THE MALDEN ADVOCATE–Friday, November 6, 2026 Page 5 AWARDS | FROM PAGE 1 tion of mixed-income homes in the next phase of the Overlook development. The MassWorks grants will fund the redesign and construction of the intersection of Overlook Ridge Drive and Salem Street to make the roadway safer and significantly improve traffic flow for pedestrians, bicyclists and vehicles. Additionally, the project will connect the shared use path along Overlook Ridge Drive to the Northern Strand Community Trail and will create MBTA Bus Stops on both sides of Salem Street. "Our administration is all about building more housing to lower costs and improving transportation to make life better for residents,” said Governor Maura Healey. “We’re proud to deliver $11 million to support more than 600 new homes in Malden and Revere, while making major improvements to the Overlook Ridge Drive and Salem Street intersection to reduce congestion and improve safety. We’re grateful to Mayor Christenson, Mayor Keefe and WinnDevelopment for their continued partnership and leadership in strengthening these communities.” The second state grant, $7 million from the HousingWorks Infrastructure Program, will fund extraordinary site costs, including blasting, earthwork, roads and utilities to facilitate the development of 51 affordable homeownership condominiums on the Overlook property. Malden has been materially underserved by homeownership programs despite being an eligible Gateway City with only five income-restricted homeownership units funded in the city to date. The 51 homes are designed for working families, serving households earning up to 80% and 120% of Area Median Income (AMI) with more than half offering two or more bedrooms. “This investment is transformative for Malden and the entire region,” said Mayor Gary Christenson. “The Commonwealth’s commitment to this project demonstrates the importance of pairing housing production with infrastructure investments. These funds will allow us to move forward with long-needed roadway and safety improvements while creating hundreds of new homes, including affordable and workforce housing opportunities for residents. We are grateful to the Healey-Driscoll Administration for delivering on behalf of residents of Malden.” The Commonwealth’s investment is seen as the key to the financial feasibility of the development of 617 units of housing across four development parcels: ● 51 workforce condominiums available to households earning between 80 and 120% of AMI — the first homeownership opportunity in Overlook Ridge’s 20year history ● 99 mixed-income apartment homes for adults ages 55 and older ● 157 mixed-income apartments designed for families ● 310 mixed-income rental units “These grants represent a significant step towards the redevelopment of these parcels at Overlook Ridge,” said WinnDevelopment President Adam Stein. “We are grateful for the efforts of the city of Malden and the Commonwealth’s support of this project so we can deliver much-needed rental and for sale housing for households of all ages and incomes.” Overlook Ridge is a large-scale, master-planned development spanning the cities of Malden and Revere and built on the site of a former rock quarry that has been transformed into a nearly 1,977-unit residential community over two decades. Every unit constructed to date is market-rate rental. This next phase of construction will introduce much-needed affordable housing into the development, which is an opportunity for families and seniors to live in high-quality homes close to downtown Boston and proximate to key transportation links. The phase is being carried out as a joint effort between WinnDevelopment and AC Residential LLC to complete the original vision for the master-planned community to construct affordable apartment homes and condominiums. The investment is expected to generate approximately 1,400 construction jobs, 140 permanent jobs and an estimated $2.2 million in annual local tax revenue at full buildout. The project is located within an Environmental Justice area and will expand access to housing opportunities while enhancing transportation safety and accessibility for residents, pedestrians, cyclists, seniors and people with disabilities. Administered by the Massachusetts Executive Office of Housing and Livable Communities (EOHLC), the program awards competitive grants to municipalities for a variety of infrastructure projects associated with housing development. Funds are awarded based on a project’s nexus with housing, transportation, infrastructure and community development needs. As the development arm of Boston-based WinnCompanies, WinnDevelopment creates and revitalizes high-impact mixed-income apartment properties through award-winning new construction, renovation and adaptive reuse techniques. Learn more at WinnDevelopment.com. Like us on Facebook advocate newspaper Facebook.com/Advocate.news.ma Lawrence A. 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