MALDEN, MA – MassHousing has announced $1.55 million in CommonWealth Builder funding to support the creation of five affordable condominiums for moderate-income, first-time homebuyers at 272 Cross Street in Malden.
The project, led by The Neighborhood Developers (TND), will transform a vacant building into a two-story structure with five energy-efficient condos. Two units will be available to buyers earning up to 80% of the area median income (AMI), and three to those earning up to 100% of AMI.
“This project turns a long-vacant property into a beacon of neighborhood stability,” said MassHousing CEO Chrystal Kornegay.
The development is backed by additional funding from East Cambridge Savings Bank, the City of Malden, and the Charlesbank Homes Foundation. Units will range in price from $240,370 to $352,749 and include one- and two-bedroom options.
The project is part of a broader effort under MassHousing’s Neighborhood Hub initiative to promote affordable homeownership and revitalize underused sites.
