Malden opens lottery for affordable housing
Applications are now being accepted for five new affordable home units on Cross Street.
Construction began on these units in January and is being carried out by The Neighborhood Developers, a non-profit organization based in Chelsea. The property had been vacant and was purchased by the city with funds from the American Rescue Plan Act in the amount of $1.1 million. An amount of $450,000 was also granted by the Affordable Housing Trust Fund Board from the city to cover the costs of development.
The foundation of a three-family home, currently partially demolished, is being used to build the units, two of which will have one bedroom and the other three of which will have two bedrooms. Three of the units will be affordable for those earning 100% of the median income in the area, while the other two will be for those earning 80%. The property is located near public transit, shops, schools, and many other neighborhood amenities to offer convenience and high-quality services.
Brochure printing can be used to provide more details on the features and amenities of such properties.
Applications for these units can be found on The Neighborhood Developers’ website, and a lottery will decide the winners. Residents of Malden will receive preference over other applicants. Applications are due on Tuesday, October 7 and the lottery will take place two weeks later.
Construction began on these units in January and is being carried out by The Neighborhood Developers, a non-profit organization based in Chelsea. The property had been vacant and was purchased by the city with funds from the American Rescue Plan Act in the amount of $1.1 million. An amount of $450,000 was also granted by the Affordable Housing Trust Fund Board from the city to cover the costs of development.
The foundation of a three-family home, currently partially demolished, is being used to build the units, two of which will have one bedroom and the other three of which will have two bedrooms. Three of the units will be affordable for those earning 100% of the median income in the area, while the other two will be for those earning 80%. The property is located near public transit, shops, schools, and many other neighborhood amenities to offer convenience and high-quality services.
Brochure printing can be used to provide more details on the features and amenities of such properties.
Applications for these units can be found on The Neighborhood Developers’ website, and a lottery will decide the winners. Residents of Malden will receive preference over other applicants. Applications are due on Tuesday, October 7 and the lottery will take place two weeks later.