287 Maverick Street

287 Maverick Street, East Boston, Boston, MA, USA

The Two Eight Seven is located at 287 Maverick St in East Boston's Jeffries Point. This brand new building boasts beautiful design, incredible amenities and a fantastic location. The Two Eight Seven is located less than 1/2 mile from Maverick Station, which is home to the Blue Line T (one stop from the Airport) and multiple Bus Lines to downtown Boston. Walk to East Boston's waterfront parks, area restaurants such as Cunard Tavern, ReelHouse and Italian Express Pizzeria. Additional area attractions include Downeast Cider House and the East Boston Yacht Club.

FEATURES

Quartz Countertops
Custom Shaker Cabinetry
Stainless Steel Appliances
Porcelanosa Tile Bathrooms
Frameless Shower Enclosures
Hardwood Flooring
Recessed Lighting
In-Unit Laundry
On-Demand Tankless Hot Water heaters
"Smart" Fitness Center
Spin Bikes
Live and Remote Yoga
Mirror by Lululemon and similar equipment
Pet Run
Bike sStorage
Garage Parking Available

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NEIGHBORHOOD

East Boston might be the Boston's best kept secret. A vibrant neighborhood that enjoys the best skyline views in the city from a gorgeous waterfront park. Commutes are a breeze. You're downtown in minutes and have easy access to I-90 and I-93.

JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY

We are conducting a lottery for 5 income-restricted homeownership units at 287 Maverick Street, East Boston, MA 02128.

There is a mix of one-Bedroom and two-Bedroom condos in the 80%-100% AMI Income Categories. Please see the income table below. The price and income restrictions are set by the Boston Planning & Development Agency (BPDA).

# of Units Unit Sizes AMI Price
2 1 Bed* 80% $202,900
2 1 Bed 80% – 100%** $269,200
1 2 Bed* 80% $240,800

*This unit is built out for households with mobility impairments.
**These units are available to those who earn more than 80% but less than 100% of AMI.
Maximum Asset Limits
80% AMI: $75,000
100% AMI: $100,000

Asset Limits do not include retirement accounts. It does include real estate.

Current Condo Listings

Property# BedsPriceIncome Limit (AMI)Units Available
Nevins Hill1$213,70080%1
Nevins Hill1$280,700100%1
Nevins Hill2$252,00080%3
Nevins Hill2$326,000100%1
Nevins Hill2$496,400150%1
Nevins Hill3$368,500100%1
69 Cummins Highway2$252,00080%1
Fieldstone Way2$305,50080%1
Townhomes at Charles Park3$290,30080%1
Townhomes at Charles Park3$368,500100%1
Maplewood School Condos1$260,00080%1
Maplewood School Condos2$269,50080%1
1710 Dorchester Ave1$213,70080%1
1710 Dorchester Ave2$326,000100%1
7 Summer Street2 Bedroom$264,69180%3
7 Summer Street1 Bedroom$331,283Minimum 80% - Maximum 110%1
7 Summer Street2 Bedroom$380,187Minimum 80% - Maximum 110%1

NEXT STEPS

The next step is to request an application.

Free language assistance is available for those whose primary language is not English or have limited English proficiency. For more information or reasonable accommodations for persons with disabilities, please contact us.
 

After careful consideration and with an abundance of caution concerning COVID-19, the City of Boston has cancelled in-person applications for this lottery. If you cannot complete the application online, please call us at 781-992-5308 / US Relay #711, to request an application and let us know if you need any support or guidance to complete the application.

Applications must be fully completed, signed and submitted online or postmarked no later than the deadline.

Mailing Address:
Maloney Properties, Inc.
Attention: 287 Maverick Lottery
27 Mica Lane, Wellesley MA 02481

  • Selection by lottery. Asset, Use & Occupancy Restrictions apply.
  • Preference for  households who need the ADA features for people with mobility disabilities
  • Preference for Boston Residents
  • Preference for Households With at least One Person Per Bedroom
  • Preference for First Time Home Buyers

Applications will not be reviewed until we reach the applicants in order of their preferences and lottery number. We will send emails to applicants upon receipt of their applications. We will review applications to ensure they are completed correctly including indicating which preferences they are applying for and that the proper documentation has been submitted.

For more on income and asset eligibility, please visit BostonPlans.org.

FAQ / FREQUENTLY ASKED QUESTIONS

Income Questions:

How is my income calculated?
The household income is calculated based on the gross income of the household. Commissions, bonuses and other regular payments are included and considered part of the gross annual income.

I didn’t file taxes last year. What do I need to provide?
Individuals or households who did not file taxes must provide a verification of non-filing from the IRS in lieu of a tax return. To obtain the verification of non-filing, applicants should fill out a 4506-T form and file it by mail or hand-deliver it to an IRS office. The IRS will mail back a letter of verification which must be provided with the income materials given to the marketing agent. See the IRS website to download a 4506-T form.

I received a pay raise between the time I picked up an application and the time I was income certified and now I am over the income limit. What do I do?
Income is calculated at the time the applicant submits an application to the lottery agent, not during the application process or at the time of the lottery. Eligibility must be maintained from the time of the application pick up until after income certification verification. Unfortunately, if an applicant’s income is over the income limit, the applicant will not be eligible for the particular unit for which they applied.

I have children in school/college, how does this affect my application?
Income from children in school/college under the age of 18 is not considered towards the income of the household.

