Housing Assistance of Cape Cod will use $10 million in financing from MassHousing to develop 46 condos at Cornerstone Homes available for purchase by moderate-income, first-time homebuyers.

These homes, along with four rental units, will occupy a three-story building on a vacant lot in downtown Hyannis formerly used as a car dealership.

The mix of one-, two- and three-bedroom units will offer energy-efficient appliances and access to bike storage, unit storage, a community room and a patio.

Of the condos, 31 will be reserved for households earning up to 100% of area median income, and 15 for those earning up to 120% of area median income. Prices will start between $268,000 and $470,000, according to a press release.