First-Time Homebuyer Lottery Opportunity - The Pathmark


8/14/2023 • 15 months ago

The City of Cambridge is offering four new affordable condominiums for sale to income-eligible first-time homebuyers through a lottery process. These affordable condos are located at The Pathmark, 97 Elmwood Street in North Cambridge near Davis Square.  

 

The condos offered through this lottery opportunity will serve households earning up to 80 percent of the area median income. The available condos include: one (1) studio unit, one (1) 2-bedroom unit, and two (2) 3-bedroom units. 

 

Interested applicants must complete and submit the online application no later than Monday, September 18, 2023 at 8:00 p.m. 

 

City staff will host a virtual information session on Tuesday, August 22, 2023 from 6:00-7:00 p.m. to provide an overview of the lottery, eligibility requirements, how to apply, and answer questions about this opportunity. Attendance is not required to apply for this opportunity.

 

For more information, visit www.cambridgema.gov/HomebuyerLottery. 

 

Household Income Eligibility Guidelines and Unit Pricing


 Household
Size		 Max. Household
Income
Studio
Condo
(585 sq. ft.)		 1-Person $83,610
2-Persons $95,550
2-Bedroom
Condo
(879 sq. ft.)		 2-Persons $95,550
3-Persons $107,500
4-Persons $119,440
3-Bedroom
Condo
(-1,018 - 1,152 sq. ft.)		 3-Persons $107,500
4-Persons $119,440
5-Persons $129,000
6-Persons $138,550

 


 The Pathmark Unit Pricing

Condo
Sales Price		 Estimated Monthly Housing Costs
Studio
Condo

 $229,000 $1,697
2-Bedroom
Condo

 $294,000 $2,185
3-Bedroom
Condo

 $326,000 $2,425