Housing Assistance Celebrates Cornerstone Hyannis Groundbreaking
On a sunny May 1, state and local leaders, project partners, and community members joined the Housing Assistance team to mark an exciting milestone: the construction of Cornerstone Hyannis. Located at 268 Stevens Street in Hyannis, the new 50-unit attainable homeownership community sits on a previously blighted lot.
“Thank you for coming to celebrate the creation of the first homeownership project on Cape Cod developed specifically for our workforce and the missing middle,” said Alisa Magnotta, Housing Assistance CEO.
Cornerstone Hyannis is the first project under the Cornerstone Homes Cape Cod flag, a new Housing Assistance initiative to create attainable, high-quality homes for middle-income buyers on the Cape.
Marking this groundbreaking for Cornerstone Hyannis is exciting because we can see this long-planned project finally taking shape,” said Magnotta. “Cornerstone Homes is about creating opportunities like this that allow people to live close to where they work and contribute to the long-term success of their communities.”
Located within a short walk of Main Street Hyannis, the transit-oriented development includes a mix of 18 one-bedroom, 27 two-bedroom, and five three-bedroom units. The site aligns with smart growth planning on Cape Cod, as it makes use of previously developed and underutilized land while improving the site’s environmental conditions and protecting the existing natural resources.
“With Cornerstone Hyannis, we are taking a longtime vacant lot and creating new opportunities for Cape Codders to own a home right in the heart of Hyannis,” said David Quinn, vice president of real estate development at Housing Assistance. “Because the units will be sold to middle-income buyers, the new homes will be of benefit to people who may not qualify for traditional ‘affordable housing’ but also can’t afford homes on the open market.”
Staff and supporters had a chance to sign a truss that will be used in the construction of Cornerstone.
“Groundbreakings are my favorite days because we get to actually see tangible progress on the toughest issue facing Cape Codders and Islanders,” said State Sen. Julian Cyr. “This is a model for home ownership that we can replicate across the region.”
The three-story building is designed to complement the scale of the surrounding area and will feature modern finishes and a wide range of amenities, including a community lounge that opens onto an enclosed patio with grills and a fire pit, sitting areas on each floor level, secure mail and storage spaces, exterior bike storage, two elevators, and high-efficiency electric systems.
Ann Rebello, a Housing Assistance board member and 30-year employee, said she knows the generational impact these homes will have for buyers. “When I was a young, single mom, I never dreamed that I would be a homeowner,” she said. Through the help of a first-time homebuyers program, she was able to buy a house that has provided shelter for her parents, daughter, and grandchildren. “It felt like nothing short of a miracle. I still pull into my driveway and I’m filled with joy and gratitude that I own a home.”
Construction is expected to be completed in summer of 2027, and sales of the units will be conducted through a lottery administered by Housing Assistance. Unit prices start at $278,000 for one-bedroom units at 100 percent of Area Median Income (AMI). The income limit for the development goes up to 120 percent of AMI, except for four units that will be sold at market rate with no income restriction. The project is designed by SV Design and constructed by Dellbrook | JKS with engineering by DiPrete Engineering.
Interested buyers are encouraged to visit Cornerstone Homes Cape Cod at CornerstoneHomesCapeCod.com now to begin preparing for homeownership and to learn about upcoming information sessions and homebuyer readiness programs.
