Prospect Union Square
City of Somerville Income-Restricted Rental Opportunity
Prospect Union Square
20-50 Prospect Street, Somerville, MA 02143
www.ProspectUnionSquareLottery.com
Ninety (90) Inclusionary Rental Units
# of Units | Unit Size | Square Feet | AMI | Rent* | Units built out for Mobility Impairments | # of units built out for Visual Impairments and/or Deaf/Hard of Hearing
10 | Studio | 449-486 | 50% | $1,072-$1,154 | 1 | –
11 | 1-Bedroom | 524-763 | 50% | $1,092-$1,205 | 3 | –
7 | 2 Bedroom | 840-880 | 50% | $1,228-$1,373 | 2 | –
6 | 3-Bedroom | 978-1,191 | 50% | $1,359-$1,536 | – | –
9 | Studio | 405-553 | 51%-80% | $1,415-$1,885 | – | –
13 | 1-Bedroom | 524-763 | 51%-80% | $1,461-$1,848 | 3 | –
7 | 2-Bedroom | 840-918 | 51%-80% | $1,674-$2,034 | 1 | –
5 | 3-Bedroom | 978-1,135 | 51%-80% | $1,865-$2,231 | – | –
8 | Studio | 425-453 | 81%-110% | $3,130-$3,212 | – | 1
8 | 1-Bedroom | 524-763 | 81%-110% | $3,062-$3,175 | 1 | –
3 | 2-Bedroom | 840-954 | 81%-110% | $3,757-$3,902 | 1 | –
3 | 3-Bedroom | 978-1,023 | 81%-110% | $4,185 | – | –
*All utilities paid by the tenant.
Rents for 110% AMI units are based on household income. Included in chart below are the lowest/highest possible rents based on 1-2 people in a Studio unit, 1-2 people in a 1-Bedroom unit and 2-4 people in a 2-Bedroom unit.
Minimum Income Limits for 50% AMI units
Unit Size 80% AMI Minimum Household Income
Studio 50% $32,160
1-Bedroom 50% $32,760
2 Bedroom 50% $36,840
3-Bedroom 50% $40,770
Maximum Income Limits
(set by the HUD + based on Household Size + AMI)
Household Size | 50% AMI | 51%-80% AMI | 81%-110% AMI
1 | $51,950 | $51,951 – $82,950 | $82,951 – $114,268
2 | $59,400 | $59,401 – $94,800 | $94,801 – $130,592
3 | $66,800 | $66,801 – $106,650 | $106,651 – $146,976
4 | $74,200 | $74,201 – $118,450 | $118,451 – $163,240
5 | $80,150 | $80,151 – $127,950 | $127,951 – $176,299
6 | $86,100 | $86,101 – $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.
Monday, June 19th 2023 – Wednesday, July 19th, 2023.
To complete an online application, visit: www.ProspectUnionSquareLottery.com.
To have a hard copy of the application mailed to you, please email
ProspectUnionSquare@MaloneyProperties.com or call (617) 639-3064 Ext 785
Hard applications will be available at the entrance of the City Hall Annex located at 50 Evergreen Ave in Somerville, Somerville City Hall located at 93 Highland Ave., Somerville and all Somerville Public Library branches.
Fully completed + signed applications must be submitted online or postmarked no later than Wednesday, July 19th, 2023
MAILED TO:
Maloney Properties, Inc., Attn: Prospect Lottery, 27 Mica Lane, Wellesley, MA 02481
OR EMAILED TO: ProspectUnionSquare@MaloneyProperties.com
INFORMATION SESSIONS:
Wednesday, June 21st, 2023 at 12:00PM Wednesday, June 28th, 2023 at 6:00PM
Join Zoom Meeting
https://maloneyproperties.zoom.us/j/89425238407?pwd=dlR2d3ExNEd1cERRMVJLZVk5S0QyQT09
Meeting ID: 894 2523 8407 Passcode: 802113
One tap mobile
+16469313860,,89425238407#,,,,*802113# US
LOTTERY DRAWING DATE is expected to be held within 1–2 weeks following the
application deadline. Below is the Zoom Information for the Lottery Drawing:
https://maloneyproperties.zoom.us/j/84178065718?pwd=Mi9kek1oNzVXam9ETHU1cWJPWWFPZz09
Meeting ID: 811 055 7552 Passcode: 932926
- Selection by Lottery. Asset, Use & Occupancy Restrictions apply.
- Preference for Households with Mobility Impairments and/or are Deaf/Hard of Hearing for accessible units.
For more information, language assistance, or to make a request for reasonable accommodations, please call (617) 639-3064 Ext 785 | US Relay 711 or email Prospect@MaloneyProperties.com
EQUAL HOUSING OPPORTUNITY
