Affordable Apartment Complex is Coming to Galloway Township

One of the things I hear over and over is how expensive housing is in South Jersey, and no places are renting to people with lower incomes.

Well, heads up on this opportunity.

Cornerstone at Galloway

Construction is underway at Conerstone of Galloway, a complex of one, two and three-bedroom apartments for income-restricted tenants. The developer of the complex is Walters Apartments of Barnegat Township.

Phase one of Cornerstone at Galloway will include 66 units and is slated to be completed in the first quarter of 2026.

The Wrangleboro Road property will have on-site parking and amenities like a multipurpose clubhouse with a modern fitness center, a children’s tot lot, a basketball court, and computer workstations.

Construction for the second phase will begin upon completion of the first, Walters said, noting that the three-phase project will ultimately comprise nine buildings.

“This new community will provide critical housing opportunities to families in Atlantic County,” said Joe Del Duca, partner and director of affordable housing for the Barnegat-based firm.

“As we continue to expand our presence in the state and surrounding region, we are committed to building smarter, sustainable and more inclusive housing.”

 

How Do Income-Restricted Apartments Work?

If you're not familiar with the term 'income-restricted', it means housing that's accessible to people who need it most. That determination is made by setting income caps for residency.

You can't make more than the maximum income amount to qualify.

In this case, according to the news release, Cornerstone at Galloway apartments will be available to residents whose incomes are at or below 60 percent of the area’s median income.

It depends on which municipality they are using to determine the median income. That information has not been disclosed.

For example, the 2023 median income for Galloway Township was $90,622. 60% of that amount is $54,373.

But the median income for Atlantic County in 2023 was $76,819. 60 % of that amount is $46,091.