A rendering of Cornerstone at Seaside, located at the corner of Bay Boulevard and Hamilton Avenue — Courtesy: The Walters Group
By Joshua Burd
The Walters Group has started construction on its latest apartment community in Ocean County, a 91-unit project that is set to redevelop a long-neglected block in Seaside Heights.
The developer said this week that it was moving ahead with the project known as Cornerstone at Seaside, located at the corner of Bay Boulevard and Hamilton Avenue. The age- and income-restricted complex is slated for completion by November 2018, offering high-end end apartments in one- and two-bedroom layouts.
The construction follows the completion of demolition that began in March, Walters Group said in a news release. The firm made way for the project by razing the former Travel Inn Motel, Seaside Lumber yard and hardware store and a five-family apartment building.
“Cornerstone at Seaside will address local housing needs by providing high-quality apartments with numerous services and amenities for older adults who are cost burdened,” said Ed Walters Jr., president and founder of Walters Group. “This development will allow residents to age in a safe, affordable and well-built home.”
The income-restricted units will be open to older adults who do not make more than 60 percent of the county’s median income, the news release said. As part of the development, Walters Group is pursuing LEED certification, short for Leadership in Energy and Environmental Design, as well as Energy Star status by incorporating features such as the use of recycled materials during construction and a close proximity to local retailers.
Walters Group has several planned and ongoing income-restricted housing developments throughout the state. Since December 2016, the developer has completed Cornerstone at Barnegat and Cornerstone at Lacey.
It’s also nearing completion of Cornerstone at Toms River, with a grand opening slated for this month.