New Construction – Affordable 1 & 2 -Bedroom Units – Beverly, MA
NEW CONSTRUCTION
Affordable 1 & 2 -Bedroom Condominium Units for the purchase at 50 Balch Street Beverly, MA is being offered via lottery.
Applicants must secure approval for a mortgage loan, submit evidence of such approval together with the application, and be ready to buy.
Key milestones for this housing opportunity:
- Application Period Opens:
Friday, August 7, 2026
- Information Session:
Tuesday, August 25, 2026 – 6:00PM via online Zoom meeting
https://us02web.zoom.us/j/85077140607 - Open Houses:
Wednesday, August 26, 2026 – 5:00PM – 6:00PM
Saturday, September 12, 2026 – 11:00AM – 12:00PM - Application Deadline:
Friday, October 7, 2026 – 1:00PM - Lottery:
Friday, October 23, 2026 – 11:00AM, via online Zoom meeting
*Details for joining meeting provided to eligible applicants via email*
Click HERE for the Application Packet – The packet contains specific information for the lottery, including eligibility requirements, the selection process, and a lottery application.
Click HERE for the Minority Self-Declaration Statement*
*Minority preference categories include only Native American or Alaskan Native, Black or African American, Asian, Native Hawaiian or Pacific Islander; or other (non-White); and the ethnic classification Hispanic or Latino. Requires a separate self-declaration document.
Project description
Beverly Landing by Cummings is a brand-new, age-restricted condominium complex (55+) currently under construction by an affiliated entity of Cummings Properties of Woburn. The project will be available for occupancy in Fall 2026, and the development will ultimately comprise 60 ownership condominium units, including 9 affordable units, in a five-story residential building.
The site is located along the northern edge of Cummings Center, a thriving and diverse commercial hub with restaurants, salons, a large fitness center, and more than 80 healthcare providers. There is a one-mile walking trail circling the scenic Upper and Lower Shoe Ponds, regular daytime bus service by the MBTA and Beverly Shuttle (currently operated by CATA).
The affordable units will have a refrigerator, dishwasher, microwave, electric range, and a laundry hook-up with hot and cold water supply, drain, and ventilation. Owners will be responsible for supplying the washer and dryer. The kitchen area will include laminate countertops with Shaker-style cabinets. The kitchen, living room and bathroom will have vinyl plank flooring, and the bedrooms will be carpeted. Storage rooms are available to rent for $400 – $1,200 annually.
All units will be equipped a dedicated heat pump unit that will provide both heating and air-conditioning. Any purchaser, including the affordable homeowners, will have the right to use up to two non-exclusive surface spaces at no additional charge.
The purchase price to an eligible buyer for a 1BR is $333,400 and for a 2BR is $375,900 and is set to be affordable to a buyer at or below 80% of the Boston Area Median Income. Homeowners are also required to pay monthly real estate taxes, and the Beverly tax rate is $10.81 per $1,000 of valuation. The estimated monthly property tax for a 1-bedroom is $300 and for a 2-bedroom is $339.
The condominium fee is currently $173/month for the 1BR units and $195/month for the 2BR units, and the Condominium Association has rules and regulations for all owners that describe the operation of the condominium.
The condominium fee covers:
Admin Expense: Management Fee, Insurance Expense, Landscaping and Groundskeeping, Snow Plow, Legal, Pest Control, Professional Fees, Fire Sprinkler /Alarm, Elevator, Trash Pickup, Common Electric, Water Irrigation.
This property is offered at a discounted rate and, as such, this and all future sales of the property will be in accordance with those guidelines and Deed Rider to the unit. This property will be sold below the market price with deed restrictions which protect the property in perpetuity using resale price limitations.
We invite you to read this information and submit an application, with the supplemental information. This application can be downloaded from the RHSO website and can be sent to you upon request.
The Regional Housing Services Office (RHSO) will act as the resale lottery agent for this unit on behalf of the City of Beverly.
Please return the application to the RHSO Office at the address below and/or contact the RHSO with any questions.
Jenicia Pontes
Regional Housing Services Office
37 Knox Trail, Acton, MA 01720
(978) 287-1091
JenP@rhsohousing.org
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Este paquete contiene información específica para comprar una vivienda asequible de 2 dormitorios.
本资料包包含购买经济适用型两居室住宅的具体信息。
Pakè sa a gen enfòmasyon espesifik pou achte yon kay 2 chanm abòdab.
Este pacote contém informações específicas para a compra de uma casa acessível com 2 quartos.
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If you need help with this application, please call:
Jenicia Pontes, Regional Housing Services Office
978-287-1091
TTY/TDD Relay 711
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