The 28 income-restricted condominiums at 440 Broadway in Bellingham Square are finished, and 16 of them are still for sale, according to the listing posted by the building’s sales agent. Prices run from $266,000 for a one-bedroom to $385,000 for a three-bedroom.
The city celebrated the building on Facebook this weekend, calling it “a great example of the exciting possibilities ahead” for downtown Chelsea. “Once a vacant building in the heart of downtown, 440 Broadway has been transformed into 28 affordable homeownership condominiums,” the post said.
Who can buy and what it costs
Every unit is sold to a household under an income limit. Half are for households earning up to 80 percent of the area median income and half for households earning up to 100 percent. The sales agent is ACRES, formerly the brokerage division of Maloney Properties. As of Sunday, its listing showed these units available:
- One-bedroom: four at $266,000 (80 percent) and four at $299,000 (100 percent)
- Two-bedroom: one at $301,500 (80 percent) and four at $339,000 (100 percent)
- Three-bedroom: two at $337,000 (80 percent) and one at $385,000 (100 percent)
For the 80 percent units, the 2026 federal income limit for the Boston area is $96,000 for one person, $109,700 for two people, $123,400 for three and $137,100 for four, according to the table on the listing. Buyers can have no more than $155,000 in assets. Retirement accounts do not count toward that limit, but real estate the buyer already owns does.
Condo fees are estimated at about $336 to $487 a month, depending on the unit, and cover water and sewer, trash, snow removal, insurance and common areas. Owners pay for their own electricity; the building has no gas, and stoves are electric. There are 19 garage spaces for sale at $20,000 each, first come, first served, with $50 a month added to the condo fee. Owners will not be eligible for residential parking stickers. Pets are allowed, up to two per unit under 50 pounds each. Two units are built out for people with mobility impairments.
Questions go to the sales agent at (617) 639-3064, extension 729, or [email protected]. The listing is on the ACRES website.
How the city got here
The site, once home to the Salvation Army, was bought by the city in 2017 and later turned over to a developer. Causeway Development, led by Dave Traggorth, built the five-story project. Its financing, announced by MassHousing in January 2025, included $9.9 million from the state’s CommonWealth Builder program, a $9.3 million construction loan from Eastern Bank, $1 million in the city’s federal American Rescue Plan Act money and $800,000 from the North Suburban HOME Consortium. The building was designed to Passive House energy standards.
The ground-floor commercial space goes back to the city, which is turning it into a teen center that the Boys & Girls Club of Boston will run. In March the City Council moved $625,000 left over from a dropped City Hall attic project to build out that space, and this month the state awarded another $250,000 toward the teen center.
City Manager Fidel Maltez has called 440 Broadway “a model for publicly owned land,” and the city wants to repeat it at the city-owned parking lot at 212 Chestnut Street, where it plans to give the land to a developer who will build affordable homes to buy.