News Flash

New & Noteworthy

Posted on: December 21, 2022

Affordable Rental Housing Lottery

Signat_5993229E

The Richmond Meadows II (Phases III and IV) Rental Apartment Development Project is comprised of a 48-unit component of two phases of the total 225-unit rental apartment community located off Old South Road in Nantucket.

This lottery is for a series of twenty (20) units of AMI restricted rental apartment units, the first of which are scheduled to be available for initial occupancy in February of 2023. These twenty (20) AMI restricted rental apartments will be made available through this application process, and will be rented to households with the following annual income limits and at the following monthly rents: 

Six (6) Units will be Rented to Households Earning 70% or Less of the Area Median Income (AMI) 

Two (2) Units will be Rented to Households Earning 80% or Less of the Area Median Income (AMI) 

Six (6) Units will be Rented to Households Earning 110% or Less of the Area Median Income (AMI) 

Six (6) Units will be Rented to Households Earning 120% or Less of the Area Median Income (AMI) 

  • 70% AMI Restricted Unit Monthly Rents*: Studio @ $1,325, 1BR @ $1,511, 2BR @ $1,667, 3BR @ $1,823 
  • 80% AMI Restricted Unit Monthly Rents*: Studio @ $1,531, 2BR @ $1,932 
  • 110% AMI Restricted Unit Monthly Rents*: Studio @ $1,850, 1BR @ $2,560, 2BR @ $3,182, 3BR @ $3,506 
  • 120% AMI Restricted Unit Monthly Rents*: Studio @ $1,850, 1BR @ $2,560, 2BR @ $3,488, 3BR @ $3,847 

*These monthly rents are based on the 2022 HUD income limits and December, 2021 HAC Utility Allowances. 

In addition to the monthly rent, Tenants will pay for their own Electricity (Heat, Hot Water, and Cooking are all electric). 

The MAXIMUM Household Income Limits are as follows: 

  • 70% AMI Restricted Units: $57,706 (1 Person), $65,931 (2 People), $74,156 (3 People), $82,381 (4 People), $88,988 (5 people), $95,594 (6 People) 
  • 80% AMI Restricted Units: $65,950 (1 Person), $75,350 (2 People), $84,750 (3 People), $94,150 (4 People) 
  • 110% AMI Restricted Units: $104,797 (1 Person), $119,768 (2 People), $134,739 (3 People), $149,710 (4 People), $161,687 (5 people), $173,664 (6 People) 
  • 120% AMI Restricted Units: $114,324 (1 Person), $130,656 (2 People), $146,988 (3 People), $163,320 (4 People), $176,386 (5 people), $189,451 (6 people) 

A Public Informational Session will be held on January 12, 2023starting at 6:00 pm via Zoom. Go to zoom.com/join or call (646) 558-8656 and enter Meeting ID: 818 9317 7595. Households can view the session in the Community Room of the Public Safety Building at 4 Fairgrounds Road, Nantucket. 

Completed Applications must be delivered, or postmarked, by 2:00 pm on February 6, 2023. Applications postmarked by the deadline must be received no later than 5 business days from the deadline

The Lottery for eligible households for these twenty (20) AMI restricted affordable rental apartments will be held on February 15, 2023 at 6:00 pm (applicants do not need to be present). For Lottery Information and Applications, or for reasonable accommodations for persons with disabilities, go to www.sebhousing.com or call (617) 782-6900 x1 and leave a message.  For TTY Services dial 711. Free translation is available.   Applications are also available at the Nantucket Atheneum Library located at 1 India Street. 

More info: Affordable Rental Housing Lottery
Facebook Twitter Email