Affordable Housing Opportunity!

See the full Glen St flyer here

Get all the information on eligibility and how to apply, including the application here

Información sobre la oportunidad de ser propietario de una vivienda y cómo solicitarla en español

Informações sobre a oportunidade de adquirir casa própria e como se inscrever em português

Enfòmasyon sou opòtinite pwopriyetè kay la ak sou fason pou aplike an kreyòl ayisyen

The Somerville Community Corporation is pleased to announce the sale of a total of eight (8) deed restricted condominiums to income eligible, first-time homebuyer households at a below market price with support from the City of Somerville Community Preservation Act. Four 2-bedroom units will be offered to households earning at or below 80% of the Area Median Income (AMI). One 2-bedroom unit and one 3-bedroom unit will be offered to households earning at or below 100% of the AMI. And two 2-bedroom units will be offered to households earning at or below 110% of the AMI

The building is located between Union Square and Assembly Row with shopping and restaurants right at your fingertips. It is also only 700 ft from the future Washington Street Green Line Stop and walking distance to neighborhood schools. 

Units have extra high ceilings, oversized windows, modern white kitchen cabinetry, stainless steel appliances, laminate wood flooring, tiled shower/bath combo, in-unit laundry, and private patio or balcony. All units include one parking space per unit. The parking spaces cannot be sold separately from the unit. Seven of the units are two-bedroom, and are only available to households with a minimum of a two people. One unit is a three-bedroom, and is only available to households with a minimum of three people. These units are adaptable and will be ready for occupancy upon closing, which is anticipated for Spring 2021.

Unit Information1 and Sales Prices 

Floor 

Unit # 

Bedroom Count 

Minimum Household Size 

Square Feet 

% AMI 

Sales Price 

Monthly Condo Fee2 

Estimated Taxes3 

Minimum Required Down Payment 

101 

780 

110 

$397,300.84 

$208.38 

$334.00 

$19,865.04 

102 

780 

110 

$397,300.84 

$208.38 

$334.00 

$19,865.04 

103 

1285 

100 

$399,100.00 

$229.00 

$336.00 

$15,964.00 

104 ADA4 

1185 

80 

$277,000.00 

$172.00 

$233.00 

$8,310.00 

203 

780 

80 

$277,000.00 

$172.00 

$233.00 

$8,310.00 

204 

705 

100 

$342,000.00 

$198.39 

$288.00 

$10,260.00 

302 

820 

80 

$277,000.00 

$172.00 

$233.00 

$8,310.00 

303 

785 

80 

$277,000.00 

$172.00 

$233.00 

$8,310.00 

1 Certain units will be designated as local preference units – Residents of Somerville and people who work full time in Somerville will be given preference in the lottery for units with a designated local preference. There will no preference for Somerville residents or people who work full time in Somerville for units not designated as having a local preference. 

2 Monthly condo fees are set for the initial year but are subject to change thereafter by the 163 Glen Street Condo Association. The fees are based on the condo budget and percentage interest associated with the value of the home.  

3 This is a monthly estimate for taxes. Households are eligible to apply with the City of Somerville’s Assessing Department for an exemption after residing in this unit and filing taxes there. With an exemption your taxes will decrease according to then current rate. For fiscal year 2019 the residential tax rate proposed is $10.09 per thousand dollars value. The condominiums are not a market rate unit and will not be valued according to the market, but instead according to the below market rate price listed in the table above. For more information on taxes, contact the Assessing Department. 

4 This is an ADA accessible unit and meets Group 2 accessibility standards under 521 CMR The Rules and Regulations of the Massachusetts Architectural Access Board. Preference in the lottery for this unit will be given to applicants who provide verification of needing an ADA accessible unit from a healthcare provider. 

SEE CONDO FLOOR PLANS

Eligibility Requirements: 

    • Households must meet the household size requirements 
    • Household income must exceed the minimum gross annual income requirement and be below the maximum gross annual income limit for that unit 
    • Household assets must be below the asset limit 
    • Households must get a pre-approval letter for a 30-year, fixed mortgage 
    • All members of the household must be first time homebuyers 
    • Heads of household cannot be full-time students

Virtual Information Sessions:

Application Deadline: Thursday, November 19th at 5pm 

Virtual Lottery: Thursday, December 3, 2020 at 11:00 AM 

View the Lottery here: http://bit.ly/163GlenLottery 

Application materials and information are here 

Information packets and applications also available at 337 Somerville Ave., Somerville, MA 02143 inside the door on your left.

Applications can be submitting in the following ways:  

    1. Deliver to the Somerville Community Corporation mailbox located on the 1st floor of 337 Somerville Ave., Somerville, MA 02143 on your left when you enter the door.  
    2. Email to abob@somervillecdc.gov  
    3. Mail one week prior to the deadline to ensure it arrives by 5 PM on 11/19/20 
      Attention: SCC Real Estate Department, 337 Somerville Ave. 2nd Floor, Somerville, MA 02143.