Affordable Housing Lottery for 373 Commonwealth Road

WAYLAND, MA - An affordable housing lottery has been announced for units at 373 Commonwealth Road in Wayland.

The Commonwealth Residences Apartment Development is a new 52-rental development offering 13 affordable studio, one, two and three bedroom apartments for eligible tenants, by lottery.

One surface parking spot is available for each unit in the designated tenant parking area at no charge. Garage parking is available for a monthly fee as well as additional surface parking spaces

The rents are not income based or subsidized but Section 8 is accepted at the discretion of the provider. The monthly rents are: Studio - $1,278; One Bedroom - $1,369; Two Bedroom - $1,643; Three Bedroom - $1,899, all utilities included.

• See more information and apply here>>>

A Public Information Meeting will be held to answer specific questions and provide an overview of the lottery process. The meeting is scheduled for Monday, June 27 at 6:30 p.m.at the Wayland Free Public Library, 5 Concord Road.

Language assistance will be available at no charge by appointment. Call 978-456-8388 at least two business days in advance.

The application deadline is July 11. Residents who wish to apply must submit a complete application postmarked on or before July 11 to be entered into the lottery. The lottery is scheduled for Thursday, August 4, at 6:30 p.m. at the Wayland Free Public Library.

LOTTERY APPLICANT QUALIFICATIONS:

• Household income cannot exceed the maximum gross allowable income limits which are: $51,150 for an individual; $58,450 for a household of two people; $65,750 for a household of three people; $73,050 for a household of four people; $78,900 for a household of five people; and $84,750 for a household of six people.
• When assets total $5,000 or less, the actual income received is included in the annual income as income from assets OR when assets exceed $5,000, annual income includes the greater of actual income from assets or a .06 percent imputed income calculation. Included in this package is the List of Required Financial Documentation.
• In addition to income and asset eligibility you will also be subject to a screening by the project and determined eligible based on that basis.
• Persons with disabilities will be given first preference for such units regardless of what pool they are in based on the requested bedroom size. Where a person with a disability is awaiting an accessible unit and a unit with adaptive features becomes available, the owner/management agent must offer to adapt the unit.

See unit information>>>