281 Franklin Street
281 Franklin Street is an office-to-residential development consisting of 15 units. 3 of the units will be designated as income-restricted and rented to households earning at or below 60% AMI (Area Median Income).
FEATURES
Elevator
NEIGHBORHOOD
Downtown Boston is a loose term that encompasses the areas of the Financial District, Government Center, & Downtown Crossing. The neighborhood is also sometimes referred to as Midtown. The downtown (or midtown) designation serves as less of a geographical description than an acknowledgement of its status as Boston’s commercial and business hub. 281 Franklin is situated between office buildings and downtown’s iconic landmarks, like Faneuil Hall and Quincy Market. The central location of downtown is its biggest draw and it’s just a short walk to offices in the Financial District or Tufts Medical Center. Downtown Boston also has stops on the T’s Red Line, Green Line, and Orange Line, making it a quick ride to anywhere in the city.
281 Franklin Street is close to the following points of interest:
0.4 miles to the Blue Line Aquarium T-Stop
0.1 miles to Bus stop #4
0.6 miles to MBTA train stop (orange and green lines) at Park Street
0.4 miles to the New England Aquarium
0.4 miles to Boston City Hall
JOIN OUR COMMUNITY / PRICING AND ELIGIBILITY
Minimum income limits apply unless the household receives mobile housing assistance (including, but not limited to: VASH, Section 8, and MRVP)
- Program: Boston Planning and Development Agency (BPDA)
- Number of Income-Restricted Apartments: 3 (Two, Studio Units & One, 1-Bedroom Unit)
- Apartment Sizes: Studio & 1-Bedroom
- Income-Restricted, ADA-Accessible Apartments: 1 (One, Studio Unit built out for Households with Mobility Impairments)
- Maximum Income Limit: 60% AMI (Area Median Income)
- Asset Limit: $75,000
Asset Limit does not include retirement but does include the assessed value of real estate owned by applicants.
Income and rent 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 Rental Availability
| Property | # Beds | Rent | Minimum Income | Income Limit (AMI) | Units Available | Accessible Units |
|---|---|---|---|---|---|---|
| Vesa | 1-Bedroom | $2,341 | $70,230 | 80% | 12 | 3 Units built out for Households with Mobility Impairments |
| Vesa | 2-Bedroom | $2,543 | $76,290 | 80% | 12 | 3 Unit built out for Households with Mobility Impairments |
| Vesa | 3-Bedroom | $2,712 | $81,360 | 80% | 4 | 1 Unit built out for Households with Mobility Impairments |
| 281 Franklin Street | Studio | $1,175 | $35,250 | 60% | 2 | 0 |
| 281 Franklin Street | 1-Bedroom (ADA-M Unit) | $1,378 | $41,340 | 60% | 1 (ADA-M Unit) | 1 Unit built out for Households with Mobility Impairments |
| 366 Broadway | Studio | $2,117 | $63,510 | 80% | 2 | 0 |
| 366 Broadway | 1-Bedroom | $2,395 | $71,850 | 80% | 1 | 0 |
| 366 Broadway | 2-Bedroom | $2,652 | $79,560 | 80% | 1 | 0 |
| Grove Street Landing | 1-Bedroom | $2,391 | $71,730 | 80% | 2 | 0 |
| Grove Street Landing | 2-Bedroom | $2,649 | $79,470 | 80% | 2 | 0 |
| The Basin | Studio | $2,051 | $54,146 | 80% | 1 | 0 |
| Essex Street Lofts | 1-Bedroom | $1,685 | $50,550 | 80% | 2 | 0 |
| West Of Center Apartments | 2-Bedroom | $1,966 | $58,980 | 80% | 1 | 0 |
| Oriole Landing | 1-Bedroom | $2,100 | $63,000 | 80% | 2 | 0 |
| 600 North Ave | 2-Bedroom | $2,694 | $96,984 | 80% | 1 | 0 |
| The Cove | 1-Bedroom | $2,248 | $67,440 | 80% | 2 | 0 |
| Essex Landing | 1-Bedroom | $2,100 | $63,000 | 80% | 3 | 0 |
| Jefferson Station | 1-Bedroom | $2,290 | $68,700 | 80% | 3 | 1 Unit built out for Households with Mobility Impairments |
| Jefferson Station | 2-Bedroom | $2,714 | $81,420 | 80% | 2 | 1 Unit built out for Households with Mobility Impairments |
| Prynne Hills | 1-Bedroom | $2,390 | $71,700 | 80% | 4 | |
| Prynne Hills | 1-Bedroom | $2,383 | $71,490 | 80% | 1 | 1 Unit built out for Households with Mobility Impairments |
| Prynne Hills | 2-Bedroom | $2,685 | $80,550 | 80% | 2 | 0 |
| The Overlook at St. Gabriel's | 1-Bedroom | $3,079 | $92,370 | 150% | 3 | 0 |
| The Overlook at St. Gabriel's | Studio | $2,833 | $84,990 | 150% | 1 | 0 |
| Tremont | 1-Bedroom (ADA-H Unit) | $2,476 | $74,280 | 80% | 1 (ADA-H Unit) | 1 Unit built out for Households with Hearing Impairments |
| Tremont | 2-Bedroom | $2,746 | $82,380 | 80% | 1 | 0 |
| Huntington | 1-Bedroom | $2,508 | $75,240 | 80% | 1 | 0 |
