Ownership and Management

How are residents selected? Do current Cambridge residents have any priority?

Current Cambridge residents and certain others will have priority to apply to 70% of the apartments.

Resident screening will follow all federal and state fair housing laws in addition to the requirements specified by the Cambridge Community Development Department and the Massachusetts Department of Housing and Community Development.

Prior to construction completion, there will be a random public lottery that will determine the order in which future residents will be screened. The development team’s Frost Terrace apartment community is currently accepting applications for its lottery, visit www.FrostTerApts.com for more information.

Who will manage the community once it opens and for how long will you own the building?

Capstone and Hope will be hiring a professional property management company that specializes in multi-family affordable housing. Capstone and Hope opened the 100% affordable Port Landing apartment community in The Port (Cambridge) in 2016. Port Landing is currently managed by Trinity Management Company, a highly respected management company that currently manages over 6,000 market rate and affordable apartments and over 538,500 square feet of commercial space. Trinity Management is also managing the lease-up and management for Frost Terrace. Under the various affordable housing subsidy programs, Capstone and Hope are required to own 2072 Mass Ave for a period of no less than 10-15 years after the development is completed. This long-term ownership requirement ensures that Capstone and Hope have a vested interest in constructing a high quality and sustainable apartment community.