Vesta

Exterior of Vesta in South Boston
  • Exterior of Vesta in South Boston
  • Rooftop deck at Vesta in South Boston
  • Restaurant at Vesta in South Boston
  • Exterior rendering of Vesta in South Boston
  • Google Maps view of Vesta in South Boston
HOMEOWNERSHIP LOTTERY

Vesta

256 Dorchester Street South Boston, MA 02127

Vesta is a luxury condo development located in South Boston's emerging Dorchester Street corridor. It is located at the former home of Bell's Market, South Boston's well known neighborhood grocery store. 5 of the units are designated as income-restricted and will be sold to households making at or below 80% AMI, 100% AMI, or 120% AMI (Area Median Income).

FEATURES

Elevator
On-Site Parking (additional fees apply)
Common Rooftop Deck (with grills and seating areas)
Sky Club Room (with wet bar and lounge)
Rooftop Pet Run
Access to Bell's Market

https://www.maloneyaffordable.com/wp-content/uploads/2024/06/Vesta-Common-Rooftop-Deck.png

NEIGHBORHOOD

Vesta is located in bustling South Boston adjacent to Washington Village. Vesta is also within close proximity to dozens of restaurants, parks, national landmarks, & swimmable beaches: MBTA Red Line stop at Andrew Square 0.5 miles, MBTA Red Line stop at Broadway stop 0.9 miles, adjacent to Bus Lines 5, 10, & 11, Foodies Grocery Store 0.7 miles, Ink Block Whole Foods 1.4 miles. Vesta is located near the many shopping and dining destinations located along East Broadway and West Broadway and 1.3 miles from Boston's Seaport District.

JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY

  • Program: Boston and Planning Development Agency (BPDA)
  • Number of Income-Restricted Condominiums: 5 (One, 80% 1-Bedroom Unit One, 80% 2-Bedroom Unit, Two, 100% 2-Bedroom Units, & One, 120% 2-Bedroom Unit)
  • Condominium Sizes: 1-Bedroom & 2-Bedroom
  • Income-Restricted, ADA-Accessible Condominiums: 2 (One, 80% 1-Bedroom Unit & One, 100% 2-Bedroom Unit built out for Households with Mobility Impairments)
  • Maximum Income Limits: 80% AMI, 80%-100% AMI, & 100%-120% AMI (Area Median Income)
  • Asset Limit: $100,000 (80% AMI, 100% AMI, & 120% AMI)

Asset Limit does not include retirement but does include the assessed value of real estate owned by applicants.

Income and purchase price limits are determined by the BPDA on an annual basis. To find out more about the current year’s limits, please visit this link.

Current Condo Listings

Property# BedsPriceIncome Limit (AMI)Units AvailableAccessible Units
Vesta2-Bedroom (ADA-M Unit)$334,70080% (Minimum) - 100% (Maximum)1 (ADA-M Unit)1 Unit built out for Households with Mobility Impairments
68 Church Green Townhomes2-Bedroom$282,000100%220
Cable Mills1-Bedroom$155,00080%20
The Preserve at Olmsted Green 2-Bedroom (ADA-M Units)$275,00080%2 (ADA-M Units)2 Units built out for Households with Mobility Impairments
The Preserve at Olmsted Green 3-Bedroom (ADA-M Units)$300,00080%4 (ADA-M Units)4 Units built out for Households with Mobility Impairments

BPDA Income Limits for 2024

Household Size70% AMI80% AMI90% AMI100% AMI110% AMI120% AMI150% AMI
1 Person$80,010$91,440$102,870$114,300$125,730$137,160$171,450
2 Person $91,420$104,480$117,540$130,600$143,600$156,720$195,900
3 Person$102,830$117,520$132,210$146,900$161,590$168,940$220,350
4 Person$114,240$130,560$146,880$163,200$179,520$187,680$244,800
5 Person$123,410$141,040$158,670$176,300$193,930$202,750$264,450
6 Person$132,580$151,520$170,460$189,400$208,340$217,810$284,100

NEXT STEPS

The next step is to request an application.

Request Application

APPLICATION DISTRIBUTION PERIOD:
–

APPLICATION DEADLINE:
 

 

For a list of First-Time Homebuyer Best Practices, please follow this link

Email: Vesta@MaloneyProperties.com Phone: (617) 531-7123 Ext 701 | US Relay 711

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.

LOTTERY PROCESS

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 factors.

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.

Property Questions:

What are the condo fees? 80% 1-Bedroom Unit: $85/month, 80% 2-Bedroom Unit: $100/month, 100% 2-Bedroom Units: $130/month, & 120% 2-Bedroom Unit: $160/month.

What utilities/services are included in the condo fee? Elevator, rooftop maintenance, exterior maintenance, snow removal, & water/sewer. Owner is responsible for all other utilities including gas (heating/cooling, hot water, cooking, & laundry), electricity (general electricity), & cable/internet (optional).

Is the stove electric or gas? Gas.

Is the washer/dryer included? Yes. In-unit (Gas).

Is parking available? There are 19 garage parking spaces available, including 2 accessible spaces, to purchase on a first-come, first-served basis for an estimated $100,000-$120,000. There is also residential street parking with a Resident Parking Permit from the City as well as metered spaces on the street(s) surrounding the property.

Is storage available? Additional storage is not included nor available to rent/purchase.

What is the pet policy? Pets are allowed.

If you have additional questions about this property, please contact us using the form or contact information below.

Tel: (617) 531-7123 Ext 701 – US Relay 711
Email: Vesta@MaloneyProperties.com