| Halstead Burlington | Studio | $2,050 | $55,350 | 80% | 2 | 0 |
| Halstead Burlington | 1-Bedroom | $2,500 | $67,500 | 80% | 1 | 0 |
| Halstead Burlington | 2-Bedroom | $2,800 | $78,300 | 80% | 1 | 0 |
| Ellington | 2-Bedroom | $1,978 | $59,340 | 80% | 1 | 0 |
| Lux | 1-Bedroom | $1,998 | $59,430 | 80% | 1 | 0 |
| Lux | 2-Bedroom | $2,381 | $71,430 | 80% | 1 | 0 |
| 7Ink | Single Room Occupancy (SRO) | $1,214 | $36,420 | 70% | 6 | 0 |
| Gateway at Millis | 2-Bedroom | $2,472 | $74,160 | 80% | 2 | 1 Unit built out for Households with Mobility Impairments |
| Tidewater | 2-Bedroom | $2,298 | $68,940 | 80% | 1 | 0 |
| 436 Washington Street | 1-Bedroom | $1,900 | $57,000 | 80% | 5 | 0 |
| Oxbow Wayland | 2-Bedroom (55+ Age-Restricted Unit) | $2,683 | $80,490 | 80% | 1 (55+ Age-Restricted Unit) | 0 |
| Portside | 2-Bedroom | $4,060 | $121,800 | 150% | 1 | 0 |
| 80 Bridge | 1-Bedroom | $2,206 | $66,180 | 80% | 1 | 0 |
| 302 Broadway | 1-Bedroom | $2,295 | $68,850 | 80% | 1 | 0 |
| 525 Linc | Single Room Occupancy (SRO) | $1,138 | $34,140 | 70% | 2 | 0 |
| 525 Linc | Single Room Occupancy (SRO) | $1,607 | $48,210 | 100% | 1 | 0 |
| The Andi | 2-Bedroom | $1,837 | $55,110 | 70% | 3 | 0 |
| The Andi | Studio | $1,383 | $41,490 | 70% | 1 | 0 |
| The Nines | 1-Bedroom | $2,481 | $74,430 | 80% | 1 | 0 |
| The600 | 1-Bedroom | $2,100 | $63,000 | 80% | 1 | 0 |
BPDA Income Limits for 2024
| Household Size | 70% AMI | 80% AMI | 90% AMI | 100% AMI | 110% AMI | 120% AMI | 150% 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
APPLICATION DISTRIBUTION PERIOD: July 14, 2025 – July 30, 2025
APPLICATION DEADLINE: July 30, 2025
To download a pdf application to be mailed, faxed, or dropped off, please follow this link
Join the Tuesday, July 22, 2025 3PM Information Session HERE
Email: 281Franklin@MaloneyProperties.com Phone: (617) 639-3064 Ext 784 | US Relay 711
LOTTERY PROCESS
Applications will be distributed between the dates stated above. Applications will be made available online, by mail, and in person during the scheduled distribution times. Applicants who prefer to submit a hard copy of the application (versus the online application) are required to mail the completed application back to Maloney Properties, Inc. The application must be postmarked on or before the application deadline date. Applications will also be accepted by email.
1. Applicants who submit a complete application by the deadline will then be entered into the lottery.
2. All applicants will receive an application number.
3. The application number is used for the lottery to keep the identity of applicants confidential.
4. Maloney Properties will then conduct a lottery and each applicant will then be assigned a lottery number (lottery #1 being first).
5. Following the lottery, we will then show the units to the top applicants based on the lottery number and preferences. At this stage, we will begin to request supporting documentation (paystubs, bank statements, taxes, etc.).
Please note that entry in the Lottery Drawing does not constitute qualification or eligibility. Applicant’s eligibility will be determined post-lottery.
INCOME & ELIGIBILITY QUESTIONS / FAQ
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.
LOTTERY QUESTIONS / FAQ
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.
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.
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 – not just the Lottery Number.
PROPERTY & COMMUNITY QUESTIONS / FAQ
Property Questions:
What are the move-in fees? First month’s rent (prorated) & a security deposit equal to one month’s rent.
What utilities are included in the rent? Water/Sewer. Tenants are responsible for all other utilities, including electricity (heating/cooling, hot water, cooking, & laundry), & cable/internet (optional). Gas is not a utility at this property.
Is the stove electric or gas? Electric.
Is the washer/dryer included? Yes. In-Unit (Electric).
Is parking available? Additional parking is not included nor available to rent/purchase. There is residential parking on the street available to people with a Resident Parking Permit from the City. There are also 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 with a maximum of 1 pet per apartment.
If you have additional questions about this property, please contact us using the form or contact information below.
Email: 281Franklin@MaloneyProperties.com