The Manor House development is a development approved by the Lexington Planning Board on June 26, 2014. The project is located on 425-509 Woburn Street in the Town of Lexington, Massachusetts. The site is 1.98 acres, and the project consists of one building that will contain 51 units, of which six will be affordable and sold via lottery.
The units are located on four floors, with underground parking. The units have hardwood floors, and have white appliances (refrigerator, stove top, microwave and dishwasher).
The monthly Condominium fee ranges from $291.50 to $371.44, which represents a proportional share of the total condominium expenses covering landscaping and snow removal, taxes, insurance and contribution to reserve based on the square footage of the unit. The homeowner will also pay monthly real estate taxes using Lexington’s 2017 tax rate of $14.48.
The affordable unit will be offered under the Local Initiative Program (LIP), administered by Department of Housing and Community Development (DHCD), as a Local Action Unit (LAU). Local Action Units are created through local municipal action, in this case via the Town of Lexington’s Special Permit for Planned Residential Developments. Sale prices of LAUs are set so that a household earning 70% of area median income would not expend more than 30% of income for housing.
The units will be available to income eligible first-time homebuyers, with some exceptions permitted under the program, as noted in this application.
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.
|Unit #||#BR||Sales Price||Condo Fee||Square Footage||2017 Taxes|
|250, Style A||1BR, 1.5 bath||$154,400||$292||1081||$186/mo|
|217, Style F||2BR, 2 bath||$167,500||$371||1379||$202/mo|
|221, 238, Style C
206, 233, Style D
|2BR, 2 bath||$170,500||$350||1291, 1301||$206/mo|
The key milestones for this housing opportunity:
- Application Period opens November 3, 2017
- Information Session December 5, 2017, 7 pm, Cary Memorial Building, Estabrook Hall, 1605 mass Ave, Lexington MA
- Application Deadline January 10, 2018, 1 pm
- Lottery January 29, 2018 7pm, Cary Memorial Building, Estabrook Hall, 1605 mass Ave, Lexington MA
Please contact the agent below for any questions or to submit your application:
Sudbury Housing Trust
278 Old Sudbury Rd
Sudbury, MA 01776