Re: Affordable cohousing
From: Sarah Florreich (sflorreichgmail.com)
Date: Sat, 3 May 2008 05:44:01 -0700 (PDT)
1.  The unsubsidized costs are significantly higher (in the upper $200
to upper-$300K range), in other words, market rate for this area.

2.  These are deed restricted so the sale price is set even into the
future by a formula (pretty much the same formula that determines the
initial price - it tracks the growth in median income of the area),
with a little room for cost of capital improvements.  This is required
by the program that they are part of - we didn't have to come up with
a mechanism.

- Sarah


On Sat, May 3, 2008 at 8:33 AM, Rod Lambert <rod [at] ecovillage.ithaca.ny.us> 
wrote:
>
>  Congratulations on your successful effort.
>  A couple of follow-up questions:
>  1.What were the unsubsidized cost of the units?
>  2.Were you able to come up with any procedures to slow the inevitable rise 
> to market value when they resell which typically tends to wipe out the 
> affordable-ness after a few years?
>
>  Rod Lambert
>
>  ---------------------
>  Date: Fri, 02 May 2008 13:40:30 -0400
>  From: Catya Belfer-Shevett <catya [at] homeport.org>
>  Subject: Re: [C-L]_ Affordable Cohousing
>  To: Cohousing-L <cohousing-l [at] cohousing.org>
>  Message-ID: <481B520E.3050209 [at] homeport.org>
>  Content-Type: text/plain; charset=ISO-8859-1; format=flowed
>
>  Hi everyone,
>
>  I wanted to let folks know we just got our prices, and are now able to
>  take applications via our lottery agent, SEB.  you are not required to
>  be a MA resident.  See http://www.s-e-b.com/lottery/forsale.php or call
>  617.876.5919 ext 3
>
>  Prices:
>      * $136,500 for a 1 bedroom home
>      * $149,500 for a 2 bedroom home
>      * $170,600 for a 3 bedroom home
>
>  See you at the conference!
>
>         - catya
>
>

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