New apartment complexes opening in Marlton
EVESHAM — Two new township apartment complexes will house hundreds of people, according to officials familiar with the project.
Walters, a development company based in Barnegat, is close to opening a family community, Cornerstone at Marlton, on Executive Drive and a senior community on Stow Road, Cornerstone at Greentree. Both are 100 percent affordable housing projects that were initially approved by the township planning board in 2018.
The family neighborhood will have 64 units and the senior neighborhood will have 68, according to Joe Del Duca, the owner of Walters. Both complexes will reserve 50 percent of the apartments for moderate income tenants and the other half for low income tenants.
A median income for a family of four in the Burlington, Camden and Gloucester region is $78,000, said Del Duca. It is around $60,000 for two people, he added.
Walters plans on opening both communities this month. Anyone interested in applying for a unit should visit the company’s website: https://www.waltersgroupapartments.com/. You can also call the company at 609-607-9500.
The rents, which range from $485 a month for a one-bedroom apartment to $1,325 for a three-bedroom, ensure that no family will pay more than 30 percent of its income, said Del Duca. Usually, families in need of affordable housing pay about 50 percent of their income on rent.
“People who work retail jobs, in medical offices, in municipal buildings, typically can’t afford to live in a place like Evesham,” he said. “It’s a high income community.”
Township officials are happy to welcome the new residents, they said.
“Both projects help complete our affordable housing obligation,” added Evesham Mayor Jaclyn Veasy. “They also give a great opportunity for people to have housing here in Evesham.”
Adding hundreds of new residents will also help stimulate the local economy, according to the mayor. And that has been a major town initiative over the past year.
Ever since the coronavirus pandemic broke out last March, officials have been spreading an “eat, shop and play local” message on the township’s website and social media pages.
They want to turn this into a long-term campaign, too, with several initiatives in the works for 2021, including “Marlton Mondays,” when residents will get 10 percent off at Marlton businesses for a series of Mondays.
“Support local,” the mayor said. “Whether you’re a homeowner or a renter, that benefits everyone.”
A local news and sports reporter around Pennsylvania and New Jersey since 2015, Jarrad Daniel Saffren joined The Burlington County Times’ award-winning local news team in October 2019, adding business, education and town government features to the coverage. Contact him at jsaffren@gannett.com and follow him on Twitter @JarradSaff. Please help support local journalism with a subscription to The Burlington County Times.