Walters Group Begins Work on Cornerstone at Delanco

Construction Kicks Off on New Income-Restricted Apartment Community in Delanco. End Quote

Monmouth-Ocean, NJ (1888PressRelease) December 02, 2017 - Walters Group has broken ground on Cornerstone at Delanco, a 64-unit income-restricted apartment community, on the vacant site of a former pipe factory at 200 Rhawn St. off Pennsylvania Avenue. The community is designed to be LEED®-certified and ENERGY STAR® rated, providing healthful living for residents while reducing energy costs.

Cornerstone at Delanco is being built on a 5.37-acre property next to the Rancocas Creek and the New Jersey Transit Delanco Rail Station. The development will consist of eight two-story buildings with eight units each. Plans call for 16 three-bedroom units, 36 two-bedroom units and 12 one-bedroom units. Apartments will be leased exclusively to residents whose incomes are at or below 60 percent of the area median income. Walters Group estimates it will take 12 to 15 months to complete the development.

“This will be an inviting new community that meets an affordable housing obligation and satisfies a local need for workforce housing,” said Joseph Del Duca, partner and general counsel for Walters Group. “The property is within walking distance to the River Line, which makes it ideal for commuters.”

Apartment amenities will feature private entrances, upgraded interior finishes, half-court basketball, tot-lot playground and community clubhouse with fitness center.

Cornerstone at Delanco is designed to earn LEED and ENERGY STAR status for incorporating a number of sustainable features. The energy-efficient development will feature non-invasive landscaping, the use of recycled materials during construction and a close proximity to local retailers. Energy Star appliances will help residents with long-term reductions in utility costs.

Walters Group has several planned and ongoing income-restricted housing developments throughout the State of New Jersey. Since 2016, the developer has completed Cornerstone at Barnegat, Cornerstone at Toms River and Cornerstone at Lacey.

The Walters Group manages every aspect of a development from design and construction to property management. For more information, visit www.walters-group.com.

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