Syracuse Factory Flips to 38 Condos From $127,000
Why These Syracuse Condos Are Affordable: Program, Pricing, and Eligibility How affordable are these Syracuse condos when programs, pricing, and eligibility are weighed? The development uses Workforce Housing incentives to reduce costs 20-30 percent through COR Development and city partnerships. Low-interest financing with Berkshire Bank keeps mortgage rates competitive, supporting a modest down payment for qualified buyers. Eligibility targets households earning 80-120 percent of AMI, roughly $48,000 to $105,000 for families. Single-person incomes around $48,000 meet the minimum. Base prices start at $127,000 for a one-bedroom, $165,000 for a two-bedroom, and up to $240,000 for a three-bedroom. Parking costs $25,000; HOA fees are $250 per month. Sub subsidies include SIDA abatements and seller concessions. First-time buyers have priority for half of the units, with residency prioritized in a local lottery. Energy rebates and affordability credits reinforce the program’s market positio...