Walters Apartments has kicked-off the affordable housing lottery for Cornerstone at Lacey III, a 70-unit premium income-restricted apartment community located at 900 Gary Smith Way in Lacey Township. Occupancy is slated for June of 2025. Applications to enter the housing lottery will be accepted through Wednesday, April 30, 2025. The drawing will take place on May 7, 2025.
“We’re proud to create affordable housing that supports residents across different income levels while enriching the entire community,” said Joe Del Duca, Partner and Director of Affordable Housing for Walters. “The first two phases have been well received and are now fully occupied.”
When completed, Cornerstone at Lacey will comprise a total of 188 affordable housing units in 23 buildings. The first and second phase offer one- to three-bedroom apartments with individual entrances. In the third phase, only two- and three-bedroom apartments will be available. The development will feature a new community clubhouse with computer workstations and a state-of-the-art fitness center. Residents can enjoy a children’s tot lot, barbecue and picnic area, and half court basketball. A staffed social services coordinator will be available upon request.
Designed and constructed to meet LEED® requirements and ENERGY STAR® certification, the development will offer a mix of, two- and three-bedroom apartment homes. Parking will be available for residents.
Rental rates at Cornerstone at Lacey III are income-restricted with all the units available to those who earn 60 percent or less of the area’s median income. According to the rent and income requirements chart, rates are based on the renter’s gross annual income.
The community is ideally located near the Garden State Parkway, Lacey Township schools, beaches, large retailers, waterfront restaurants, and a network of local medical facilities.
Walters manages every aspect of development from design and construction to property management. Call (609) 242-6430 for a housing application or visit www.waltersgroupapartments.com.
Media Contact: Caryl Communications – Maxine Aviles / Jamie Platt
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