(Aug. 13, 2015) Application day is Saturday at Cannery Village, where more than 40 new townhouses will be offered for rent in Berlin.
The affordable housing complex on Flower Street broke ground earlier this year and recently set up an office in the Berlin Visitor’s Center.
Osprey Property Company Vice President Andrew Hanson, who is overseeing the project, said response has been strong.
“We had a huge response in the first couple of hours,” he said. “Probably 25 or more people came within hours of opening. Even before we opened the leasing office and put a sign up, we probably had over 200 folks express an interest and we’re really excited about the process.”
Hanson said the applicants have been diverse.
“We’re seeing whole bunch of different folks with different backgrounds, working in different sectors, different ages and different family sizes,” he said. “Some folks are already residing in the area, some folks are commuting from other parts further outside of Worcester County, but work in either Berlin or Ocean City, and they’re excited to be able to get closer to work.”
One of the more unusual aspects of Cannery is the rent-to-own program, which allows residents to turn their monthly payments in mortgage payments after 15 years of leasing.
“Obviously, the prospect of having a four-bedroom, two-bath home that has a private entrance, private parking, driveway spaces and the potential to not only pay an affordable rent is attractive, but the fact that they’re going to earn credits the longer they rent is exciting,” Hanson said. “If somebody moves in on day one, they’ll have a significant equity when it comes time for them to buy.”
Two-bedroom, one-bathroom townhomes start at $431 and top out at $900, based on income and the number of people living in the space. Four-bedroom, two-bathroom units start at $545 and top out at $1050.
Applicants must bring original copies of their social security cards, birth certificates and identification along with any current pension or annuity statements, current social security award letters, six consecutive pay stubs or workman’s comp information, current alimony or child support information, the last six months of bank statements, checking or saving information and certificates of deposit, stocks, bonds, 401k, IRA, whole or life insurance information, and home settlement papers or mortgage/home tax information.
Each applicant must also bring a certified check or money order for $30 for each adult per household.
“My advice is that everyone download, from the website, the application package, review it and have everything prepared,” Hanson said. “It’s pretty detailed – it’s almost like getting a mortgage – but the more complete the package than the easier the process will be, and the better chance they’ll have.
“I think because of the amount of interest … we’ll be seeing the approval really be based on the prospective tenant’s diligence in getting the paperwork together and back in to us,” Hanson said. “At the end of the day, the 44 most-qualified, ready folks to sign the lease will be the ones that get to move forward. Hopefully, we have lots of good candidates, and those who are most interested in not only leasing but going on to participate in the lease-to-purchase program rise to the top.”
Hanson said poor weather pushed back construction three-to-four weeks and that the first units would be available beginning in October. More homes would likely become available each week after that, with the total build completed by January.
Application day runs from 10 a.m. to 2 p.m. in the Upstairs Meeting Room at Berlin Town Hall on 10 Williams Street. For more information, or to download an application, visit www.canneryvillagemd.com or call 443-513-4386.
The affordable housing complex on Flower Street broke ground earlier this year and recently set up an office in the Berlin Visitor’s Center.
Osprey Property Company Vice President Andrew Hanson, who is overseeing the project, said response has been strong.
“We had a huge response in the first couple of hours,” he said. “Probably 25 or more people came within hours of opening. Even before we opened the leasing office and put a sign up, we probably had over 200 folks express an interest and we’re really excited about the process.”
Hanson said the applicants have been diverse.
“We’re seeing whole bunch of different folks with different backgrounds, working in different sectors, different ages and different family sizes,” he said. “Some folks are already residing in the area, some folks are commuting from other parts further outside of Worcester County, but work in either Berlin or Ocean City, and they’re excited to be able to get closer to work.”
One of the more unusual aspects of Cannery is the rent-to-own program, which allows residents to turn their monthly payments in mortgage payments after 15 years of leasing.
“Obviously, the prospect of having a four-bedroom, two-bath home that has a private entrance, private parking, driveway spaces and the potential to not only pay an affordable rent is attractive, but the fact that they’re going to earn credits the longer they rent is exciting,” Hanson said. “If somebody moves in on day one, they’ll have a significant equity when it comes time for them to buy.”
Two-bedroom, one-bathroom townhomes start at $431 and top out at $900, based on income and the number of people living in the space. Four-bedroom, two-bathroom units start at $545 and top out at $1050.
Applicants must bring original copies of their social security cards, birth certificates and identification along with any current pension or annuity statements, current social security award letters, six consecutive pay stubs or workman’s comp information, current alimony or child support information, the last six months of bank statements, checking or saving information and certificates of deposit, stocks, bonds, 401k, IRA, whole or life insurance information, and home settlement papers or mortgage/home tax information.
Each applicant must also bring a certified check or money order for $30 for each adult per household.
“My advice is that everyone download, from the website, the application package, review it and have everything prepared,” Hanson said. “It’s pretty detailed – it’s almost like getting a mortgage – but the more complete the package than the easier the process will be, and the better chance they’ll have.
“I think because of the amount of interest … we’ll be seeing the approval really be based on the prospective tenant’s diligence in getting the paperwork together and back in to us,” Hanson said. “At the end of the day, the 44 most-qualified, ready folks to sign the lease will be the ones that get to move forward. Hopefully, we have lots of good candidates, and those who are most interested in not only leasing but going on to participate in the lease-to-purchase program rise to the top.”
Hanson said poor weather pushed back construction three-to-four weeks and that the first units would be available beginning in October. More homes would likely become available each week after that, with the total build completed by January.
Application day runs from 10 a.m. to 2 p.m. in the Upstairs Meeting Room at Berlin Town Hall on 10 Williams Street. For more information, or to download an application, visit www.canneryvillagemd.com or call 443-513-4386.