Walters Nears Completion of 150-Unit Cornerstone at Branchburg Affordable Community in New Jersey

by Jeff Shaw

BRANCHBURG, N.J. — Walters is nearing completion of Cornerstone at Branchburg, a 150-unit age- and income-restricted community in Branchburg, approximately 45 miles west of Manhattan.

As the developer puts the “finishing touches” on the community’s second building, the company expects to open the property later this month.

“Amid continued demand for age-restricted housing in the regional marketplace, Cornerstone at Branchburg already is popular among active seniors and empty-nesters,” says Joe Del Duca, partner and director of affordable housing for Walters.

Designed to attain LEED and Energy Star certifications, Cornerstone at Branchburg comprises two three-story buildings situated on 11.7 acres in Somerset County. The first building, offering 75 units, is now 40 percent occupied. Pre-leasing is now underway for the second building.

Apartments include one- and two-bedroom layouts, ranging in size from 700 to 900 square feet.

Rents at Cornerstone at Branchburg are income restricted and available to those who earn 60 percent or less of the area’s median income. Rates are based on the renter’s gross annual income, according to the rent/income requirements chart.

Cornerstone at Branchburg marks the 20th affordable multifamily project completed by Walters.

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