The Lex Residences

93 Bedford Street
Lexington, MA 02420
United States

Price:
$313—345k
Bedrooms:
2—3
Accessible:
No

Property Overview

Property Facts:

Property Type:
Condominium Building
Condo Fees
150-185
Year Built:
2026
Est. Annual Taxes:
$352

The Lex Residences is a 32-unit condominium community, consisting of 30 units within a newly constructed three-story building, and 2 units within a historic house. The new building offers eighteen two-bedroom units and twelve two-bedroom units with an office/den that is an optional 3rd bedroom. The historic two-family home will be renovated to include two one-bedroom residences and a bicycle shed. There will be a newly constructed, free standing exercise pavilion with bathroom for use by residents. The development is within walking distance to Lexington Center and a quarter mile to the Worthen/Bedford Street shopping area and Minuteman Bikeway with great schools nearby.

When complete, the 30-unit condominium building will include 4 affordable dwelling units, 39 underground parking spaces including 2 ADA spaces and 3 EV charger spaces as well as 15 surface level parking spaces.

The four (4) affordable units being offered by way of a lottery will consist of 3 two-bedrooms and 1 three-bedroom as follows:

Unit 102 - 1,642 SF, three bedrooms on first floor level

Unit 204 - 1,413 SF, two bedrooms on second floor level

Unit 209 - 1,420 SF, two bedrooms on second floor level

Unit 305 - 1,420 SF, two bedrooms on third floor level

The four affordable units will include two bathrooms, an open kitchen, an open living/dining area, balcony, laundry room, mudroom and an underground parking space. The Lex is an all-electric building with state-of-the-art energy efficiency features. The interiors will feature modern millwork and solid core doors. The kitchens consist of shaker style painted cabinetry, granite countertops, GE stainless steel refrigerator, dishwasher, electric range and microwave. Flooring will be hardwood in the living and kitchen areas, tile in the bathrooms, and carpet in the bedrooms. Each unit will have its own circuit breaker panel and individual electric meter. Prewiring for one electric car outlet near underground space, outlet installation and car charger supplied/installed by buyer. Switches and outlets will be decora style white. The laundry will include a washing machine and electric dryer.

The purchase price to an eligible buyer for a 2BR is $312,500 and for a 3BR is $345,000 and set to be affordable to a buyer at or below 80% of the Boston Area Median Income. Homeowners are also required to pay monthly real estate taxes, and the Lexington tax rate is $12.25 per $1,000 of valuation. The estimated monthly property tax for a 2-bedroom is $319 and for a 3-bedroom is $352. The condominium fee is currently $150/month for the 2BR unit and $185/month for the 3BR unit, and the Condominium Association has rules and regulations for all owners that describe the operation of the condominium. 

This property is offered at a discounted rate and, as such, this and all future sales of the property will be in accordance with those guidelines and Deed Rider to the unit. This property will be sold below the market price with deed restrictions which protect the property in perpetuity using resale price limitations. 

Property Details

Unit Details

Basement:
No
Appliances:
Dishwasher
Microwave
Refrigerator
Stove/Oven
Washer/Dryer
Listing Garage Parking
Garage Parking:
Yes, there is 1 space available.
Off Street Parking:
Yes, the number of spaces is to be determined.
Heating type:
Electric
Air Conditioning:
No
Flooring Types:
Hardwood, tile, carpet
Pets allowed:
Yes
Pet Restrictions:
Unknown

Eligibility Information

Income limits:
1 person- $92,650, 2 person- $105,850, 3 person- $119,100, 4 person- $132,300, 5 person- $142,900, 6 person - $153,500
Asset limits:
75,000
Must be first time homebuyer:
Yes
Age Restrictions:
No restriction

Application Information

Application Type:
Lottery
Application Deadline:
April 24, 2026
 
Application Process:

Lottery Description:

  1. The application for this housing opportunity will be generally available, including on-line, in hardcopy at the Regional Housing Services Office and Lexington town office, and sent to anyone interested in the lottery. Notice of the lottery will be advertised, and communicated widely through local, regional and state channels.
  2. Applications are to be submitted with all required information by the deadline (April 24, 2026, 1PM) by one of the following methods:
    1. Mail: Applications can be mailed to:

