Bringing 70 income-restricted apartments to Burlington County, Walters announced Dec. 21 that it held a grand opening for Cornerstone at Lumberton.
The Dec. 15 celebration was attended by Walters‘ staff and state and local officials, including New Jersey Housing and Mortgage Finance Agency Executive Director Melanie Walter, Lumberton Mayor Gina LaPlaca, Deputy Mayor Rue Ryan, Committeeman Terrance Benson, Committeewoman Kendra Hatfield and Assemblywoman Carol Murphy, D-7th District.
The one-, two- and three-bedroom units at 1 Cornerstone Drive in Lumberton have already begun welcoming residents.
“The reality is that there is a great need for affordable housing in New Jersey,” said LaPlaca. “While some communities shirk their responsibility for affordable housing, Lumberton is proud to play our part and we’re honored that Walters sees Lumberton as a community of opportunity.”
According to LaPlaca, there are already 650 applications for Cornerstone at Lumberton’s 70 units, which offer amenities including full-size, in-unit washers and dryers; fully equipped kitchens with granite countertops; secure key fob access; computer workstations; and a barbecue and picnic area, half-court basketball facility and onsite resident services.
According to Walters, green community Cornerstone at Lumberton is designed to achieve LEED and Energy Star status for its incorporation of sustainable features. It features non-invasive landscaping, Energy Star-certified appliances and utilized recycled materials during construction.
“Like most towns with very high homeownership rates, a lack of rental housing can raise rents for existing housing, making it challenging for residents to live and work in their own community,” said the NJHMFA’s Walter. “By leveraging state and federal support to build affordable housing in communities like Lumberton and across Burlington County, we can start to reverse these difficult trends. So far, 18 projects in Burlington County have been awarded 9% tax credits since 2010.
“NJHMFA looks forward to advancing affordable housing opportunities in partnership with communities and developers throughout this region,” she added.
During the ceremony, the Barnegat-based residential and commercial developer was honored with a Joint Legislative Resolution patroned by Murphy and state Sen. Troy Singleton, D-7th District. Walters Founder and Partner Ed Walters Jr. and Partner and Director of Affordable Housing Joseph Del Duca were presented with the resolution for the firm’s contribution to the community.
“It’s a thrill and a joy for us to provide this type of quality affordable housing to Burlington County,” said Del Duca. “We put our hearts and souls into every development because we want to create vibrant communities that will endure.”
In June, Walters welcomed its first residents at Cornerstone at Greentree, a 55-plus income-restricted community in Marlton.