Cornerstone at Lacey III at 900 Gary Smith Way in Forked River — Courtesy: Walters
By Joshua Burd
Walters is marking the completion of a new income-restricted rental property in Ocean County after reaching full occupancy at the project’s third and final phase.
Known as Cornerstone at Lacey III, the 70-unit development in Forked River has a mix of one-, two- and three-bedroom floorplans with individual entrances. The complex at 900 Gary Smith Way also has amenities such as a playground, grilling and picnic areas and half-court basketball, while a staffed social services coordinator is available upon request.
The project is the sister community to Cornerstone at Lacey I and II.
“It’s rewarding to see residents settling into these beautiful new high-quality, affordable homes,” said Joe Del Duca, partner and director of affordable housing for Walters. “Expanding access to affordable housing is essential, especially for those who want to live at the Jersey Shore but might otherwise be priced out.”
In a news release, the firm added that Cornerstone at Lacey III is designed to meet the requirements of the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale and Energy Star certification. The former calls for a standard of homes that are healthier places to live, produce lower utility bills, have better air quality and leave a smaller environmental footprint.
Rental rates at Cornerstone at Lacey III are income-restricted with all the units available to those who earn 60 percent or less of the area’s median income, the news release said. Rates are based on the renter’s gross annual income, according to the rent and income requirements chart.
Walters, meantime, noted that the community is located near the Garden State Parkway, Lacey Township schools, supermarkets, retailers, beaches, waterfront dining and a range of local medical facilities.
