Shovels are in the ground on a new path to homeownership in Burlington.
Construction has begun on the Shale Beach Condominiums, which will bring 30 permanently affordable homes to the Cambrian Rise neighborhood in the New North End, WCAX reports.
The project is part of Champlain Housing Trust's shared equity program: the trust keeps the land, buyers purchase the home at a reduced price, and the appreciation is shared on resale so the home stays affordable for the next family.
Anticipated pricing for the two- and three-bedroom units is $175,000 to $210,000. Next door, the recently completed 100 Cambrian Way is set to welcome residents next month.
Source: WCAX. Read the original article.
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Photo: "Burlington Aerial I (20090128522)" by formulanone from Huntsville, United States, via Wikimedia Commons, licensed under CC BY-SA 2.0. Cropped and resized from the original.