Affordable Housing Condo for Sale in Newburyport
(Source: By Dyke Hendrickson, The Daily News of Newburyport, Mass.) - Officials in the Newburyport Planning Office are not moonlighting as Realtors, but they do have a property they’d like to sell. Want a one-bedroom for $171,000? Lingering on the city’s website is notification that a one-bedroom residence is for sale at 129 Merrimac St.
The unit is part of a development called The Foundry, which was constructed with about 20 units. This unit is being resold. City officials say some units within the city are deed-restricted as “affordable.” When these units are placed for resale, the Newburyport Affordable Housing Trust, through the city Planning Office, is responsible for helping to find eligible buyers.
Some of the units at The Foundry were created as “affordable,” meaning that they would be made available to buyers with modest financial assets. The unit for sale is currently occupied, but it is available.
“Last year we had numerous properties available, but right now we are down to one,” said Emily Wentworth, planning and zoning administrator for the city Planning Department.
“Our office works with those seeking to offer affordable housing, and this one unit is available.”
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Constructed in 2005, the unit is a single-level, one bedroom, one bath with about 700 square feet. The unit offers gas heat, central air and all appliances. The successful purchaser must be a first-time home buyer.
Because it comes under the heading of affordable housing, the following are income limits for a successful purchaser: one-person household, $44,490; two-person household, $51,400; three-person household, $57,800; and four-person household, $64,200. City officials say that up to $25,000 in down-payment assistance is available. More information can be found on the Affordable Housing (Planning Department) section of the city’s website, under “affordable housing resale opportunities.”
Judy Tymon, chair of the Affordable Housing Trust in Newburyport, said, “We haven’t had too much demand for this property, but we do have a down-payment assistance program for qualified buyers.”
©2012 The Daily News of Newburyport (Newburyport, Mass.)
Visit The Daily News of Newburyport (Newburyport, Mass.) at www.newburyportnews.com
Distributed by MCT Information Services
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