Rose Court - Danvers, MA - Affordable Housing Units
Rose Court is a condominium development located at 360 Andover Street in Danvers.  This attractive development will consist of two separate buildings of thirty-six units each.  The buildings will be constructed around a grassy central area that will include a "clubhouse" for the owners' use.  Surface parking for two cars for each owner will be located at the outside edges of the buildings.  A limited amount of indoor parking will be available to market owners at an additional cost.
Each building will have a variety of one, two, and three bedroom affordable units.  All of the two and three bedroom affordable units will have two baths and range in size from 1065 square feet to 1485 square feet.  The two available one bedroom affordable units will be 893-1098 square feet and have one bath.  All units will have gas heat, all kitchen appliances except for refrigerators, and standard amenities.  Both buildings will have elevator service and emergency stairs.
The affordable price for a one bedroom unit is $165,000, a two bedroom unit will be $185,000, and the three bedroom unit will be $202,000.  These prices are substantially lower than the prices for the market rate units.
The condo fees for the affordable units will be determined upon the size of the units.  The fees are scheduled to be $114 (one bedroom), $136 (two bedrooms), and $150 (three bedrooms).  There will be a total of one 3-bedroom units, fifteen 2-bedroom units, and two 1-bedroom units.
The lottery for the first building with nine affordable units was held on 6/12/13.  There are still some affordable units available so applications will be accepted on a first-come, first-serve basis for this building. The units are expected to be ready for occupancy in December 2013.  The units in the other building will be ready for occupancy in July 2014.  Applications are also being accepted for this building on a first-come, first-serve basis.
Rose Landing is convenient to major highways and transit systems in the Danvers area.

Deed Rider (PDF — 409 KB)
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