News Flash

City of Malden News

Posted on: October 23, 2023

Malden’s Housing Trust Makes First Awards to Affordable Housing Projects

AHTF 213 Main and 272 Cross

Malden’s Affordable Housing Trust Fund Board awarded more than $800,000 to two affordable housing projects on October 18th, marking the first time that the Board awarded funds to housing development projects.

“This moment has been years in the making and marks a new chapter in our efforts to combat the housing crisis,” said Mayor Christenson, who chairs the Trust Fund Board. “Affordable housing doesn’t happen by accident – it requires intention, commitment, and investment from leaders, developers, neighbors, and the whole community. These two projects will take two blighted properties and transform them into affordable homes for Malden residents, improving our neighborhoods and strengthening our community at the same time.”

In addition to funds allocated by the Mayor and Council, the Trust also received $300,000 from the Community Preservation Committee (CPC) to develop affordable housing on their behalf through a pilot program. Under the program, the Trust awards the CPC’s funds to affordable housing projects.

“We are thrilled that Community Preservation Act funds will be creating new affordable housing for Malden's residents,” said CPC Co-Chairs Rachael Running and Eric Henry. “CPC's partnership with the Trust pairs our funding and housing expertise to serve our most vulnerable residents. We look forward to partnering with the Trust to create more affordable housing for our community.”

The City’s American Rescue Plan Act (ARPA) Housing Subcommittee, led by co-chairs City Councillor Amanda Linehan and Office of Strategic Planning and Community Development (OSPCD) Director Deborah Burke, also awarded approximately $2.1 million in ARPA funds to the projects.

“This is a really significant moment for our city, and shows just how much impact you can have when you plan strategically over the long term to be able to capitalize on big opportunities when they arise,” said Councillor Amanda Linehan. “We've laid the groundwork to leverage state and federal funds by creating our affordable housing trust fund and building relationships with non-profit developers, and now those efforts are bearing fruit for our most in-need residents.”

The 213 Main Street project was awarded $373,625 from the Trust, including $300,000 in funds from the CPC. This project will build 20 affordable units on the site of the former Salvation Army building, including sixteen units affordable to residents at 60% of the area median income (AMI) and four units affordable to residents at 30% AMI . The project is led by Asian Community Development Corporation, which bought the property last year with $949,500 in ARPA funds. 213 Main Street received Planning Board approval earlier this month, with more than one hundred residents writing in favor. If state funding is approved for the project in 2024, construction would begin in early 2025. More information about this project is available at cityofmalden.org/213main.

The Trust also awarded $450,000 to 272-274 Cross Street, a project to build five homeownership units on the site of an unoccupied, partially demolished three-family home. Three of the units will be affordable to households earning 100% AMI, and two will be affordable to households earning 80% AMI. $1.15 million in City ARPA funding was also awarded this week. Construction of the project, which is led by The Neighborhood Developers (TND), will begin in early 2024 and be completed in early summer 2025. More information about this project is available at cityofmalden.org/272cross.

Both projects are part of the City’s vacant/ foreclosed property program, where unused or blighted properties are converted into affordable housing. The program is a partnership between the City’s Inspectional Services Department and the Office of Strategic Planning and Community Development (OSPCD). Both affordable housing projects will include a preference for Malden residents for 70% of the units, the maximum allowed by federal fair housing law.

More information about the Affordable Housing Trust Fund is available at cityofmalden.org/ahtf.

Pictured: Renderings (from left) 213 Main Street by ACDC; and 272 Cross Street by TND

Facebook Twitter Email

Other News in City of Malden News

Richie Sica

Longtime Malden Business Owner turns 70 Years Young

Posted on: February 15, 2024 | Last Modified on: July 8, 2019
Safe Routes

Walk and Roll to School

Posted on: February 7, 2024
Road map thru Malden

A Colorful Creation for Malden

Posted on: January 10, 2024
Lenny Iovino 80

Malden Resident Celebrates 80 Years

Posted on: January 8, 2024
High Expectation

Grand Opening of High Expectations

Posted on: December 19, 2023
DPW - Snow - Truck (1)

Malden Embraces Winter Preparedness

Posted on: December 13, 2023
Philomena Brackett

Celebrating a Milestone Birthday!

Posted on: December 7, 2023
Grand Opening

Grand Opening of Ultimate Tango

Posted on: November 15, 2023
Wonder Women in Malden

Wonder Women in Malden Celebrated

Posted on: October 17, 2023
Mayor Christenson and Tony Bartolo

Tony’s Autobody - 45 Years in Malden!

Posted on: October 4, 2023
Tree Planting2

Implementation Grant in Action

Posted on: September 14, 2023
Prestige Car Wash

Prestige Car Wash opens Malden Location

Posted on: August 17, 2023
AAAW

City Awards ARPA Funds to AAAW

Posted on: August 8, 2023
Disability Commission

2023 National Night Out

Posted on: August 3, 2023
Celia Denehy

Celebrating a Century!

Posted on: July 13, 2023
Memorials2

Malden Celebrates Memorial Day

Posted on: June 1, 2023
Triangle Clients

Triangle, Inc. Visits City Hall

Posted on: April 24, 2023
Arab American Heritage month

Arab American Heritage Month

Posted on: April 20, 2023
Chief Sullivan Retirement

Fire Chief Bill Sullivan Retires

Posted on: March 30, 2023
Black Earth Compost

Malden Announces Composting Program

Posted on: April 4, 2023
GREEN MALDEN FAIR Banner

Malden to Hold Green Malden Fair

Posted on: April 4, 2023
MTEC field trip

MTEC Camping Trip

Posted on: March 22, 2023
103 Birthday

Celebrating a 103rd Birthday!

Posted on: March 22, 2023