Construction On 63-Unit Housing Begins In Chatham Township

CHATHAM, NJ — Earlier this year, a long-standing building in Chatham Township was torn down as part of a new housing construction project approved by the township committee two years ago.

The sale of 522 Southern Boulevard, also known as Charlie Brown's property, was agreed upon by Chatham Township and the property owner, Kronos Holdings, LLC, in 2021.

What was previously the restaurant site will soon be transformed into affordable housing units as part of the township's third-round element of affordable housing, which it agreed to in December 2018 in litigation with the Fair Share Housing Center.

This week, it was announced that Walters, an award-winning developer based in Barnegat, has broken ground on that project, now dubbed "Cornerstone at Chatham," a 63-unit premium income-restricted apartment community.

Walters currently projects the new development to be ready for occupancy beginning in late spring 2024, however, completion of the entire property is slated for the fourth quarter of 2024.

“Residents will enjoy modern features and amenities while living in the historic and quaint small town of Chatham,” said Joseph Del Duca, partner and director of Affordable Housing for Walters.

Because there is limited developable land in Chatham, the three-building community is being built on a 3.2-acre site that was previously occupied by Charlie Brown's Fresh Grill.

Due to its central location, future residents will have easy access to jobs, shopping, and recreational amenities. Chatham Mall and Hickory Square Shopping Center are both within walking distance, as are the municipally owned Nash Park and Shunpike Field.

The housing project is being built thanks to a unique funding partnership between Walters and Chatham Township. As a result, Walters received an extremely competitive 9 percent Low-Income Housing Tax Credit (LIHTC).

According to Del Duca, the town provided the land as well as funding support, including a planned shuttle bus service to the nearby NJ Transit rail station.

The three-building community will feature a mix of one-, two-, and three-bedroom units ranging in size from 807 to 1,343 square feet. Parking will also be available for residents.

Cornerstone at Chatham is being built to meet green building certification, allowing residents to benefit from sustainable, efficient, and resilient housing. There will also be a fitness center, a community room, and an outdoor patio and clubhouse with seating, tables, and gas grills.

On request, a social services coordinator will be on hand, Walters representatives said.

The future apartments will be available to people earning 60 percent or less of the area's median income, officials said.

Another redevelopment project, which will add 245 new homes to the Chatham community, also recently broke ground.

The site plan, now dubbed "The Ivy of Chatham," was initially approved by the borough in 2021 and has been marketed as a luxury apartment complex with a mixture of 37 affordable housing units.