Close
Current temperature in Boston - 62 °
BECOME A MEMBER
Get access to a personalized news feed, our newsletter and exclusive discounts on everything from shows to local restaurants, All for free.
Already a member? Sign in.
The Bay State Banner
BACK TO TOP
The Bay State Banner
POST AN AD SIGN IN

Trending Articles

‘Going to Ground’ installation honors Boston’s first Black female homeowner

Ivy football season finally gets started

Homeowners fight city restrictions on affordable Mission Hill units

READ PRINT EDITION
For Sale

71 Bow Street

Affordable Housing

City of Somerville Income Restricted Homeownership Opportunity

71 Bow Street
65-71 Bow Street
Somerville, MA 02143
www.71BowStreetLottery.com

Four (4) Inclusionary Homeownership Units
Unit # | Unit Size | Estimated Square Footage | AMI | Parking Space | Purchase Price | Minimum Down payment (3%) | Estimated Monthly Condo Fee | Minimum Household Size
203 | 1-Bedroom + Study | 940 | 81%-110% | No | $278,649 | $8,359 | $163 | 1
306 | 2-Bedroom | 1,014 | 80% | Yes | $229,410 | $6,882 | $134 | 2
401 | 2-Bedroom | 1,248 | 80% | Yes | $229,410 | $6,882 | $134 | 2
405 | 2-Bedroom | 998 | 81%- 110% | No | $335,834 | $10,075 | $197 | 2

Maximum Income Limits (set by the HUD + based on Household Size + AMI)
Household Size 80% AMI 81%-110% AMI
1 $82,950 $82,951 – $114,268
2 $94,800 $94,801 – $130,592
3 $106,650 $106,651 – $146,916
4 $118,450 $118,451 – $163,240
5 $127,950 $127,951 – $176,299
6 $137,450 $137,451 – $189,358
*2023 Area Median Incomes for the Boston, Cambridge, Quincy, MA-NH MSA

Asset Limit: $75,000 (excluding restricted assets)

Applications are available during the application period, from Monday, April 1st, 2024 — Wednesday, May 15th, 2024

To complete an online application, visit: www.71BowStreetLottery.com

To have a hard copy of the application mailed to you, please email 71Bow@MaloneyProperties.com or call (617) 639-3064 Ext 771 | US Relay 711

Hard applications will be available at the entrance of the City Hall Annex located at 50 Evergreen Ave, Somerville City Hall located at 93 Highland Ave., & all Somerville Public Library branches.

Fully completed + signed applications must be submitted online or delivered (not postmarked) no later than Wednesday, May 15th, 2024 by 5pm

MAILED TO:
Maloney Properties, Inc.
Attn: 71 Bow Street Lottery
27 Mica Lane, Wellesley, MA 02481

INFORMATION SESSIONS:
Wednesday, April 24th, 2024 at 12pm, Wednesday, May 8th, 2024 at 6pm
Join Zoom Meeting:
https://maloneyproperties.zoom.us/j/82209393467?pwd=R29sboO0hfK5XGceJPmgvdSIYPj2pC.1
Meeting ID: 822 0939 3467
Passcode: 001739
One tap mobile
+13052241968,,82209393467#,,,,*001739# US
+13092053325,,82209393467#,,,,*001739# US

• Selection by Lottery. Asset, Use & Resale Restrictions Apply

For more information, free language assistance, or to make a request for reasonable accommodations, please call (617) 639-3064 Ext 771 | US Relay 711 or email 71Bow@MaloneyProperties.com

EQUAL HOUSING OPPORTUNITY

71 Bow Street Somerville, MA 02143