339 West Broadway
BPDA income-restricted rental opportunity featuring 2 one-bedroom units in the highly desired South Boston neighborhood. This property is newly built and just a short walk from popular restaurants and shops with access to public transportation.
THE DEADLINE FOR THIS LOTTERY WAS:
October 26, 2021
Thank you for your interest in 339 West Broadway. Click below to see our current affordable apartment rental opportunities.
If you applied to this lottery, Maloney will contact you by email with regular status updates after the lottery drawing. If you did not provide an email address, we’ll contact you by USPO at the mailing address you provided.
Stainless Steel Appliances
Heating/ Air Conditioning
This neighborhood has the makings to fit any lifestyle. Within walking distance, there are top rated restaurants, salons, dog spas, and parks. 339 West Broadway is a 7-minute drive to M Street beach. Additional transportation options include Broadway Station, located a half-mile from 339 W Broadway as well as Logan International Airport which is under 10 minutes away.
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 that 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 not 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.
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.
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.
I’ve heard that there is an asset cap. What is the cap?
The asset cap applies to households who are interested in renting or purchasing an income-restricted/affordable home. For units targeted to households at or below 80% of Area Median Income, the combined total assets of the household cannot exceed $75,000. For a household applying for a unit above the 80% income category, the combined total assets of the entire household cannot exceed $100,000. All liquid assets and real property are counted towards the cap except government approved college savings accounts, HSA accounts, and qualified retirement plans such as 401(k) plans, other IRA’s, Keogh plans, and pension plans, unless they are being liquidated to purchase a property. Applicants for affordable rental units can exceed the asset limitations if all of the household members are over the age of 65 years. In this instance, a household can have combined assets, including all retirement funds, of no more than $250,000. Real estate is valued by the current assessed value of real estate by the municipality or county. An individual’s actual equity in real estate is not considered.
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.