Wenham trust, for first time, markets affordable homes

Published in the Globe North today, the article by David Rattigan highlights the Wenham Municipal Affordable Housing Trust's homebuyer program.  JM Goldson is assisting with the sale of the first two units in the program under the Commonwealth's Local Action Unit program, administered by the Department of Housing and Community Development. As the article describes:

The homes are being sold to first-time buyers for $75,000 to $100,000 less than market value, said Martins, and work to improve the properties has been done.

“You wouldn’t be able to tell that [the units are] subsidized,’’ she said.

In marketing the property, Wenham is taking a proactive approach to its goal of increasing its affordable-housing stock to 10 percent of total housing units. Maintaining 10 percent of all units as affordable is one way that a town can maintain zoning control if developers seek to build under Chapter 40B, the legislation governing affordable housing in the state. Developers can bypass many local zoning requirements if they build in a municipality with an inadequate supply of affordable units.