Affordable Housing Lottery, 2 two-bedroom units, $178,700
Below information for the lottery for two units of new construction at Maynard Road Homes condominium development in Sudbury, MA, including eligibility requirements, the selection process, and a lottery application.
The key milestones for this housing opportunity:
- Application Period opens July 10, 2017
- Application Deadline August 14, 2017, 1 pm
- Lottery August 31, 2017 7pm, 2nd Floor Conference Room, Flynn Building, Sudbury MA
This application is a first step in the lottery process and does not assure you a home. Applicants must secure approval for a mortgage loan and submit evidence of such approval together with the application.
Please contact the agent below for any questions or to submit your Application:
Sudbury Housing Trust 278 Old Sudbury Rd Sudbury, MA 01776
The Maynard Road Homes development is under construction on a 1-acre site located on Maynard Road in Sudbury, MA. The units being sold in this project are made available through a Chapter 40B permitted project with MassHousing as Project Administrator. The total project consists of 3 condominium units and 2 units are offered through this lottery.
These are zero energy homes: super insulated walls (12″ thick) and roofs, very well sealed or no air leakage, triple-glass pane windows, slab on grade over 4″ thick of rigid insulation. These features substantially reduces the amount of heat/cooling needed.
The units have two floors of living space in approximately 1,150 square feet. The first floor has a kitchen, living, dining room and ½ bath. Upstairs is a full bath and two bedrooms. Air conditioning is included. The units are equipped with electric stove, Energy Star refrigerator and Energy Star dishwasher, with microwave and washer dryer hookups. Each unit has patio and reserved parking.
In accordance with the State guidelines, the initial purchase prices are established so that a household is not required to spend more than 30% of the 70% of the Boston Area Median Income (AMI) monthly for housing costs.
The 2BR units (276 and 278 Maynard Road) will be sold for $178,700 to eligible applicant households selected by lottery. The 2BR units will have a Condominium Association fee of $245 per month.
In addition to mortgage principal, interest and Private Mortgage Insurance payments, homeowners should expect to pay monthly housing expenses of property taxes and condominium association fees. Property owners will be expected to pay property taxes of $17.74 per $1000 of purchase price, using 2017 tax rates, or $264 monthly.