Real Estate
Malden Apartment Project Receives Crucial Funding
Two governing bodies worked in tandem to contribute funds to the development.
MALDEN, MA — The Affordable Housing Trust Fund announced this week that it has awarded nearly $350,000 to a housing development project on Overlook Ridge.
An apartment complex is currently being built on lot 13B of Overlook Ridge that is slated to have 79 units. According to the city, the building is primarily being designed for mixed-income households for people aged 55 and older. The Trust is annually given funds by the Community Preservation Committee to distribute to developments of units.
Ward 8 City Councillor Jadeane Sica expressed her satisfaction with the project thus far.
“This project will bring much-needed affordable housing for seniors to Ward 8, helping our residents age in place,” Sica said.
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The 13B project is the first of three housing developments scheduled to be undertaken by WinnDevelopment.
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