8B — July 29 - August 11, 2016 — Owners, Developers & Managers — M id A tlantic

Real Estate Journal


O wners , D evelopers & M anagers

First building is expected to be ready for occupancy in February 2017 Construction underway on phase one of Walters Group’s 70-unit community Cornerstone at Lacey F

the Laurel Oaks leasing office located at 465 North Main St., Barnegat. For 90 days after the certificate of occupancy, priority for residency will be given to qualified Sandy-im- pacted individuals who were displaced by or experienced major severe storm damage. Eligible applicants will be considered on a first come first serve basis. Located off Calvin St. near Municipal Lane, phase one of Cornerstone at Lacey is being built on an 8.4-acre site. The project is designed to achieve LEED and ENERGY STAR certification for incorporat- ing a number of sustainable features. “The residential project will provide a much-needed affordable housing option for families in the area,” said Ed Walters, Jr. , president and founder of Walters Group. “People from all walks of life will benefit from such hous- ing, including young families, people on fixed-incomes, and our community’s essential service workers.” The modern two - s tory buildings will feature one-, two- and three-bedroom floor- plans, each with individual entrances and upgraded in- terior finishes. Residents will have access to a large com- munity clubhouse equipped with computer work stations and fitness center. The second phase of the project will add another 48 units and is expected to begin after some of the buildings in the first phase are complete. In connection with the con- struction of this community, over 15 acres of land will be permanently deed restricted from future development. Walters Group is planning the development of several affordable housing projects in Ocean and Burlington Coun- ties. Two projects for seniors (55+) are under construction in Barnegat and Toms Riv- er. The other developments will be workforce housing for families and are planned for Delanco, Jackson, and Howell. The Walters Group is a leading residential and com- mercial real estate developer with offices in Barnegat and Haddonfield, NJ. Founded in 1984, the privately held company has built residential custom homes, planned com- munities, multi-family, af- fordable housing and student housing projects. n

ORKEDRIVER, NJ — Construction is under- way on the first phase of Cornerstone at Lacey, a new 70-unit affordable rental community for families. The project, being developed by Walters Group , will fill a need for affordable housing in the township as well as give priority to Sandy-impacted residents. Work on the project began in the spring and the first building is expected to be ready for occupancy in Febru- ary 2017. Beginning on October 3, ap- plications will be accepted at

Cornerstone at Lacey rendering

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