News Flash

Andover News

Posted on: July 9, 2019

Riverside Woods Senior Residential Community - Affordable Homeownership Lottery Information

Riverside Woods Flyer

Riverside Woods, a 186-unit senior residential community located at 459 River Road will hold a lottery in September 2019 for 8 affordable units to be purchased by eligible home-buyers age 62 and over with incomes at the 60%, 80% and 120% of medium income.

The units are priced as follows:

Median Income Limit

Up to 60%

Up to 80%

Up to 120%

1 Bedroom

$119,800

$175,200

n/a

2 Bedroom

n/a

$196,600

$321,600

 

The monthly condo fees are $130 for a one bedroom unit and $150 for a two bedroom unit.

An open house will be held from 10:00 am to 12:00 pm on Saturday, August 3, 2019 (meet at the Riverside Woods Clubhouse.)

A public information session to answer specific questions and provide an overview of the lottery process will be held at 6:30 pm on Tuesday, July 30th at the Riverside Woods Clubhouse at 459 River Road. 

The application deadline is September 6, 2019.

Applications and additional information can be obtained by clicking here Riverside Woods Lottery Information and Application, in person in the Office of Community Development and Planning at the Town Office Building or online at www.mcohousingservices.com .


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