18 new affordable condominiums in Fall River will soon be ready, here is a sneak peak and how you can apply

Details have been announced for a lottery to get your hands on beautiful soon to be completed condo units in Fall River.

In April of last year, MassHousing closed on $5 million in financing through the CommonWealth Builder Program to McPherson Development LLC to develop 18 new condominiums for purchase by moderate-income, first-time homebuyers in Fall River.

McPherson Development is transforming the site of the former St. Louis Parish Elementary School built in 1905 into a new residential community. Nine of the new condominiums on the Bradford Avenue site will be sold to homebuyers earning up to 80 percent of the Area Median Income and nine homes will be sold to homebuyers earning up to 100 percent of AMI.

The vacant three-story school building will be redeveloped into the 18 condos with nine one-bedroom units and nine two-bedroom units. The development is located adjacent to two regional bus line stops and near Kennedy Park and area restaurants and retail stores.

The lottery is for the eighteen 18 affordable units. 9 of these units will be sold at affordable prices to households with incomes at or below 80% of the area median income (AMI), 9 of these units will be sold at affordable prices to households with incomes at or below 100% of area median income. Affordable homes are expected to be ready starting in the Summer of 2025. Units will feature LED recessed lighting with smart wi-fi light switches, mini split AC units, on demand hot water system, a video doorbell system, high end counter tops, contemporary cabinet design, in unit washer and dryer appliances, floating vanities, and more. The community will feature bike storage, security camera system, a mail and storage room, trash chute system, conference room and co-working space, elevator, an elevated outdoor balcony for common use, and 18 parking spaces.

Four 1BR 80% AMI Condos for $188,508 (condo fee: $247/mo.)

Five 1BR 100% AMI Condos for $233,213 (condo fee: $329/mo.)

Five 2BR 80% AMI Condos for $212,075 (condo fee: $278/mo.)

Four 2BR 100% AMI Condos for $262,520 (condo fee: $369/mo.) 

The Maximum Household Asset Limit is $150,000. Qualified retirement accounts are exempted. 

Public Info Session 

April 28th, 2025 at 6:00 pm via Zoom 

Go to zoom.com/join or call (646) 558-8656 and enter Meeting ID: 818 9317 7595, Passcode: 088159 

Application Deadline 

May 20, 2025 at 2:00 pm 

Completed Applications and Mortgage Pre-Approvals must be received by this date. 

Lottery 

June 3rd, 2025 at 6:00pm via Zoom 

Go to zoom.com/join or call (646) 558-8656 and enter Meeting ID: 857 2736 5609, Passcode: 276410 

For lottery information and applications, or for reasonable accommodations for persons with disabilities, click here. You can also call (617) 782-6900 x2 and leave a message, email at info@sebhousing.com or postal mail SEB Housing, 257 Hillside Ave., Needham, MA 02494. Free translation available. Traducción gratuita disponible.