Cornerstone at Barnegat — Courtesy: The Walters Group
By Joshua Burd
The Walters Group has opened the doors to a new 70-unit age-restricted community in Barnegat, touting a project that was completed less than a year after it closed on the property.
Dubbed Cornerstone at Barnegat, the three-story complex is located at 9 South Main St. in the township. It is also income-restricted, made up of one- and two-bedroom units and a host of amenity spaces that were incorporated with seniors in mind.
The developer hosted a ribbon-cutting ceremony at the complex recently that drew Barnegat Mayor John Novak, Anthony Marchetta of the New Jersey Housing and Mortgage Finance Agency, residents and employees. Joe DelDuca, a Walters Group partner, highlighted the fact that the project opened less than a year after the firm acquired the site.
“That’s an amazing feat and it’s not just our accomplishment,” DelDuca said. “Building homes where people live is very important to us, and we take it seriously. It’s more than a business for us — it’s our passion.”
Cornerstone at Barnegat was designed to achieve a gold rating on the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale. DelDuca said that “translates into a building that is extremely energy efficient. We’ve spent money behind the walls, in the systems of the building, to make sure it endures and sustains for a long period of time.”
The state Housing and Mortgage Finance Agency was the principal funder for the project, thanks in part to federal programs aimed at helping victims of Hurricane Sandy. As such, during the first 90 days of leasing, priority is given to qualified Sandy-impacted individuals who had been displaced by or experienced major or severe storm damage from the November 2012 storm.
“I’ve known Walters for six years and they’ve done a pretty phenomenal job in this area,” said Marchetta, executive director of the Housing Mortgage and Finance Agency. “You are fortunate to have them here. This is an excellent project.”
The developer said the building’s sustainability features will result in significant savings in energy consumption for residents. Amenities include large gathering areas, fitness center, conference room, computers, outdoor barbecue area, secured access, elevators, on-site management and maintenance.
