Applications are now being accepted for a 3-bedroom, 2-bathroom condominium located at 4A Cragmore Road in Newton Upper Falls. This unit is part of an 8-unit development and is a permanently affordable, deed-restricted unit. The condominium fee is currently $108 per month, and the buyer will also pay an estimated $10.18 per thousand (or $243 per month) in property taxes. The unit will be made available through an application and lottery process and sold to a household with income at or below 80% of the Area Median Income (AMI).
Maximum Household Income Limits:
- 1-Person Household: $82,950
- 2-Person Household: $94,800
- 3-Person Household: $106,650
- 4-Person Household: $118,450
Buyers are required to have funds for the down payment and closing costs, and be pre-qualified for a mortgage to purchase the unit. The City is offering a grant of $10,000 to assist with down payment and closing costs for the purchase of this unit for eligible applicants.
The application period opened on Monday, February 12, 2024, and the deadline to submit is Thursday, March 7, 2024 at 1PM.
There will be an open house at 74B Webster Park on Saturday, February 24 from 2PM-4PM. The Lottery will be held on Thursday, March 28, 2024 at 4PM via Zoom.
For more information, contact Malcolm Lucas, Housing Planner, at mlucas@newtonma.gov (preferred) or 617-796-1149.
