Housing Assistance to Open Homeownership Lottery for 46 Condominiums in Hyannis

Virtual Information Sessions Will Provide Details on Available Homes and Lottery Application Process

 HYANNIS, Mass. (Nov. 3, 2026) – Housing Assistance, a Cape and Islands nonprofit focused on addressing housing insecurity for residents, has opened the application process for a homeownership lottery at Cornerstone Hyannis, a new middle-income housing community located at 268 Stevens Street.

 The condos, located within walking distance of Main Street Hyannis, will be sold as primary residences and include a mix of 18 one-bedroom, 27 two-bedroom, and five three-bedroom units ranging in price from $282,800 to $421,550 depending on income level, household size, and eligibility.  Within the 50-unit community, 46 units will be income restricted and four will be market rate. 

 Eligible applicants must be first-time homebuyers (with certain exceptions) and earn no more than 100% or 120% of Area Medium Income (AMI) depending on the unit.  Annual income limits at 100% and 120% AMI, respectively, are $98,900 and $118,700 for one-person households, $113,000 and $135,600 for two-person households, $127,100 and $152,550 for three-person households, $141,200 and $169,450 for four-person households, $152,500 and $183,000 for five-person households, and $163,800 and $196,600 for six-person households.  Eligible applicants must also have no more than $155,000 in assets, excluding IRS-recognized retirement accounts with $250,000 or less, and qualify for a mortgage with a minimum of 3% down payment.

 Interested buyers can review eligibility requirements and complete the lottery application at maloneyproperties.jotform.com/262734701950962.  The deadline to apply is January 2, 2027.  Printed copies are available at Housing Assistance’s offices in Hyannis, Bourne, and Orleans.

 Housing Assistance will hold virtual information sessions to review the available homes, eligibility requirements, and lottery application process during the following times:

• Tuesday, November 10 from 12:00 to 1:00 p.m.
• Thursday, November 12 from 5:30 to 7:00 p.m.
• Monday, November 23 from 12:00 to 1:00 p.m.
• Wednesday, December 2 from 12:00 to 1:00 p.m.
• Tuesday, December 8 from 5:30 to 7:00 p.m.
• Saturday, December 12 from 10:00 to 11:00 a.m.

 Interested applicants can register for an information session at cornerstonehomescapecod.com/info-sessions/.

 “Cornerstone Hyannis is the first project under the Cornerstone Homes Cape Cod initiative, which we launched to create attainable, high-quality homes for middle-income buyers,” said Alisa Magnotta, CEO of Housing Assistance.  “We know that so much of our workforce commutes over the bridges each day because they can’t afford to buy a home here, even with a good salary.  These homes will help more residents put down roots and build financial stability so that they can continue to live and work on the Cape for years to come.”

 Email CornerstoneHomes@ACRESCompliance.com with any questions.

 About Housing Assistance

 Housing Assistance has provided a spectrum of services to help our homeless and vulnerable neighbors secure a safe, stable place to call home since 1974. These programs and services include homeless outreach, family shelters, rental vouchers, affordable housing development, energy efficiency programs, and first-time homebuyer support. Housing Assistance also works to address the root causes of housing instability – lack of inventory and lack of affordability – that affect almost all income levels in our region. To learn more, visit www.haconcapecod.org.