Cornerstone at Montvale at 161 Summit Ave. in Montvale — Courtesy: Walters
By Joshua Burd
Walters has completed construction on a new two-building, 25-unit multifamily project in Montvale that will provide housing for low- and moderate-income families.
The developer said the property, Cornerstone at Montvale, was almost fully leased as of Dec. 20 after opening earlier in the fall. Located on Summit Avenue, the property is available to residents whose incomes are at or below 60 percent of the area’s median income, with amenities such as a fitness room, a playground and outdoor areas with seating and gas grills.
The complex also has 55 parking spaces and a bike shed to accommodate 18 bicycles.
“Walters is proud to welcome our new residents to enjoy this new extraordinary property in picturesque Bergen County,” said Joseph Del Duca, partner and director of affordable housing for Walters. “Cornerstone at Montvale combines high-quality amenities, private front door entrances, and an ideal suburban location less than an hour from Manhattan.”
In a news release, the firm noted that Cornerstone at Montvale has certifications from Energy Star and the U.S. Green Building Council’s Leadership in Energy and Environmental Design scale. It added that a staffed social services coordinator is available upon request.
