Affordable condo project completed on Cross Street

First-time homeowners will soon be moving into five brand-new, affordable condo units at 272-274 Cross St., which was previously a vacant and dilapidated property. The project was developed by The Neighborhood Developers (TND) in partnership with Mayor Gary Christenson, the City of Malden’s Affordable Housing Trust Fund (AHTF) and the City’s Office of Strategic Planning and Community Development (OSPCD).

“Rising costs are worrying many Maldonians who wonder whether they can afford to stay in our community. These five homes provide the affordability and stability that our residents deserve and are just one part of how the City is responding to the housing crisis,” said Mayor Christenson. “Years of effort to transform a previously vacant site culminated in the success of these affordable, state-of-the-art homes. I want to thank The Neighborhood Developers for the tireless work they have put into this project.”

All five units are affordable and are restricted to income-eligible first-time homebuyers. There is a local preference, so most of the homes will likely be purchased by people who live or work in Malden. This project includes two two-bedroom units at 100% of the Area Median Income (AMI), one two-bedroom unit at 80% AMI, one one-bedroom unit at 100% AMI and one one-bedroom unit at 80% AMI. The project site was identified through the City’s participation in the Neighborhood Hub Program, a technical assistance program led by the Massachusetts Housing Finance Agency (MassHousing) to support neighborhood revitalization. This project was awarded $1,150,000 in City ARPA grant funds and $450,000 from AHTF using fees paid by developers — with additional support from MassHousing’s Commonwealth Builder Program and the Charlesbank Foundation.

“Each of these new, beautiful homes provides an opportunity for our residents and helps these families fully realize the American Dream through affordable homeownership,” said Ward 7 Councillor Chris Simonelli. “I’m grateful for the work TND has put into this project and I’m excited to welcome the families into their new homes in Ward 7.”

“This ribbon cutting demonstrates what is possible when strong partners unite around a shared vision. We are deeply grateful to Mayor Gary Christenson and the City of Malden for their leadership and support in creating affordable homeownership opportunities at 272 Cross Street. As TND’s first project in Malden, we are honored to contribute to the community and to help expand access to stable, affordable homes,” said TND Executive Director Rafael Mares.

Construction on the project began in late 2024 and was completed in fall 2025. The application period began in July and ended in October with a lottery drawing. The new homeowners are expected to begin moving in this month.

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