Page 10 THE MALDEN ADVOCATE–Friday, March 14, 2025 Malden’s Affordable Housing Trust Fund Makes Award Toward Senior Rental Project Special to The Advocate M ALDEN – Mayor Gary Christenson and Malden’s Affordable Housing Trust Fund Board recently awarded funds towards a housing project at Overlook Ridge that will bring 79 units of affordable apartments for households 55 and older. This project is the first of three mixed-income housing developments WinnDevelopment proposes to construct at Overlook Ridge. The project at Lot 13B at Overlook Ridge was awarded $349,166.52 from Malden’s Affordable Housing Trust Fund during their February meeting. The Trust awarded funds it received through its ongoing partnership with the Community Preservation Committee (CPC), which provides funds for affordable housing to the Trust each year. The 13B project is a mixed-income, senior rental project for heads of household fifty-five and above. The project is being carried out by WinnDevelopment as part of the master redevelopment of Donate Your Vehicle Call (866) 618-0011 to donate your car, truck, boat, RV, and more today! ■ Support Veteran Nonprofi ts. ■ Free Pickup & Towing. ■ Top Tax Deduction. Donate Your Vehicle Today 866-618-0011 www.veterancardonations.org/dnt122 While we appreciate every donation, in some cases, we fi nd that we are unable to accept certain vehicles, watercraft, and/or recreational vehicles due to the prohibitive costs of acquisition. If you have any questions, please give us a call at (866) 618-0011. the former Rowe’s Quarry, also known as Overlook Ridge. Ninety-nine age-restricted one- and two-bedroom units will be constructed in total, including 61 units restricted to those making up to 60% of the Area Median Income (AMI), 18 units restricted to those making up to 30% AMI, and 20 units at market rate. “The City has worked tirelessly to address the need for affordable housing opportunities for Malden residents, including our seniors and their families. This project is the first of three parts of a once in a generation opportunity to build hundreds of units of affordable housing that will help our residents through the housing crisis,” said Mayor Gary Christenson. “I’m grateful to Councillor Jadeane Sica, the Community Preservation Committee, WinnDevelopment, and City staff for their commitment to this important project.” “This project will bring much-needed affordable housing for seniors to Ward 8, helping our residents age in place,” said Ward 8 City Councillor Jadeane Sica. “I’m proud to support this project and future phases, which together will bring a range of affordable housing options to the neighborhood.” “I am thrilled that the Community Preservation Act funds will directly address the City’s need for affordable, senior housing by helping our elder residents remain in Malden,” said CPC Chair Rachael Running. “This is the second affordable housing project awarded funding as a result of the CPC’s ongoing partnership with the Trust, and we are eager to continue this partnership to help make Malden a more affordable community where our residents can put down roots, grow and thrive.” Construction on the project is expected to begin in early 2026, with new residents anticipated in late 2027. For more information and to subscribe to future updates, please visit cityofmalden.org/overlook. Law Offices of JOSEPH D. CATALDO, P.C. “ATTORNEYS AND COUNSELORS AT LAW” • ESTATE/MEDICAID PLANNING • WILLS/TRUSTS/ESTATES • INCOME TAX PREPARATION • WEALTH MANAGEMENT • RETIREMENT PLANNING • ELDER LAW 369 Broadway Everett, MA 02149 (617)381-9600 JOSEPH D. CATALDO, CPA, CFP, MST, ESQUIRE. AICPA Personal Financial Specialist Designee
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