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The original item was published from 8/2/2021 4:17:25 PM to 8/3/2021 9:57:28 AM.
Board of Selectmen
Posted on: August 2, 2021
[ARCHIVED] Affordable Housing Lottery
Medfield Affordable Housing Lottery for Chapel Hill Landing, Hospital Road, Medfield (3 BR ownership units):
The affordable units will be sold to qualifying applicants with incomes at or below 80% percent of the area median income. Sale price is $323,700. Condo fee is $95 per month.
The key milestones for these housing opportunities:
Application Period opens 7/26/2021
Information Workshop 9/1/2021
Application Deadline 9/29/2021
Chapel Hill Landing is a 49 unit condominium community consisting of single family homes, duplexes and triplexes. Thirteen of the units are affordable offered to eligible first time homebuyers (exceptions apply). Nine affordable units were awarded at the first lottery in June, 2019. The remaining 5 units will be awarded at this second lottery 1 of which is detached and 4 are attached duplex-style. The project is located on Hospital Road with unit addresses of Sunset Way. The affordable units include 3 bedrooms and 2 full baths. The detached unit has a 2-car garage and the duplex units have 1-car garages. The detached unit is approximately 2,300 s.f. and the duplex units are approximately 2,200 s.f. Appliances include a refrigerator, stove/oven, dishwasher and microwave, and laundry hookups.
Affordable units will be indistinguishable from market rate units on the exterior. Interior rooms, bathrooms, finishes, etc. may differ.
All units are sold in accordance with state DHCD Guidelines. The initial purchase price was established so that a household earning 70% of the Boston-Cambridge-Quincy, MA-NH HUD Metro FMR Area Median Income (AMI) would not spend more than 30% of its gross income for housing costs. These properties are sold below the market prices with deed restrictions. These restrictions maintain the affordability of the property in perpetuity using resale price limitations.
More info in the application:
Questions may be directed to the Lottery Agent Kristen Costa, L.A. Associates, Inc., 11 Middlesex Ave., Suite 5, Wilmington, MA 01887
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