272 Cross Street
Quick facts
City: Malden
Expected Construction start date: Fall 2024
Development type: Renovation and addition
Number of new homes: 5 homes for sale (2 one-bedrooms, 3 two-bedrooms).
Affordability: 5 homes at 2 <80% AMI, and 3 homes at <100% AMI
Overview
TND has an exciting opportunity to create 5 affordable homes for purchase and breathe new life into the vacant building at 272 Cross Street. This property was specifically identified by the City of Malden, through their MassHousing-supported Neighborhood Hub initiative, as an opportunity for beneficial redevelopment. TND plans to create five new affordable condominiums on this site, expanding critically needed affordable homeownership options in the community. The location provides excellent accessibility and convenience, situated near public transit, schools, shops, and other neighborhood amenities that will serve future residents well. With the project already fully permitted, TND is poised to swiftly transform an unused lot into quality, inclusive housing - turning a community liability into a valuable asset. TND's extensive experience with community-oriented development makes them uniquely qualified to deliver this promising project that aligns closely with the Neighborhood Hub's revitalization vision.
Development team
Architect: Flow Design
Subordinate debt: City of Malden Affordable Housing Trust and ARPA
Construction lender: East Cambridge Savings Bank
GAP funding provider: MassHousing Commonwealth Builder Program
