Malden receives funds for affordable housing
More than $800,000 has been awarded to the Affordable Housing Trust Fund Board of Malden, making it the first time that funds have been awarded to the Board for housing development projects.
The Community Preservation Committee (CPC) has also awarded the Trust $300,000 to develop affordable housing through a pilot program.
Rachael Running and Eric Henry, co-chairs of the CPC, expressed their thrill that funds from the Community Preservation Act will be used to create affordable housing for the residents of Malden. They said that the partnership of the CPC with the Trust combines the housing and funding expertise of the two organizations to serve the most vulnerable residents of the city.
The Trust will use these funds for two projects. The first is the 213 Main Street project, which will build 20 affordable housing units on what was once the site of the Salvation Army building. The second project will be at 272-274 Cross Street.
When funding such as this is granted to benefit housing prospects within a community, flyer printing can be used by a city to provide more details about the features and eligibility for such housing.
State approval for the first project is expected sometime next year, with construction set to begin in early 2025. Construction on the second project will begin early next year and is expected to be completed in the summer of 2025.
The Community Preservation Committee (CPC) has also awarded the Trust $300,000 to develop affordable housing through a pilot program.
Rachael Running and Eric Henry, co-chairs of the CPC, expressed their thrill that funds from the Community Preservation Act will be used to create affordable housing for the residents of Malden. They said that the partnership of the CPC with the Trust combines the housing and funding expertise of the two organizations to serve the most vulnerable residents of the city.
The Trust will use these funds for two projects. The first is the 213 Main Street project, which will build 20 affordable housing units on what was once the site of the Salvation Army building. The second project will be at 272-274 Cross Street.
When funding such as this is granted to benefit housing prospects within a community, flyer printing can be used by a city to provide more details about the features and eligibility for such housing.
State approval for the first project is expected sometime next year, with construction set to begin in early 2025. Construction on the second project will begin early next year and is expected to be completed in the summer of 2025.