Market-Rate Apartment Sales
Sales of the seventy-seven market-rate cooperative units at West End Place are handled through individual real estate brokers, their agents, and the unit’s shareholders. Prospective buyers interested in units currently on the market should contact the real estate agent directly. Once a fully executed purchase and sale agreement has been obtained, it should be sent immediately to the property manager at West End Place to initiate scheduling of the management component of the process. All household adult members of the prospective buyer’s household must complete: a) Housing Application; b) CORI Release Authorization; and, c) Credit Release Authorization. Approval/Rejection of applicant(s) may take up to three weeks after submittal of above forms. (CORI and Credit Authorizations must be signed in the presence of a management staff member upon verification of identification). West End Place utilizes the services of Gilmartin, McGenzie, Camile and Ross for closings.
HOME Program – Affordable Apartment Sales
There are twenty-four HOME Program units at West End Place. The sale price of these unit shares are restricted by the City of Boston’s Department of Neighborhood Development’s HOME Program. In addition, to be eligible to purchase a unit regulated by the program, household income cannot exceed 80% of the median income for the Boston Metropolitan area (adjusted annually). All inquiries related to the HOME Program units should be directed to the Department of Neighborhood Development.
Affordable Apartment Rentals
There are twenty-nine Low Income Housing Tax Credit units at West End Place. These units are regulated and monitored by the Low Income Housing Tax Credit program. The rents are restricted and household income at move-in is restricted to 60% of the area median income for the Boston Metro area (adjusted annually). Rent for tax credit units is not based on the household’s income. As these units are in very high demand and turnover occurs rarely the waitlist is currently closed.
There are fifty-four Housing and Urban Development Section 8 units at West End Place. These units are regulated and monitored by Housing and Urban Development (HUD). The unit rents are based on 30% of the household’s annual income and fluctuate as the household’s income changes. Households cannot earn more than 50% of the area median income at move in for the Boston Metro area as it is adjusted annually. As these units are in very high demand and turnover occurs rarely the waitlist is currently closed.