SWAP Inc. completes affordable homes in Barrington

SWAP INC. is preparing to sell two affordably priced homes in Barrington to qualified buyers. The yellow house is a two-family home. The light-green house is a single-family home. / COURTESY SWAP INC.

BARRINGTON – A single-family home with three bedrooms and a two-family home with a rentable garden apartment have been completed by SWAP Inc. and will take offers for purchase from eligible buyers.

The two homes, completed with financing from Bank Rhode Island, are listed at $289,000 and $319,000, respectively. This is considered an affordable price in Barrington, one of the state’s wealthiest communities.

The location of the two homes, built as neighbors, is near Barrington Beach, according to a news release.

The school zone is Nayatt Elementary School.

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Eligible buyers can earn up to 120% of the area median income, which is based on family size. The closing documents will include a 99-year deed restriction, which requires that if sold, the properties will remain affordable for borrowers with low or moderate incomes.

Carla DeStefano, SWAP executive director, explained: “These two homes are part of an ongoing commitment to expand affordable housing into suburban communities. All too often, homeownership is out of reach for many Rhode Island families, especially in suburban communities. I commend Barrington’s ongoing commitment to increase the affordable-housing stock.”

Mary MacDonald is a staff writer for the PBN. Contact her at MacDonald@PBN.com.

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