Are student loans considered income?
Student loans are not considered income and may not be used to income qualify.

I am separated from my spouse, does this affect my application?
Legally married couples shall both be considered part of the household, even if separated. Applicants with additional questions regarding this policy must speak with the marketing agent/seller.

I would like to appeal a decision regarding income eligibility. How do I appeal? Applicants who are rejected will receive a rejection letter in writing and will be given 7 days for the opportunity to appeal the decision.

Preference Questions:

Do I need to be a resident of Boston to apply?
No, but Boston Residents receive a preference.

Who is eligible for the Boston Resident Preference?
An applicant or co-applicant that, at the time of application is a documented full-time resident of the City of Boston.

What do I need to submit for Proof of Boston Residency?
“Boston Resident” shall mean any individual whose permanent and principal residence, where he or she normally eats, sleeps, and maintains his or her personal and household effects, is in the City of Boston.

If you are picked from the lottery, you’ll be asked to provide two of the following to prove Boston residency. All certifications need to display your name and the Boston address. Bills need to be dated in the last 60 days. If you submit false residency information, you’ll lose your spot in the lottery.

  • A dated letter from transitional housing or a homeless shelter located in the City of Boston
  • Signed lease (At-will lease counts)
  • Mortgage / Property Tax statement
  • Car registration / insurance cover page
  • Renter’s Insurance
  • Heating bill (Gas, Electric, Oil)
  • Cable / Data / Internet bill
  • City of Boston voter registration / Resident listing
  • Cell / Landline phone bill

What is the household size preference?
Households with at least one person per bedroom occupying the unit have preference over households with fewer than one person per bedroom. For example, a 2-person household applying for a 2 bedroom unit will have preference over a 1-person household applying for a 2-bedroom.

We are excepting to have a baby in a few months, can we count the baby towards our household size?
No. Unborn children do not count as a household member.

Mortgage Questions:

Do I need a mortgage pre-approval to apply?
No, you do not need to submit a mortgage pre-approval with the initial application. If you are selected after the lottery, you will need to obtain a mortgage pre-approval.

Can I have a co-signer on my mortgage?
No. Only household members who will live in the unit can sign the deed and/or mortgage.

Can I receive a gift for down payment?
Yes. You may receive gift money from someone outside of your household. However, all gift money is counted towards the asset limit.

Do I need to use a specific bank or lender to get a mortgage pre-qualification?
You may use any bank or lender for a mortgage pre-qualification.
We recommend the ONE mortgage & Mass Housing mortgage program for first-time homebuyers:

More Questions:

What is my Application Number and Lottery Number?
We will mail a letter to all Applicants entered in the Lottery Drawing providing their unique application Number.  We will mail out a second notification letter after the lottery has taken place. The lottery number is assigned by the Boston Fair Housing Commission, who conducts the Lottery Drawing. Per the Boston Fair Housing Commission guidelines, applications will be sorted by bedroom size and income level, then for preferences, followed by the lottery number.  An Applicant’s “rank position” is determined by a combination of all the sorting factors – not just the Lottery Number.  If you would like to know your “rank position” please feel free to send an email inquiry – including your Application Number and Lottery Number to 340westsecond@maloneyproperties.com. We will do our best to reply to emails within 48 hours.

When is the lottery?
The lottery date will not be scheduled until after the application deadline. The lottery is scheduled with the City of Boston Fair Housing & Equity Office and the lottery date is typically held 4-5 weeks after the application deadline. All applicants will receive notification of the date, time, and location of the lottery, as well as their application number. The lottery will be open to the public.

Do I have to attend the lottery?
No. All applicants will be notified of their lottery number after the lottery.

When will I be contacted?
We will begin contacting only the top applicants following the lottery drawing.

Can I rent out my unit?
You must agree to live in this property as your principal place of residence. In no event are you allowed to rent the property.

Do I have to enroll in a First-Time Home Buyer Course?
Buyers are not required to enroll in a First-Time Home Buyer Course for this lottery.

How much can I resell my affordable condo for?
Per the affordable housing covenant:

3.  Covenant; Maximum Resale price The Owner covenants that the Premises, or any interest therein. shall not be sold, conveyed, assigned or otherwise disposed of, for consideration in excess of the Maximum Resale price as defined below, but may be sold for less than the Maximum Resale Price in order to be available to an Eligible purchaser.  Consideration shall include the aggregate value of all money, property and services of every kind given or paid by the purchaser to or for the benefit of the Owner in connection with the transfer of the Premises, including any consideration paid for any other real property or personal property conveyed by the Owner to the purchaser
The “Maximum Resale Price” for the Premises as of a given date shall be the sum of:
a)    the purchase price for the Premises specified in the Deed, increased three percent (3%) per annum. compounded annually;
b)    plus, the actual cost of bedrooms added to the Premises;
c)    plus, the actual cost of bathrooms added to a Premises containing three or more
d)    plus, the actual cost of other capital improvements made to the premises, provided that, such amount shall not exceed one percent, per year, Of the price paid for the Premises, by Owner from time to time.
The cost of capital improvements shall be included in the Maximum Resale Price if, (i) the improvement is considered to be a “capital” improvement Within the definition of the Internal Revenue Code; (ii) the improvement complied with all pertinent statutes, ordinances and regulations at the time such improvement was made, and (iii) the cost Of such improvement has at the time Of resale.

Tel: 781-992-5304 – US Relay 711
Email: 287Maverick@maloneyproperties.com