Bethesda, MD – The developer of the 45-acre Westside at Shady Grove Metro community in Rockville, EYA, will soon make workforce homes available for public sale. In partnership with Montgomery County Department of Housing and Community Development (DHCD), a total of 25 workforce homes will be sold at Westside, of which four are included in initial sales.
The homes are designed to introduce affordable housing in the moderate income range, slightly above the County’s MPDU program, but below what are normally market-rate income ranges.
For example, an eligible family with four persons in the household can earn between $76,500 - $105,000, or up to 90 percent of the area’s median income (AMI). Income brackets for a variety of household sizes have been established and can be found in the Consumer Information Packet.
The initial four homes will be sold at $411,482 for a new-construction, three-bedroom, two and one-half bath residence. Named “The Allen,” the home includes garage parking and a rooftop terrace and will be built to eco-friendly LEED for Homes® standards. Other market-rate residences within the development at Westside range from $574,900 to $819,900.
Interested purchasers may attend one of two information sessions held by EYA this weekend: Saturday, October 17 or Sunday October 18, 2015 from 12 p.m. – 4 p.m. at the Westside at Shady Grove Metro sales center located at 16658 Crabbs Branch Way in Rockville. A lender will be available onsite to assist with pre-qualification. The sales center is also open daily from 11 a.m. to 6 p.m. and interested purchasers may visit anytime or make an appointment by calling (301) 208-1200 or emailing email@example.com.
Applicants who provide all requested documentation to the County by Nov. 2, 2015 will be issued a “Certificate of Eligibility” and may be entered into the “Random Selection Drawing” to determine which purchasers will be offered the opportunity to purchase. A one percent earnest money deposit will be required to enter a sales agreement, in addition to 50 percent of all options. Purchasers have until settlement to make the remaining down payment required by their lender.
EYA expects the homes will be constructed, complete and ready for occupancy in Spring 2016.