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18 Franklin Street
Salem, MA 01970
United States
Riverwalk is a residential development located in Salem, just minutes from Downtown. It features 4 buildings with a mix of 2- & 3-Bedroom condos. Riverwalk consists of 37 units, 4 of which are designated as income-restricted and will be sold to households earning at or below 60% AMI or 80% AMI (Area Median Income).
Salem is a coastal hub of rich history, diverse culture, vibrant arts scene, plentiful festivals, specialty shops and acclaimed dining. Conveniently located on the North Shore of Boston, Salem is in the middle of the action only 35 minutes from Boston's North Station on the MBTA commuter rail, 10 minutes to Route 128, 50 minutes to Boston's Long Wharf on the Salem Ferry, and 30 minutes to Logan International Airport.
Property Questions:
What are the condo fees? The condo fees are estimated to be $200-$300/month. These are subject to final pricing and beneficial ownership and will always be less than market-rate fees.
What utilities/services are included in the condo fee? Snow removal, landscaping, master insurance, elevator maintenance & inspection, building maintenance, trash removal, & water/sewer. Owner is responsible for all other utilities, including electricity (heating/cooling, hot water, cooking, & laundry) & cable/internet (optional). Gas is not a utility at this property.
Is the stove electric or gas? Electric.
Are the washer/dryer included? Yes, In-Unit (Electric).
Is parking available? On-site, garage parking is included in the purchase price. Spots aren’t reserved and are first-come, first-served.
Is storage available? Additional, on-site storage is available to purchase for an additional fee (TBD).
When is the lottery? The lottery date will not be scheduled until after the application deadline. The lottery is scheduled, and the lottery date is typically held 2-3 weeks after the application deadline. All applicants will receive notification of the date, time, and location of the lottery, as well as their application number. The lottery will be open to the public.
Do I have to attend the lottery? No. All applicants will be notified of their lottery number after the lottery.
When will I be contacted? We will begin contacting only the top applicants following the lottery drawing.
What is my Application Number and Lottery Number? We will mail a letter to all Applicants entered in the Lottery Drawing, providing their unique application Number. We will mail out a second notification letter after the lottery has taken place. The lottery number is assigned by the person who conducts the Lottery Drawing. Per the Fair Housing Commission guidelines, applications will be sorted by bedroom size and income level, then by preferences, followed by the lottery number. An Applicant’s “rank position” is determined by a combination of all the sorting factors.
Finding the most affordable mortgage can be complicated. We're here to help.