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Marketing of Affordable Housing Units.
From time to time, the Town has available affordable condominiums, as a result of a zoning requirement that any new developments with more than 6 units must provide 15% at an “affordable” price. This means affordable to a household at or below 80% of median income (moderate income household), paying no more than 30% of income for housing. Resale prices for these condos are permanently restricted. While they can be purchased today for $150,000 to $200,000, they can only be resold at a price that will be affordable to a moderate income household in the future.
There are no affordable condos being marketed at this time. We may have a lottery in 2007 for affordable condominium units.. To be notified of future opportunities, send your name and mailing address to Laura Wiener, by phone at 781 316-3091, or via e-mail at lwiener@town.arlington.ma.us.
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