MALONEY PROPERTIES REAL ESTATE BROKERAGE

Affordable Housing Program Experience

Maloney’s Brokerage Division leverages extensive experience in a comprehensive range of affordable housing programs to support income-restricted rental and homeownership opportunities with expert program administration.

Inclusionary Development Program (IDP) – Boston

Boston’s IDP requires that developers of residential projects with 10 or more units and that require zoning relief or are on city-owned land must contribute to affordable housing.
The Mayor’s Office of Housing (MOH) administers the IDP program, managing both compliance and affordable unit placement. Maloney Properties has experience with income-restricted rental and homeownership IDP units.

Chapter 40B Program – Statewide

The Chapter 40B program is a Massachusetts state law designed to promote the development of affordable housing.
Officially known as the Comprehensive Permit Law, it allows developers to bypass certain local zoning restrictions if their project includes a sufficient percentage of affordable units.
Maloney Properties has experience with income-restricted rental and homeownership 40B units.

Commonwealth Builder Program – Statewide in Gateway Cities

This homeownership program offers affordable housing to first-time buyers earning 70–120% of the Area Median Income, with less than $100,000 in non-retirement assets. Eligible buyers must qualify for a fixed-rate mortgage, provide a 3% down payment (or use approved assistance), cover closing costs, and complete homeownership counseling.
Preference is given to households from disproportionately impacted communities, such as those in Qualified Census Tracts or enrolled in programs like SNAP, WIC, or Section 8.

City of Somerville Inclusionary Housing Program – Somerville

In Somerville, Massachusetts, the Inclusionary Zoning Ordinance mandates that developers of new residential projects include a percentage of affordable housing units based on the size of the development.
These affordable units must be distributed across various income levels:
For rental units, affordability is targeted at households earning between 50% and 110% of the Area Median Income (AMI).
For ownership units, the range extends up to 140% of AMI.