Preliminary Sales Price Schedule
Preliminary Sales Price Schedule House Options: The Calabash (20' Townhouse): A 1,200 sq. ft. townhome with 3 Bedrooms and 2 ½ Bathrooms, offering a cozy yet spacious design ideal for modern island living. The Maho (24' Townhouse): A 1,450 sq. ft. townhome with 3 Bedrooms and 2 ½ Bathrooms, featuring a usable rear yard perfect for outdoor dining and relaxation. Sales Pricing Framework The sales prices above are based on a sliding scale tied to affordability targets between 80% and 120%of the Area Median Income (AMI). This framework is designed to balance housing affordability with market realities and development costs. However, final pricing will depend on the structure of the project’s capital stack. If anticipated grant funding or other forms of subsidy are not secured, it may not be possible to offer homes at these target price points. We are seeking guidance from VIHFA to help finalize the pricing strategy in a way that aligns with both the agency’s housing goals and the financial viability of the project. …
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Preliminary Sales Price Schedule House Options: The Calabash (20' Townhouse): A 1,200 sq. ft. townhome with 3 Bedrooms and 2 ½ Bathrooms, offering a cozy yet spacious design ideal for modern island living. The Maho (24' Townhouse): A 1,450 sq. ft. townhome with 3 Bedrooms and 2 ½ Bathrooms, featuring a usable rear yard perfect for outdoor dining and relaxation. Sales Pricing Framework The sales prices above are based on a sliding scale tied to affordability targets between 80% and 120%of the Area Median Income (AMI). This framework is designed to balance housing affordability with market realities and development costs. However, final pricing will depend on the structure of the project’s capital stack. If anticipated grant funding or other forms of subsidy are not secured, it may not be possible to offer homes at these target price points. We are seeking guidance from VIHFA to help finalize the pricing strategy in a way that aligns with both the agency’s housing goals and the financial viability of the project. VIHFA’s input will be key to determining appropriate price points that meet program requirements while ensuring long-term sustainability.