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The Affordable Housing Trust unanimously approved executing closing documents for Ticcoma Green, a 64-unit rental project at 6 Fairgrounds Road and 4 Waitt Drive. The Trust is contributing $8.7 million through two loans, supporting 55 affordable and workforce units.
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Ticcoma Green is planned to include 64 rental units, including 12 restricted to households at 30% of area median income, 15 at 60%, and 28 at up to 120%. The Town will ground lease its land for 99 years, and affordability restrictions will remain in place permanently. Loan repayments are expected to begin the year after the project receives its certificate of occupancy, subject to available cash flow.
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