Malden Secures State Funding For Affordable Housing Project

MALDEN, MA — The city announced that an affordable housing project has received some additional critical funding.

The housing development is located on 213 Main St., the previous location of the Salvation Army. Its construction will be be carried out by the Asian Community Development Corporation and is slated to deliver 20 rental units. According to the city, 16 of them will be restricted to residents earning 60% of the median income, while the remaining four will be available to people earning 30% AMI. This newest batch of funding is from the Massachusetts Executive Office of Housing and Livable Communities. The project has already received more than $1 million combined through American Rescue Plan Act and Community Preservation Act avenues.

“With vital state funding now secured, this project is one step closer to delivering 20 units of needed affordable rental units in Ward One,” City Councillor Peg Crowe said. “I look forward to continue partnering with the ACDC throughout the next stages to guarantee a transparent and equitable development process.”