For the past 10 years, Walters has been creating premium affordable housing that is 100 percent income-restricted and sustainable. The company has delivered a dozen developments throughout New Jersey, and several more are currently under development. The positive benefits and lasting effects of affordable housing impact both the residents living in the homes as well as the communities in which they are located. Each year, more people struggle to afford living in the communities where they work because of a lack of affordable housing stock. Even older adults who have lived for decades in a community have few opportunities to downsize. Many young adults who want to raise their own families in the communities where they grew up cannot afford “starter homes” today. Affordable housing, however, enables people to live where they choose based on their needs and aspirations. A Princeton University study of affordable housing development in Mount Laurel, New Jersey, found numerous benefits: Families moving into high-quality affordable housing experience a safer neighborhood, lower crime rates, better mental health, strong rates of employment and higher wages. By saving money on rent, families can spend more of their household incomes on essentials such as food and healthcare. The study …
