone at Grassy Hollow II, a premium income-restricted apartment community in Manahawkin, has reached full occupancy, according to Walters, the award-winning property’s owner and developer. Located at 200 Back Road in Manahawkin, the 34-residence property was completed at year-end 2024.
“Having access to affordable homes can change lives — it means better schools, better health and more financial stability for families,” said Joe Del Duca, partner and director of affordable housing for Walters. “There’s a strong, ongoing demand for affordable housing, and we’re proud to have added a new option to meet that need in the community.”
Cornerstone at Grassy Hollow II consists of two- and three-bedroom apartments in four buildings. Residents enjoy a variety of high-end amenities such as a state-of-the-art fitness center, children’s tot lot, basketball court and community clubhouse with computer workstations. Apartments are equipped with in-unit washers/dryers.
In addition to managing the property, Walters provides on-site supportive services such as after-school programs, special interest clubs, career readiness, a food pantry program, eviction prevention and social services assistance.
Residents also enjoy proximity to local shopping areas, dining and entertainment. With Long Beach Island just 10 minutes away, residents have easy access to local beaches and many other recreational facilities.
Rental rates at Cornerstone at Grassy Hollow II are income-restricted, with all the units available to those who earn 60% or less of the area’s median income. Rates are based on the renter’s gross annual income, according to the rent/income requirements chart.
