Application Period Closes at 5 p.m. on Thursday, August 1, 2024
SOMERVILLE – Mayor Katjana Ballantyne and the Somerville Office of Strategic Planning and Community Development (OSPCD) are pleased to announce that applications are currently being accepted for nine (9) income-restricted apartments at The Guild, located at 154 Broadway. Applications will be accepted until 5 p.m. on Thursday, August 1.
The Guild consists of nine inclusionary rental units designated for households making at or below 50% AMI, 80% AMI or 110% AMI (Area Median Income). Please note that no utilities included in rent. All utilities are paid for by the tenant (gas is not a utility at this property).
All applications will be reviewed by Maloney Properties. To download an application and learn more, please visit The Guild’s website.
Please see below for more information on the units available.
# of Units
Unit Size
Square Feet
AMI
Rent
# Built Out for Mobility Impairments
# Built Out for Hearing Impairments
3
Studio
385-440
50%
$748
1
1
Three-Bedroom
1,123
50%
$874
3
3
Studio
356-448
51-80%
$1,418
1
Studio
440
81-110%
$2,088
1
Three-Bedroom
1,121
81-110%
$2,884
Minimum Income Limits for 50% AMI
Unit Size
AMI
Household
Studio
50%
$21,442
Three-Bedroom
50%
$32,163
Maximum Income Limits (Set by HUD, Based on Household Size and AMI
Household Size
50% AMI
51-80% AMI
81-110% AMI
1
$57,100
$57,101-$91,200
$91,201-$125,164
2
$65,300
$65,301-$104,200
$104,201-$143,616
3
$73,450
$73,451-$117,250
$117,251-$161,568
4
$81,600
$81,601-$130,250
$130,251-$179,520
5
$88,150
$88,151-$140,700
$140,701-$193,882
6
$94,700
$94,701-$151,100
$151,101-$208,243
**2024 Area Media Income for the Boston, Quincy, Cambridge, Quincy, MA-NH MSA