CHATHAM, N.J. — Walters has broken ground on Cornerstone at Chatham, a 63-unit affordable community in Chatham. The project is being developed through a partnership between Walters and Chatham Township. Walters was awarded a 9 percent Low Income Housing Tax Credit. Cornerstone at Chatham will comprise three buildings and offer one-, two- and three-bedroom units. Units will be available to tenants earning at or below 60 percent of the area median income. Rental rates will be based on the renter’s gross annual income, according to the rent/income requirements chart. The project is situated on a 3.2-acre site formerly occupied by a defunct restaurant. Cornerstone at Chatham is expected to open for residency in late spring of 2024. Completion of the entire property is slated for the fourth quarter of 2024.