We are committed to ensuring that every current Cobbs Hill Village resident who wishes to remain in the affordable housing complex can do so.
Current residents of the complex will continue to pay the same rent, including existing utilities, if they choose to move into a new unit in the modernized Cobbs Hill Village and for as long as they live there. This commitment was made to current residents at the outset of the project, reiterated throughout the process and documented in writing in December 2016 for each Cobbs Hill Village resident.
In addition, if this project moves forward, we have committed to keeping 20 of these units at their current rent levels for an unprecedented 40 years. These 20 new units would remain priced at today’s monthly rental rates of $332 per studio and $508 per one-bedroom apartment.
All units in Cobbs Hill Village will be affordable under state guidelines.