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Holliston Housing Trust Sells Affordable Condominium

by Greg Carey
April 7, 2013


The Holliston Housing Trust (HHT) announced that it has renovated and sold a two bedroom condominium, located on Burnap Road in Holliston, as an affordable housing unit. 

The HHT acquired the condominium from the Town of Holliston in 2012 after the Town had foreclosed on the property for unpaid real estate taxes. 

The Trust awarded a contract to complete extensive renovations at the condominium to the Holliston Housing Development Corporation (HHDC), a not for profit corporation based in Holliston that was involved in the development of Cutler Heights.  A public lottery was held earlier this year and the buyer was selected from the lottery.  As an added benefit, the selected buyer was a local family which was not a requirement of the program.  The purchase price for the affordable condominium was $59,900.   A deed restriction placed on the property will ensure that the condominium remains an affordable unit in perpetuity. Proceeds from the sale of the unit will be reinvested in other Trust sponsored initiatives.  

“The Trust is delighted to have created this affordable housing unit, which will be added to the Town of Holliston’s affordable housing inventory,” stated Bryan Clancy, Chairman of the Holliston Housing Trust.  “We are especially grateful to the Board of Selectmen, as well as Sam Tyler and the Holliston Community Preservation Committee, without whose support and funding for this project would not have been possible.”  Clancy also credited the HHDC with completing construction renovations of the housing unit on time and on budget, for successfully managing the housing lottery selection process and for working with the buyer to complete the sale.

The Holliston Housing Trust was established in 2010 for the purpose of preserving and creating affordable housing in Holliston for the benefit of low and moderate income residents.  The Trust currently has a cash grant program available to qualified low and moderate income residents interested in homeownership.  For more information about the affordable homebuyer’s grant program, contact Beth Rust at rustb@sudbury.ma.us, or call 978-639-3388 or visit the website at http://sudbury.ma.us/departments/HousingTrust/news3987/ for more information.

 

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