70 premium, income-restricted apartment units in Lacey Township are available through an affordable housing lottery. Lacey III, the final phase of the Cornerstone at Lacey development, began construction last fall.
The community is slated for a June 2025 opening. Barnegat-based developer Walters is conducting the housing lottery, with applications accepted through Wednesday, April 30. The drawing is scheduled for May 7.
“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 phase three construction is finished, Cornerstone at Lacey will comprise 188 affordable housing units in 23 buildings. Phases one and two offer one- to three-bedroom apartments. Phase three will be a mix of two- and three-bedroom apartments.
Residents will enjoy a fitness center, a community clubhouse with computer workstations, children’s play space, barbecue and picnic area, and half-court basketball. The entire development has been built to meet LEED® requirements and ENERGY STAR® certification.
Cornerstone at Lacey is located at 900 Gary Smith Way near the Garden State Parkway, Lacey Township schools, shopping, restaurants, medical facilities and the waterfront on Barnegat Bay.
Rental rates for Lacey III are income-restricted and available to those earning 60% or less of the area’s median income. For information on income requirements and lottery application please visit Walters’ website.
