New condominiums to be built on Montague Road in Amherst

AMHERST, Mass. (WWLP) - MassHousing has announced $9.9 million in funds to create 30 new homeownership opportunities in Amherst. 

The money is coming from the CommonWealth Builder Program  and will create 15 duplex buildings for moderate-income, first-time homebuyers. The homes on Montague Road will create 18 new two-bedroom units and 12 three-bedroom units. 

Ten of the units will be restricted to homebuyers earning up to 80 percent of the area median income, and 20 of the units restricted to homebuyers earning up to 100 percent of the area median income. The homes are expected to sell at prices ranging from $162,900 to $267,000.  

“This project will turn an underutilized area in the town into 30 brand new homes for first-time homebuyers,” said MassHousing CEO Chrystal Kornegay. “The people who purchase these homes will be able to set down roots in Amherst and begin building wealth, along with all the other benefits of homeownership.” 

 “This development is over three years in the making, and we could not be more excited to add affordable homeownership opportunities to the Amherst community,” said Alexis Breiteneicher, Executive Director of Valley Community Development. “Having affordable housing options from rental to homeownership is critical in addressing the housing crisis. Valley is deeply grateful to MassHousing and the CommonWealth Builder program for being committed to decreasing the homeownership wealth gap.”