Somerville inclusionary homeownership opportunity at One Inman Square

On August 21, 2026, in Latest News, by The Somerville Times

Apply by Monday, September 14

Applications are now open for the sale of six deed-restricted condominiums at One Inman Square (121 Prospect St.) to eligible, first-time homebuyers. Units will be sold at below market price through the City of Somerville’s Inclusionary Housing Program.

One-, two-, and three-bedroom units are available and will be offered to households with a yearly gross income at or below 80% of Area Median Income (AMI) at price tier P1, to households between 80% and 110% AMI at price tier P2, and to households between 110% and 140% AMI at price tier P3.

Unit Number and Tier:	Sale Price:	Minimum 3% Down Payment:	Estimated Initial Condo Fee:
121 Prospect #102 (1-Bedroom at 80% AMI)	$210,093	$6,302.79	$133.58
121 Prospect #107 (2-Bedroom at 80% AMI)	$256,244	$7,687.32	$239.13
121 Prospect #103 (3-Bedroom at 80% AMI)	$297,830 (with parking) $247,830 (no parking)	$8,934.90 (with parking) $7,434.90 (no parking)	$265.52
121 Prospect #205 (1-Bedroom at 80%-110% AMI)	$311,857	$9,355.71	$212.74
121 Prospect #303 (3-Bedroom at 80-110% AMI)	$400,855 (incl. parking) $350,855 (no parking)	$12,025.65 (with parking) $10,525.65 (no parking)	$277.06
121 Prospect #207 (2-Bedroom at 110-140% AMI)	$467,297 (incl. parking) $417,297 (no parking)	$14,018.91 (with parking) $12,518.91 (no parking)	$239.13

Annual Gross Income Limits	*1 person*	*2 persons*	*3 persons*	*4 persons*	*5 persons*
Tier P1 (maximums) 80% AMI:	$96,000	$109,700	$123,400	$137,100	$148,100
Tier P2 80%-110% AMI:	$96,001 – $131,978	$109,701 – $150,832	$123,401 – $169,686	$137,101 – $188,540	$148,101 – $203,623
Tier P3 110%-140% AMI	$131,979 – $167,972	$150,833 – $191,968	$169,687 – $215,964	$188,541 – $239,960	$203,624 – $259,157

How to Apply:

Apply now through 5 p.m. on Monday, September 14.

Pre-lottery applications are available online at somervillema.gov/inclusionaryhousing or apply now at maloneyaffordable.com/condominiums/one-inman-square/ .

Completed applications can be emailed to oneinmansquare@maloneyproperties.com, or mailed or delivered to Maloney Properties, Inc. Attn: One Inman Square Lottery, 27 Mica Lane, Wellesley, MA 02481.

For more information on the City’s Inclusionary Housing Program, visit somervillema.gov/inclusionaryhousing.

More About One Inman Square:

One Inman Square is a mixed-income development located in Somerville, MA, consisting of 32 condominiums. Six units will be designated as income-restricted. Affordable units will not have any difference in finishes from the market-rate units. Each kitchen shall be equipped with a refrigerator, stove, dishwasher, and microwave. In addition, all units will have an electric washer and dryer in the unit. Owners will be responsible for all utilities, which include electricity (heating/cooling, hot water, cooking & general). Cable & Internet are optional utilities at this property. Buyers of Inclusionary units 103, 207, and 303 shall have a right of first refusal to purchase a parking space at a reduced cost. This development also includes six bicycle spaces that will be reserved for Inclusionary households.

-City of Somerville