A six-story affordable apartment building will replace the vacant commercial building at 24 Webster Ave. in Somerville’s Union Square. MassHousing and Just A Start closed financing for the project in February and anticipate construction will wrap up in late 2027.

The development aims to offer an affordable option in Somerville, a city known for its vibrant arts scene and pricey housing market. A new Green Line station in the city may only increase demand by providing residents with easier access to Boston.

Studio, one-bedroom, two-bedroom and three-bedroom units will span the building’s six floors. The mid-rise will also feature bicycle storage, a property manager’s office, community room and indoor and outdoor common spaces.

Eight of the units will be subsidized with project-based Section 8 vouchers and reserved for those earning up to 30% of area median income, while the remaining 35 units will be restricted to households earning up to 60%.

“In a city of four-square-miles, the transformation of 24 Webster is a great example of strategically using our existing space to deliver critical housing inventory,” Somerville Mayor Jake Wilson said in a press release. “I look forward to building on this momentum with our community partners and making sure we keep creating opportunities for making, or keeping, Somerville your home.”