Sandy Recovery: Seaside Heights Christens New Senior Apartments

SEASIDE HEIGHTS, NJ — Coming over the hill into Seaside Heights, you've no doubt noticed the gleaming new white building at the corner of Hamilton Avenue.

The Cornerstone At Seaside Heights — offering 91 age- and income-restricted apartments in a residential complex — not only replaced run-down buildings in the borough; it is the first funded through Superstorm Sandy recovery funds on a barrier island.

On Monday, town officials, officials with Walters, the builder; and others held a ribbon-cutting ceremony for the formal opening of the building.

The 91-unit building on the corner of Bay Boulevard and Hamilton Avenue was built after several aging buildings, including a former Travel Inn Motel and the Seaside Lumberyard and hardware store, were torn down. Walters officials say the building is state-of-the-art and energy efficient, meeting both LEED and ENERGY STAR standards.

"The borough of Seaside Heights has been a special place for us. We’ve been very welcomed here and I hope that they are as proud of this community as we are," said Joseph Del Duca, partner and director of affordable housing for Walters, the builder. "This is the only community funded through Sandy dollars that has been built on a barrier island, and there is no better place to build it than Seaside which was the dead center of Superstorm Sandy."

"We are pleased to welcome Cornerstone At Seaside Heights which is providing safe, decent affordable housing for seniors," said Katherine Brennan, chief of staff of the New Jersey Housing and Mortgage Finance Agency.

Brennan said it is the sixth project it has partnered with Walters, which is based in Barnegat, to build.

"This beautiful building is HMFA’s latest effort to restore the shore following Superstorm Sandy," Brennan said. "Because we hope that people will live here for years to come, we take into account future climate resiliency. A lot of care went into using wind and impact resistant materials on this property and constructing the building to help protect it and all the people living here."

NJHMFA provided $12.9 million in construction financing as well as $15.5 million in federal Community Development Block Grant Disaster Recovery assistance through the Fund for Restoration of Multifamily Housing. The fund program was created following Superstorm Sandy to provide for-profit and nonprofit housing developers an opportunity to secure zero-interest and low-interest loans to finance the development of affordable housing in the nine counties most impacted by the storm.

Cornerstone At Seaside Heights includes one- and two-bedroom apartment homes which feature high-end amenities such as upgraded interior finishes, kitchens with granite countertops and a full appliance package, washer and dryer, 24-hour emergency service, onsite management and maintenance. In addition, resident activities and events are offered through a social services coordinator. Apartments are still available with prices ranging from $875 to $995 for a one bedroom, and from $1,040 to $1,250 for two bedrooms.

Cornerstone At Seaside Heights is open to adults 55 and older who do not make more than 60 percent of the county's median income. For leasing information, call 732-793-0100. More information is on the Walters website.

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