New 70-Unit Affordable Housing Complex Reaches Full Occupancy in Ocean County

Cornerstone at Lacey III offers income-restricted rentals with green building features and community amenities.

Apr. 15, 2026 at 11:21am

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An abstract, out-of-focus photograph depicting a residential neighborhood at dusk, with warm pools of light from streetlamps and windows creating a cozy, inviting atmosphere, conceptually representing the new affordable housing community.The new Cornerstone at Lacey III affordable housing complex brings 70 energy-efficient, income-restricted units to the Jersey Shore region.Forked River Today

Walters has completed the third and final phase of its Cornerstone at Lacey affordable housing development in Forked River, New Jersey, reaching full occupancy of the 70-unit property. The new complex features one-, two-, and three-bedroom apartments with individual entrances, as well as amenities like a playground, grilling areas, and a basketball court.

Why it matters

The addition of 70 new affordable housing units in Ocean County helps address the ongoing need for accessible and sustainable housing options for low-income residents who want to live in the desirable Jersey Shore region. The project's green building certifications also make it an environmentally-friendly option.

The details

Cornerstone at Lacey III is designed to meet LEED and Energy Star standards, with features that promote energy efficiency, healthier indoor air quality, and a smaller environmental footprint. All 70 units are income-restricted, available to renters earning 60% or less of the area's median income. The new complex is located near major highways, schools, shopping, beaches, and medical facilities.

  • Cornerstone at Lacey III reached full occupancy in April 2026.

The players

Walters

A real estate development firm that specializes in affordable housing projects, including the Cornerstone at Lacey community.

Joe Del Duca

Partner and director of affordable housing for Walters.

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What they’re saying

“It's rewarding to see residents settling into these beautiful new high-quality, affordable homes. Expanding access to affordable housing is essential, especially for those who want to live at the Jersey Shore but might otherwise be priced out.”

— Joe Del Duca, Partner and director of affordable housing

The takeaway

The completion of Cornerstone at Lacey III demonstrates Walters' commitment to developing sustainable and accessible affordable housing options in desirable coastal communities, helping to address the ongoing need for low-income residents to live in these areas.