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Richmond Meadows Phase 3 and 4

Contact Leasing Office For Unit Availability!

508-901-9030

ebrady@richmondco.com

Rent

UNIT SIZE70% AMI RENTS80% AMI RENTS110% AMI RENTS120% AMI RENTS
Studio$1,325$1,531$1,850$1,850
1BR$1,511N/A$2,560$2,560
2BR$1,667$1,932$3,182$3,488
3BR$1,823N/A$3,506$3,847
  • *These monthly rents are based on the 2022 HUD income limits. In addition to the monthly rent, Tenants will pay for their own Electricity (Heat, Hot Water, and Cooking are all electric). The Landlord will pay for Water and Sewer charges.

Overview:

The Lottery Date has passed, however, interested households may contact the Leasing Office to request to be added to the waitlists behind lottery households!

Phase III and IV of the Richmond Meadows II Rental Apartment Development Project include twenty (20) AMI restricted rental apartments that are being made available through this lottery application process. The affordable units will be rented to households which qualify across a broad range of income limits related to the area median income in Nantucket, including incomes up to 70%, 80%, 110%, and 120% of the area median income (AMI). The first of these units is expected to be available for occupancy in February of 2023. These 20 affordable 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)

The MAXIMUM Household Income Limits are as follows:

70% AMI Restricted Units

$61,075 (1 person), $69,825 (2 people), $78,531 (3 people)

$87,238 (4 people), $94,238 (5 people), $101,238 (6 people)

80% AMI Restricted Units

$69,800 (1 person), $79,800 (2 people), $89,750 (3 people),

$99,700 (4 people), $107,700 (5 people), $115,700 (6 people)

110% AMI Restricted Units

$104,951 (1 person), $119,944 (2 people), $134,937 (3 people),

$149,930 (4 people), $161,924 (5 people), $173,919 (6 people)

120% AMI Restricted Units

$114,492 (1 person), $130,848 (2 people), $147,204 (3 people),

$163,560 (4 people), $176,645 (5 people), $189,730 (6 people)

Units Remaining

  • 20

Key Dates

  • January 12, 2023: Link to Recording of Info Session: https://youtu.be/Zcb0hEpeQa0
  • February 15, 2023: Link to Recording of Lottery: https://youtu.be/8zBWfLwY--o