The Medway Affordable Housing Trust recently purchased a price controlled condo facing foreclosure in order to preserve its affordability for resale to an income-qualified household.  Prior to the purchase, the 2 bedroom unit had been abandoned and was facing foreclosure and the possible loss of price restrictions accepted as a condition of the unit’s sale under Mass Law, Chapter 40B in 2002.  The bulk of expenditures will be repaid from proceeds of the unit’s resale, and will be matched by a line item in the 2016 budget sponsored by Senator Karen Spilka to create a local earmark for affordable housing in Medway.

It is anticipated that the unit will be advertised for sale in the early fall.  Interested parties can register on the Affordable Housing page of the Town’s website to receive notice of the offer.