Affordable Housing Lottery in Wenham

According to the Hamilton-Wenham Chronicle, the town of Wenham is having its first affordable housing lottery, engineered by the Wenham’s Affordable Housing Trust (WAHT).  There are two properties available:

• 105 Pleasant Street - 3-bedroom single-family dwelling on an 8,200 sf lot with 1,260 sf of living space.
• 11 Friend Court #2 - 2-bedroom condominium unit with 1,080 sf of living space on the second floor.

The application process opened on June 16th and closes on Thursday, Sept. 16th at 3:30pm.  Eligibility is determined by income, family size and assets. Only first-time homebuyers are eligible and they must meet the eligibility requirements by providing documentation on income, bank accounts, taxes and mortgage pre-approval; they should also be able to make a down payment and have their financial matters in order.

WHAT chairwoman Molly Martins said that Wenham got into the affordable housing arena to reach the state-mandated percentage of 10% affordable homes to prevent Chapter 40B [affordable housing] developments.  Wenham is at 8.9% affordable housing and requires approximately 13 more units to reach 10%.

The two homes come with perpetual deed restrictions that keep the units affordable. As with most municipal housing programs, Wenham gives preference for first-time home buyers with local ties: current Wenham residents; families with children in the school system; and employees of the town, school district, Housing Authority, and local businesses.

The lottery for Wenham is scheduled for Monday, Oct. 18.  People with questions should contact Wenham’s Housing Consultant Jennifer Goldson at 617-990-4971 or jennifer@jmgoldson.com.

Read the entire Hamilton-Wenham Chronicle.