Sept. 26 Community Meeting for Malden Affordable Homeownership Development

Special to The Advocate

Ward 7 Councillor Chris Simonelli, The Neighborhood Developers (TND) and the City of Malden’s Office of Strategic Planning and Community Development (OSPCD) are hosting a community meeting on Thursday, Sept. 26 at 6:00 p.m. for the development project located at 272-274 Cross St. This project will produce five affordable homeownership units on the site of an unoccupied, partially demolished three-family home. Three of the units will be affordable to households earning 100% of Area Median Income (AMI), and two will be affordable to households earning 80% AMI.

“The Affordable Housing Trust Fund’s Action Plan implemented years ago promised transformative results by investing in projects that created, preserved, and supported income-restricted affordable housing throughout Malden. The proposed development at 272-274 Cross Street runs true to the goals set forth in the plan and will help create homeownership opportunities for low- and moderate-income residents,” said Mayor Gary Christenson. “The community meeting scheduled will be crucial to soliciting feedback from community members to ensure a seamless development within their neighborhood. We welcome and encourage residents to attend and provide feedback regarding the project.”

The property was acquired for $1,150,000 in January 2024 and financed by the City of Malden American Rescue Plan Act (ARPA) funds as part of the City’s vacant/problem property program, where unused or blighted properties are converted to affordable housing. Malden’s Affordable Housing Trust Fund Board also awarded $450,000 for development soft costs. The developers are expected to start construction in late fall 2024. There will be a preference for Malden residents in the selection process for each of the units.

“I’m proud to support this affordable housing development that will provide homeownership opportunities for Malden’s low-income residents,” said Councillor Simonelli. “I’m grateful to Mayor Christenson, the Affordable Housing Trust Fund, the City’s Housing ARPA Subcommittee and Malden’s OSPCD for helping facilitate the community meeting for this project. I encourage residents to attend and provide feedback during the scheduled meeting to make sure this development caters directly to the community’s needs.”

“TND is grateful for the opportunity to create five affordable homes for purchase and breathe new life into a vacant building on Cross Street. Affordable homeownership options in Malden are limited and we are thrilled to be able to contribute. The new proud homeowners will live in beautiful homes near public transportation, schools, shops, and other amenities. We greatly appreciate the City’s partnership in this project,” said TND Executive Director Rafael Mares.

This meeting will be conducted in a hybrid manner. The in-person meeting will be held at Malden City Hall (215 Pleasant St.) in Conference Room 105, which is located on the first floor. Please register for this meeting at https://form.jotform.com/242405614493051 – a Zoom link will be shared after registration.

More info about this project is available at cityofmalden.org/272cross