Cornerstone at Holmdel will include 50 income-restricted apartments across three new three-story buildings. — Courtesy: Walters
By Joshua Burd
Walters has reached the final phase of construction at what will be Cornerstone at Holmdel, a new income-restricted multifamily property near two of the region’s key highways.
The developer on Monday announced the milestone while noting that an affordable housing lottery is underway for the collection of one-, two- and three-bedroom homes on Middle Road. Applications to enter the lottery will be accepted through Wednesday, Dec. 13, while the drawing will take place on Thursday, Dec. 21, ahead of a planned spring 2024 debut.
“We’re proud to bring Cornerstone at Holmdel to families in Monmouth County,” said Joe Del Duca, partner and director of affordable housing for Walters. “Residents will enjoy the flexibility and convenience of apartment living with high-end amenities at an affordable price.” Community spaces will include a fitness room, playground and outdoor areas with seating and gas grills.”
Sitting on a four-acre tract, Cornerstone at Holmdel is minutes from routes 35 and 36 and will include three newly developed, three-story residential buildings designed and constructed to meet key environmental and energy efficiency benchmarks, according to a news release. Each home will have an enclosed entryway, an open floor plan, upgraded interior finishes and signature detailing, while residents will also enjoy easy access to shopping, dining and entertainment options such as the Holmdel Towne Center and The Commons at Holmdel, along with the 11-acre Allocco Park nearby.
Cornerstone at Holmdel will be available to residents whose incomes are at or below 60 percent of the area median income.