      Jenicia Pontes

      Regional Housing Services Office

      Knox Trail, Acton, MA 01720

    2. Dropped off at the office: Applications that are dropped off at the office located at 37 Knox Trail, Acton, MA  should be placed in the big black metal mailbox outside the RHSO office building.
    3. Emailed: Applications may also be emailed to JenP@rhsohousing.org . If emailed, accompanying documentation must be compiled such that the total submission email/s has no more than 5 attachments, with the applicant consolidating the information. Applicants are encouraged to complete the checklist as an aide to the process.
    4. SharePoint link: You may also contact Jen at JenP@rhsohousing.org for a SharePoint link where you can upload your documents. All requests for a SharePoint link shall be sent by April 22, 2026.
  3. The applicant’s household size will be determined from the application, and the required number of bedrooms as indicated on the application. Priority shall be given to households requiring at least the number of bedrooms in each unit. Smaller households are encouraged to apply.
  4. The maximum gross household income will be verified and compared to the HUD 2025 published income limits. 

        1 person- $92,650,  2 person- $105,850, 3 person- $119,100 

        4 person- $132,300, 5 person- $142,900, 6 person - $153,500

  1. Assets: Household assets shall not exceed $75,000 in value for the affordable unit. Assets include, but are not limited to all cash, cash in savings accounts, checking accounts, gifts, certificates of deposit, bonds, stocks, cash value of retirement accounts, value of real estate holdings and other capital investments. The value of necessary personal property (furniture, vehicles) is excluded from asset values.  Assets that are included conform to the guidance from EOHLC and include retirement and pension funds amounts that can be withdrawn, less penalties or transaction costs.
  2. Eligible applicants must be a First-time Homebuyer. This is further defined as a household that has not owned a home within three years, including in trust, preceding the application, with the exception of displaced homemaker, single parents and senior households (at least one household member is 55 or over). Any previously or currently owned home must be sold prior to purchase of the affordable unit.  

-A displaced homemaker is an individual who is an adult, who has owned a home only with a spouse, who is legally separated from a spouse, and who does not currently own the home previously owned with a spouse. 

-Single parents are individuals who owned a home with his or her partner or resided in a home owned by the partner and is a single parent (is unmarried or legally separated from a spouse and either has 1 or more children of whom the individual has custody or joint custody, or is pregnant); 

-Additional exceptions are made for households that owned a principal residence not permanently affixed to a permanent foundation, and households that owned a property that was not in compliance with State, local or model building codes.

-Eligible applicants cannot own residential property, whether for primary, secondary or investment purposes.

  1. Persons must submit all the necessary information by the application deadline. Late applications (applications mailed and/or received after the above date) and applications that are incomplete will not be accepted. No faxed or emailed applications will be accepted.
  2. All applicants will be screened for eligibility. Applicants who have been deemed ineligible will be notified in writing of the decision and given time to contact the lottery agent in writing to disagree with the determination and provide documentation to support the dispute.
  3. Once the Lottery Agent has verified the information contained in the application and confirmed eligibility, a lottery number or numbers and lottery form will be issued, and the applicant will move forward to the lottery.
  4. A final lottery eligibility letter will be mailed to each applicant indicating their final eligibility determination and the lottery specifics (date/time).
  5. The lottery numbers will be pulled randomly in a public setting via online Zoom meeting. Lottery numbers will be assigned a number in the sequence in which they are drawn and recorded in the order of selection on the Lottery Drawing Lists.
  6. Once the tickets have been randomly drawn and listed in the drawn order, the units are then ranked based on bedroom size. The top ranked household needing at least the number of bedrooms in the unit will be offered the opportunity to purchase the unit. The household size preference shall be given to households based on the following criteria.
    • There is at least one occupant per bedroom.
    • A husband and wife, or those in a similar living arrangement, shall be required to share a bedroom.
    • Other household members may share but shall not be required to share a bedroom.
  7. The list of numbers drawn and corresponding rankings will be shared, and notification letters will be mailed to selected applicants and the winner within three business days.
  8. The lottery agent shall maintain all Lottery Drawing Lists. In the event that any of the applicants withdraw for any reason, or do not comply with the guidelines, the next qualified applicants in the lottery pool ranked by bedroom size need, will be offered the unit.
  9. As the Monitoring Agent, EOHLC will then review the buyer's income, assets and other criteria before the buyer can proceed to purchase the unit. Approved applicants will be given 5 days to agree to purchase the unit before the next person can be offered the opportunity.
Application Documents:
Monitoring/Lottery Agent or Property Manager
Regional Housing Services Office (RHSO)
Contact
Jenicia Pontes