From left: Ed Walters Jr., Walters’ founder and partner; Collin Smith (representing state Sen. Troy Singleton); Assemblywoman Carol A. Murphy; Delanco Mayor Kate Fitzpatrick; former Delanco Mayor John Ciancio; Yadira Simmons of the state Housing and Mortgage Finance Agency; and Joe Del Duca, Walters’ partner and director of affordable housing — Courtesy: Walters
By Joshua Burd
Walters has completed its redevelopment of a former pipe factory in Burlington County, delivering a 64-unit income-restricted community steps from NJ Transit rail service.
The developer welcomed public officials recently to mark the opening at 200 Rhawn St., the site of what’s now known as Cornerstone at Delanco. The complex, which includes eight two-story buildings with private entrances, offers a mix of one-, two- and three-bedroom apartments leased to tenants whose incomes are at or below 60 percent of the area median income.
Monthly rents will be based on income, family size and the number of bedrooms and will be between $424 and $1,150, Walters said.
“We are really proud of this community and it wouldn’t have happened without the wonderful support of the town and its leaders,” said Joseph Del Duca, partner and director of affordable housing for Walters. “Among the things we’ve accomplished here are to ensure that everybody has their own front door while having the opportunity to participate in many on-site activities. Also, this is a LEED-Gold and Energy Star community, which provides an energy efficient and cost-saving environment for residents.”
The Barnegat-based developer unveiled the property during a ceremony that drew Delanco Mayor Kate Fitzpatrick, Assemblywoman Carol Murphy and representatives of state Sen. Troy Singleton’s office, along with Walters employees and residents.
“We cannot be more proud to stand in a facility that is inclusive and provides people with the opportunity to live in the town where they want to live and be part of the community,” Murphy said. “I am a big supporter of affordable housing because it gives people the chance to grow and prosper while helping the economy grow.”
Cornerstone at Delanco sits on the former site of the Rhawn Flange and Machine Co., which was abandoned for several years before a fire in 2014 forced the township to demolish it, according to a news release. The property is now home to a high-end yet affordable rental community adjacent to NJ Transit’s Delanco rail station and bordering the Rancocas Creek.
Each apartment within the sustainably built community features a washer and dryer, a fully equipped kitchen with granite countertops, intercom entry and cameras. The property also has amenities such as an outdoor grilling and picnic area, children’s tot lot, a clubhouse with fitness center and computer workstations, among other features.