Boston looks to sell 250 lots for contractors to build affordable homes
Homes must be sold at prices aimed at middle-income buyers
Feb. 13, 2015
Boston is offering 250 small, city-owned lots for sale to contractors to boost the city’s shrinking inventory of homes for first-time buyers. The lots are designated for homes aimed at families earning between $60,000 and $100,000 a year.
Each lot is large enough for a single-family home or duplex, and the city expects the sale to yield 350 homes, two-thirds of which must be sold at prices that middle-income buyers can afford. The new owners will be restricted from raising the home prices at resale by more than 3% a year.
