Moderate Income Homeownership Opportunity, Lexington, MA
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New Construction, 2Bedroom Townhouse Condominium, Unit 19, $549,700
Lexington Meadows, 840 Emerson Gardens Road, Lexington MA 02420
Please read the flyer & application for more details.
The key milestones for this housing opportunity:
- Application Period opens Thursday June 1, 2021
- Open House Tuesday July 13, 2021 5 pm
- Information Session Wednesday July 14, 2021, 7 pm, https://us02web.zoom.us/j/3497197633
- Application Deadline Tuesday August 3, 2021, 1 pm
- Lottery Wednesday August 18, 2021, 7pm
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.
Project description
The Lexington Meadows development is a 21-unit development located within 5 buildings on 11 acres at 840 Emerson Gardens Road, the prior location of a nursing home. The development was issued a zoning permit by the Lexington Planning Board under the Lexington Special Permit Balanced Housing Development in April 2020.
The property contains wetlands and Munroe Brook, along with direct access to Arlington Great Meadows, and further includes one moderate housing unit, storm water management system, open space and landscaping, in addition to associated site improvements.
This material describes Unit 19, the moderate-income restricted unit, priced for a household earning 150% of the Area Median Income, as further described, and the purchase process.
The townhouse is approximately 1,649 square foot, which includes the basement, first and second floors. There is a tandem parking for two cars. There is central Air Conditioning with programmable wi-fi thermostats, a split HVAC system, propane gas fired forced hot air system with two zones, and an electric water heater.
The main floor has an open layout that seamlessly blends the living and dining spaces with hardwood floors and trimmed with crown molding, and includes a powder room and adjoining deck, as well as stainless steel appliances (gas-fired range, dishwasher, fridge, microwave) . The second floor has the washer/dryer connections, master bedroom (with en-suite bath and walk-in closet) and second bedroom, as well as another full bath.
The home includes some choices from the builder’s selection for countertops, cabinets, lighting allowance, and other options.
The monthly Condominium fees are $271. This fee represents a proportional share of the total condominium expenses covering landscaping and snow removal for the common areas, water/sewer/utilities for the common areas; insurance and contribution to reserve. The homeowner is responsible for all other maintenance, and also pays monthly real estate taxes of $659 monthly (using 2021 tax rate of $14.39).
Note: There are currently States of Emergency at the State and Federal levels related to Covid-19. People are encouraged to utilize social distancing and limit contact with people to reduce the potential spread of the virus. Showing these properties to lottery winners may be limited, but efforts will be made to show the properties virtually. More details about the purchase process will be provided to winners following the lottery.
Please contact the agent below for any questions or to submit your application, either by hardcopy in the mail or email:
Lara Plaskon
Regional Housing Services Office
37 Knox Trail, Acton, MA 01720
(978) 287-1092