KEENE — Over 20 years after Adirondack Roots purchased a small parcel of land on Route 73, officials, homeowners and community members gathered to celebrate the completion of the new, four-home neighborhood at Both Meadow Trail.
“Every one of these new homeowners struggled to find stable housing near their work or families,” said Caitlin Wargo, interim executive director of Adirondack Roots, the nonprofit organization that led the development.
“It took time to make this neighborhood a reality. When the New York State Office of Homes and Community Renewal launched the Affordable Homeownership Opportunity Program, we knew the time was right.”
Each of the two-bedroom, one-bath homes sold for $160,000, a price far below the average home price in Essex County, which was $323,000 in 2025.
To mark the project’s completion, representatives from Adirondack Roots joined local and state officials and community members for a ceremonial ribbon cutting at the site June 4.
The below-market pricing was made possible by several factors that came together over many years.
Tom and Alana Both, of Keene, sold the property at a greatly reduced rate to Adirondack Roots, which committed to developing attainable housing. The organization later sold a piece of the property to Little Peaks Pre-School and purchased an adjacent lot.
The project is supported by $600,000 from HCR’s Affordable Homeownership Opportunity Program, which provides financing to housing developers to create affordable, single-family houses, condos and co-ops.
HCR’s Affordable Homeownership Development Program, which supports municipalities and nonprofits that create or improve affordable one-to-four family houses, provided $200,000. Grants from Adirondack Community Foundation and contributions from Keene residents and the Keene Congregationalist Church offset additional costs.
The homes’ purchase price was further reduced by a shared-equity homeownership model in which buyers own their homes, but the land beneath is owned by the Adirondack Community Housing Trust, which ensures permanent affordability.
More than 30 people applied to purchase one of the homes in Both Meadow Trail. To qualify, total income for a one-person household was limited to $72,480, or $103,560 for a four-person household.
If owners decide to sell, resale prices are capped under a formula that limits appreciation. Future buyers must also provide proof of income eligibility.
The two-story modular units were made by Simplex Homes and constructed by O’Neil Housing of Bloomingdale. Other partners on the project included Champlain National Bank, which provided construction financing, and Arrow Bank, which helped buyers navigate rules surrounding housing trust mortgages.
“We’ve seen too many locals become discouraged by a lack of affordable housing and leave the area,” Adirondack Roots Board President Emily Politi said.
“It took the efforts of so many people to make this happen and we are honored to welcome these new homeowners to the neighborhood.”