Rental Information for “Cornerstone at Chatham” Affordable Housing Development
As part of Chatham Township’s commitment to providing affordable housing opportunities, the Township entered into a development agreement with The Walters Group in 2020. As part of this agreement, The Township acquired the property located at 522 Southern Boulevard to serve as the future home of a 63-unit apartment complex. Township residents who have frequented The Hickory Square Shopping Center over the last several months have surely noticed the construction progress on the new apartments. This development, named Cornerstone at Chatham, is composed of sixty-two affordable two or three-bedroom family units for rent. Prospective tenants must submit a preliminary application to determine eligibility and enter the lottery.
The preliminary application can be found by visiting the following link and scrolling down to the “Download Preliminary Application” button: Cornerstone at Chatham – Walters Group Apartments. A sheet listing the acceptable income levels for various household sizes is both available on the same page and can be found at the end of this article. The application itself describes the specifics of eligibility, including household size, income level, credit screening, and other factors.
PLEASE NOTE: THE DEADLINE FOR APPLYING IS 5:00PM ON SEPTEMBER 4TH. NO APPLICATIONS RECEIVED AFTER THIS POINT WILL BE CONSIDERED FOR THE CORNERSTONE HOUSING LOTTERY.
ALL APPLICATIONS MUST BE COMPLETE, INCOMPLETE APPLICATIONS WILL NOT BE ACCEPTED.
THE LOTTERY PROCESS
A random selection, or lottery, will be held for all income-eligible preliminary applications received on or before the deadline. The random selection process will occur on September 12th, 2024. During this process, eligible households will be selected for placement of an affordable housing unit specific to the household income and unit size listed on their preliminary application. One business week after the random selection process, all applicants will be notified via mail on the status of their preliminary application. All new preliminary applications received after the lottery date will be processed on a “first come, first served” basis. This is not a “win-lose” lottery and no one is “chosen,” the lottery simply randomizes the applications received before the deadline and creates the waitlist that is used to start working off of as apartments become available.
VETERAN PREFERENCE PROGRAM
This community has a Veteran Preference Program for up to 13 units; meaning qualified veterans will receive waitlist priority for a two or three-bedroom apartment home. Proper identification, such as a DD Form 214/215 (Certificate of Release or Discharge from Active Duty), or an NGB Form 22/22A (National Guard Report of Separation and Record of Service) will be required to receive waitlist priority.
Cornerstone at Chatham Income Requirements
| Number of Bedrooms/Bathrooms | Monthly Rent | Minimum Gross Annual Income Requirement | Maximum Gross Annual Income Limit |
| 2 Bed / 1 Bath Minimum 2 people, Maximum 4 people. | $784 | $29,623 | $31,920 (2 ppl.) $35,190 (3 ppl.) $39,090 (4 ppl.) |
| 2 Bed / 1 Bath Minimum 2 people, Maximum 4 people. | $1,371 | $49,749 | $52,150 (2 ppl.) $58,650 (3 ppl.) $65,150 (4 ppl.) |
| 2 Bed / 1 Bath Minimum 2 people, Maximum 4 people. | $1,664 | $59,794 | $62,580 (2 ppl.) $70,380 (3 ppl.) $78,180 (4 ppl.) |
| 3 Bed / 2 Bath Minimum 3 people, Maximum 6 people. | $900 | $34,320 | $35,190 (3 ppl.) $39,090 (4 ppl.) $42,240 (5 ppl.) $45,360 (6 ppl.) |
| 3 Bed / 2 Bath Minimum 3 people, Maximum 6 people. | $1,578 | $57,566 | $58,650 (3 ppl.) $65,150 (4 ppl.) $70,400 (5 ppl.) $75,600 (6 ppl.) |
| 3 Bed / 2 Bath Minimum 3 people, Maximum 6 people. | $1,917 | $69,189 | $70,380 (3 ppl.) $78,180 (4 ppl.) $84,480 (5 ppl.) $90,720 (6 ppl.) |
