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* | # of 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-$1,497 | – | –
13 | 1-Bedroom | 524-763 | 51%-80% | $1,461-$1,574 | 2 | –
7 | 2-Bedroom | 840-918 | 51%-80% | $1,674-$1,819 | 1 | –
5 | 3-Bedroom | 978-1,135 | 51%-80% | $1,865-$2,042 | – | –
8 | Studio | 425-453 | 81%-110% | $1,803-$3,212 | – | 1
8 | 1-Bedroom | 524-763 | 81%-110% | $1,735-$3,175 | 1 | –
3 | 2-Bedroom | 840-954 | 81%-110% | $1,889-$3,902 | 1 | –
3 | 3-Bedroom | 978-1,023 | 81%-110% | $2,231-$4,185 | – | –
*All utilities paid by the tenant.
Rents for 110% AMI units are based on household income. Included in chart above 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. 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
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/81100557552?pwd=RzJxbDJIQTZacEhuaWhpYU5JcXh3Zz09
Meeting ID: 811 0055 7552 Passcode: 932926
• Selection by Lottery. Asset, Use & Occupancy Restrictions apply.
• Preference for Households with Mobility Impairments for accessible units.
For more information, free language assistance, or to make a request for reasonable accommodations, please call (617) 639-3064 Ext 785 | US Relay 711 or email ProspectUnionSquare@MaloneyProperties.com
EQUAL HOUSING OPPORTUNITY
