Applications now open for nine income-restricted apartments at 154 Broadway, Somerville

On July 11, 2024, in Latest News, by The Somerville Times

Application Period Closes at 5:00 p.m. on Thursday, August 1, 2024

Mayor Katjana Ballantyne and the Somerville Office of Strategic Planning and Community Development (OSPCD) are pleased to announce that applications are currently being accepted for nine (9) income-restricted apartments at The Guild, located at 154 Broadway. Applications will be accepted until 5:00 p.m. on Thursday, August 1.

The Guild consists of nine inclusionary rental units designated for households making at or below 50% AMI, 80% AMI or 110% AMI (Area Median Income). Please note that no utilities included in rent. All utilities are paid for by the tenant (gas is not a utility at this property).

All applications will be reviewed by Maloney Properties. To download an application and learn more, please visit The Guild’s website.

Please see below for more information on the units available.

# of Units	Unit Size	Square Feet	AMI	Rent	# Built Out for Mobility Impairments	# Built Out for Hearing Impairments
3	Studio	385-440	50%	$748		1
1	Three-Bedroom	1,123	50%	$874	3
3	Studio	356-448	51-80%	$1,418
1	Studio	440	81-110%	$2,088
1	Three-Bedroom	1,121	81-110%	$2,884

Minimum Income Limits for 50% AMI
*Unit Size*	*AMI*	*Household*
Studio	50%	$21,442
Three-Bedroom	50%	$32,163

Maximum Income Limits (Set by HUD, Based on Household Size and AMI
*Household Size*	*50% AMI*	*51-80% AMI*	*81-110% AMI*
1	$57,100	$57,101-$91,200	$91,201-$125,164
2	$65,300	$65,301-$104,200	$104,201-$143,616
3	$73,450	$73,451-$117,250	$117,251-$161,568
4	$81,600	$81,601-$130,250	$130,251-$179,520
5	$88,150	$88,151-$140,700	$140,701-$193,882
6	$94,700	$94,701-$151,100	$151,101-$208,243