Ocean Acres, Barnegat, NJ
This exciting residential development of luxury single-family homes is located in the historic town of Barnegat, New Jersey, just minutes from Long Beach Island. Ocean Acres consists of 1,350 buildable lots of which Walters is the majority lot owner. Construction is currently underway on the Colonial and Ranch-style homes, which will be built in phases over 10 years. The home designs feature bright and airy spaces with large windows and an open flow from room to room. The minimum design has three bedrooms and two baths, with two-car garages and soaring two-story entryways. Prices begin in the mid $200,000s with floor plans as large as 3,100 square feet.
Ocean Acres is a public/private partnership, which incorporates smart growth initiatives and protection of the New Jersey Pinelands through development within designated regional growth areas. Walters became involved in 1998 when it purchased the development rights and began acquiring individual lots. Consequently, the company was designated to develop the project's infrastructure, including roads, sewer, water, and utilities at an estimated cost of more than $50 million.
To date, Walters has invested several million dollars on planning, design, and engineering studies for Ocean Acres. Additionally, they have been working with The Pinelands Commission and the Township to define acreage eligibility for development and conservation areas of the project. Walters reached an agreement with the Pinelands Commission in 2003 that involved protection of rare plants and endangered animal species (primarily snakes) and an expansion of the conservation zone. Approximately 40% of Ocean Acres' designated development will remain in its natural state.