Essex Lofts, Income Restricted Apartments, are a new construction development situated in the heart of downtown Salem. These units feature an open floor plan, cathedral windows, and modern kitchen with an island. Unit comes with in-unit laundry, parking, gym located in building, lobby with a centrally located elevator. This beautiful building is heart of Salem, walk out you're building and enjoy the sights of Salem, walking distance to T-station, restaurants, Museums, shopping and Marina.
Elevator in Lobby
In Unit washer and dryer
Walking distance to T- Station
Historic Downtown Salem is an iconic neighborhood with a plethora of tourist attractions based around the historic Salem Witch Hunt and Trials. Tour the Salem Witch Museum for an intriguing presentation of the history of the 20 innocent people put to death during the Witch Hysteria of 1692. Venture to 17th century Salem in the home of Witch Trials Judge Johnathan Corwin at the Witch House. Based on Salem’s rich history, the Hocus Pocus Tours is a major attraction where you can discover the Salem locations used in the iconic movie Hocus Pocus.
Deterring from the witch craze, Downtown Salem houses the Peabody Essex Museum with beautiful art exhibits as well as delicious local restaurants. Try the Howling Wolf Taqueria for unique Mexican cuisine with the freshest ingredients made from scratch daily. Nestled in the center of historic downtown, Tavern in the Square offers the largest outdoor patio on the North Shore and was voted #1 Sports Bar on the North Shore, as well.
FIRST COME, FIRST SERVED / PROCESS
Please note, this is not a lottery. Applications for Essex Lofts are processed on a first come, first served basis, as apartments become available.
If there is no current availability, applications are added to the waiting list and are reviewed upon receipt to ensure completion and proper documentation only. Applications will then be reviewed for eligibility when they are reached on the waiting list.
Applicants will be emailed upon receipt of their application and upon each application review. Please check your email regularly.
JOIN OUR COMMUNITY / AVAILABILITY & ELIGIBILITY
Essex Lofts is a mixed-income community offering affordable apartment rentals. Eligibility and income restrictions apply. Find current availability and income limits in the table below.
Minimum income limits apply unless the household receives mobile housing assistance (including, but not limited to: VASH, Section 8 and MRVP).
- Program: 40B
- Number of income-restricted apartments: 2
- Apartment sizes: 1 bedroom, 2 bedroom
- ADA accessible apartments: 1- Two- bedroom
- Maximum Income limits: 80% AMI (Area Median Income) – based on HUD limits
- Asset limit: No asset limit for 40B
Current Rental Availability
|Property||# Beds||Rent||Minimum Income||Income Limit (AMI)||Units Available||Accessible Units|
|2-10 Maverick Square||1-Bedroom||$1,559||$46,770||70%||2||0|
|2-10 Maverick Square||2-Bedroom (ADA-M Unit)||$1,766||$52,980||70%||1||1 unit built out for Households with Mobility Impairments|
|105 Washington Residences||1-Bedroom (ADA-H Unit)||$1,559||$46,770||70%||1||1 unit built out for Households that are Deaf/Hard of Hearing|
|The Bon||Micro 2-Bedroom||$2,638||$79,140||120%||1||0|
|Cable Mills||2-Bedroom Condo||$185,000 (Purchase Price)||-||80%||1||0|
|Waterstone of Lexington||1-Bedroom (Assisted Living)||$3,915||1-Person HH - $58,725, 2-Person HH - $67,125||80%||2||0|
|Waterstone of Lexington||1-Bedroom (Independent Living - Rent)||$2,983.33||$59,666.60||80%||9||0|
|Waterstone of Lexington||2-Bedroom (Independent Living - Rent)||$3,356.67||$67,133.20||80%||5||0|
|Haywood House||1-Bedroom (Age-Restricted - 62+ all members of household)||$1,929||57,870||99%||5||0|
|Gateway at Millis||1-Bedroom||$2,221||$66,630||80%||1||0|
|Gateway at Millis||2-Bedroom||$2,472||$74,160||80%||1||0|
|176 - 178 Washington||1 - Bedroom||$2,004||$60,120||80%||1||0|
2023 HUD Income Limits
The next step is to request a rental application, and then complete and submit your application. Applications will be processed on a first-come, first-served basis. If there is no current vacancy, you’ll be added to our waitlist in the order received.
Email: EssexLofts@MaloneyProperties.com Phone: (617) 639-3064 Ext 754
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.
PROPERTY & COMMUNITY QUESTIONS / FAQ
What utilities are included in the rent? Water
Is the stove electric or gas? Electric
Is the washer/dryer included? Yes, electric
Is parking available? N/A
Is storage available? N/A
What is the pet policy? Pets allowed
Is there a monthly pet fee? $150 one time fee, per pet ( charged first month of rental term)
If you have questions about this property, please contact us.