Phases V and VI of the Richmond Meadows II Rental Apartment Development Project comprise adjacent 29-unit and 26-unit phases, which are the final two phases to be built of the total 225-unit rental apartment community which is located off Old South Road in the Town of Nantucket.
This information packet and this lottery specifically relates to the series of fifteen (15) income-restricted affordable apartment units located within these phases of the project, the first of which are anticipated to be available for initial occupancy in late February of 2024.
The fifteen (15) AMI restricted rental apartments that are being made available through this application and lottery process, will be rented to tenants (households) which qualify at up to eighty-percent (80%) of the area median income for Nantucket. The particular unit mix and the specific monthly rents for the affordable units being offered in this lottery are shown in the table below.