Lottery Now Open For Affordable Units At Wayland's Alta Oxbow

WAYLAND, MA — A lottery for affordable units at the new Alta Oxbow apartment complex along Route 20 opened this week, offering 55 units at the development at a discounted rate.

Alta Oxbow, previously known as River's Edge, has been in the works for about a decade. The developer, Wood Partners, estimates the first building — restricted to people over age 55 — will open in July, followed by two other buildings with no age restrictions by the fall.

Local residents who meet income guidelines can enter the housing lottery. The affordable units are open to individuals or households that earn less than 80 percent of the Wayland median income: about $70,000 per year for individuals, and $80,000 for two-income households. By comparison, a person working full time in Massachusetts earning minimum wage would earn just over $27,000 per year.

The affordable units will rent for $1,693 for a one-bedroom and $1,858 for a two-bedroom. The developer has not yet listed market rate prices for Alta Oxbow. According to RentCafe, the average rent in the Boston area as of this week was $3,634 per month, and more than 90 percent of apartments rent above $2,000 per month.

Applications for the housing lottery are due by May 6, and 39 of the units will be set aside for Wayland residents, town employees and families of students who attend Wayland Public Schools — including METCO students. Apply online here.