Barnegat-based developer and construction firm Walters Group recently announced it has kicked off construction of Cornerstone at Seaside Heights, an age- and income-restricted community.
Cornerstone at Seaside is located at the site of the former Travel Inn Motel, Seaside Lumber yard, a hardware store and a 5-unit apartment building. The property sits at the corner of Bay Boulevard and Hamilton Avenue, and will deliver 91 one- and two-bedroom units.
“Cornerstone at Seaside will address local housing needs by providing high-quality apartments with numerous services and amenities for older adults who are cost burdened,” Ed Walters, Jr., founder and president of Walters Group, said. “This development will allow residents to age in a safe, affordable and well-built home.”
The property, slated for completion in November 2018, will be open to seniors with an income of less than 60 percent the county’s median income.
Walters Group said Cornerstone at Seaside is designed to achieve both LEED and Energy Star certifications.
“As an energy-efficient and green property, Cornerstone at Seaside will feature non-invasive landscaping, the use of recycled materials during construction and a close proximity to local retailers,” the firm said in a news release. “In addition, Energy Star appliances will help residents with long-term reductions in utility costs.”
The Walters Group recently completed Cornerstone at Barnegat and Cornerstone at Lacey, two income-restricted housing projects. The firm also said it is nearing completion of Cornerstone at Toms River, another income-restricted development expected to open in September.