The Post is a 4-story residential condominium development constructed in the heart of the Spring Hill neighborhood. Built by Waypoint Companies, a real estate developer with over 20 years of experience in the Metro Boston area. Nineteen newly-constructed units offer modern high-end design and craftsmanship. Open concept throughout with over 9' high ceilings. The design was specifically created to bridge the old with the new, complimenting the historic area. Three of the units will be designated as income-restricted, as defined by the U.S. Department of Housing & Community Development (HUD). and sold to households earning up to 80% AMI or between 81%-110% AMI (Area Median Income).
Garage Parking (additional fees apply)
Indoor Bike Storage
The Post is nestled in the heart of the Spring Hill neighborhood, central to all the city of Somerville has to offer. Minutes to Davis Square, Assembly Row, Union Square, schools, many pocket parks, several public transit lines and Route 93. Somerville is a city located directly to the northwest of Boston. In 2006, the city was named the best-run city in Massachusetts by The Boston Globe. In 1972, 2009, and 2015, the city received the All-America City Award.
JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY
- Program: 40B
- Number of Income-Restricted Condominiums: 3
- Condo Sizes: 1-Bedroom + Study, 2-Bedroom
- Income-Restricted, ADA-Accessible Condos: N/A
- Maximum Income Limits: 80% & 80%-110% AMI (Area Median Income) – Based on HUD Limits
- Asset Limit: $75,000
Asset Limit does not include retirement but does include the assessed value of real estate owned by applicants.
2022 HUD Income Limits
|Household Size||80% AMI||110% AMI|
Current Condo Listings
|Property||# Beds||Price||Income Limit (AMI)||Units Available||Accessible Units|
|The Post||1-Bedroom + Study||$192,438||80%||1||0|
|The Post||2-Bedroom||$312,831||Minimum 80% - Maximum 110%||1||0|
|566 Columbus Ave||1-Bedroom||$213,700||80%||3||0|
|566 Columbus Ave||2-Bedroom||$252,000||80%||3||0|
|566 Columbus Ave||2-Bedroom||$326,000||Minimum 80% - Maximum 100%||5||0|
The next step is to request an application.
APPLICATION DISTRIBUTION PERIOD:
January 11, 2023 – February 24, 2023
February 24, 2023
Email: ThePost@MaloneyProperties.com Phone: (617) 639-3064 Ext 760
Click Here to get a PDF copy of the application
When is the lottery? The lottery date will not be scheduled until after the application deadline. The lottery is scheduled 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.
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 person who conducts the Lottery Drawing. Per the 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 factor.
FAQ / FREQUENTLY ASKED 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.
What are the condo fees? 1-Bedroom + Study (Unit 301): $71/month. 2-Bedroom (80%; Unit 105): $79/month. 2-Bedroom (80%-110%; Unit 203): $115/month. Condo fees include: Water/sewer, master insurance, security, elevator, exterior maintenance, landscaping, snow removal, extra storage, refuse removal, reserve funds, property taxes, & management fee.
What utilities are included in the condo fee? Water/sewer. Owners will be responsible for gas, electricity, & cable/internet.
Is the stove electric or gas? Gas.
Is the washer/dryer included? Yes. In-unit.
Is parking available? Parking assignments TBD.
Is storage available? No additional storage on site.
What is the pet policy? Pets are allowed, with some breed restrictions.
If you have additional questions about this property, please contact us.