A state grant of $525,000 is expected to help build a 24-unit affordable housing project in East Dorset. The Community Development Block Grant is one part of a public financing package for the $4.2 million project.
The plan for 11 buildings on almost nine acres of land calls for a mixed-use, mixed-income neighborhood with four single-family homes and 20 apartments. The town will likely give Dorset residents priority when selling a house or renting apartments. The town has also set aside four apartments for the elderly.
The town has spent more than two years planning for affordable housing.
Meanwhile in nearby Manchester, there’s a boom in high-end housing that’s being fueled by out-of-state second-home owners and telecommuters. The average list price for a house in Manchester and Dorset is now almost $732,000.
Real Estate agent William Hersom predicts the trend will continue as the baby boom generation continues to age. The housing boom in Manchester and Dorset will help drive up housing prices in neighboring communities.