affordable housing

affordable housing, housing lotteries, Long Island City

The Hayden, affordable housing, Long Island City rentals,

Rendering of the Hayden, courtesy of Rockrose Development

The second batch of affordable apartments is now available at the Hayden, a 50-story, 924-unit highrise in the blossoming neighborhood of Long Island City in Queens. Designed by SCLE Architects, the building at 43-25 Hunter Street features amenities like a fitness center, yoga room, basketball court, rooftop solarium, screening room, library and more. Qualifying New Yorkers earning between $34,355 and $57,240 can apply for $947 per month studios, $1,017 per month one-bedrooms and the $1,230 per month two-bedrooms.

Find out if you qualify

affordable housing, Policy, real estate trends

NYC affordable housing

Photo via Wiki Commons

Despite making affordable housing a policy priority, Mayor Bill de Blasio’s plan falls short for the poorest New Yorkers, a new study says. The report, released by the Real Affordability for All (RAFA) coalition last week, says low- and moderate-income households across the city face a worsening affordability crisis (h/t DNAinfo). Although the city’s lowest earners experience the largest gap between incomes and housing costs, de Blasio’s affordable housing plan, which aims to develop or preserve 200,000 affordable units over 10 years, sets aside more units for middle-income households than low-income ones.

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affordable housing, Harlem, housing lotteries

East Harlem, Affordable Housing, NYC affordable apartments

The East Harlem neighborhood, via Wikipedia

Applications are now being accepted for five newly constructed, affordable units at 230 East 124th Street in the Manhattan neighborhood of East Harlem. Located between Third and Second Avenues, the six-floor building features 20 apartments. Qualifying New Yorkers earning 60 percent of the area median income can apply for the units that range from a $867 per month studio to a $1,123 per month two-bedroom.

Find out if you qualify

affordable housing, maps

New Yorkers know that taking on a mortgage in the city is no easy feat. But a recent map shows that, compared to the rest of the country, we’ll spend many more years than most everyone else (except San Franciscans) in our attempts to pay it off. This map, which measures “mortgage magnitude,” looked at the median local income and median local home value to show the relative affordability of property in each US county. The value of the average property was then expressed in the number of years salary it costs. In some counties, a house will only set you back a total of one year’s pay. But as you move out toward costal cities like New York, that number gets dramatically higher.

Here’s how many years New Yorkers should expect

affordable housing, housing lotteries, lincoln square, Upper West Side 

One Columbus Place via Brodsky

Back in April, 6sqft shared an open waitlist for low-income units at the Brodsky Organization’s One Columbus Place. The mid-90s tower, located at the amazing intersection of Lincoln Center, Central Park, and the Upper West Side, has 700 total apartments, with 179 reserved as below-market rate. The second batch of affordable units, these set aside for middle-income New Yorkers earning 130 percent of the area median income, are now also accepting applications for a 7,500-name waitlist for future vacancies. They range from $2,116/month studios to $2,733/month two-bedrooms, compared to the building’s market-rate listings that range from $3,200/month studios to $6,300/month two-bedrooms.

Find out if you qualify and how to get your name on the list

affordable housing, Greenwood, housing lotteries, Park Slope

635 Fourth Avenue via ND Architecture and Design

This stacked, Tetris-like facade is the type of thing we’re used to seeing in neighborhoods like Williamsburg and Long Island City, but ND Architecture and Design has brought a similar look to the less-trendy and more industrial area where South Slope meets Gowanus. The mixed-use building known as the Alexy was recently completed and features commercial space, parking, and 95 rental units, a mix of market rate and affordable apartments. The latter group of 19 residences, ranging from $813/month studios to $1,016/month two-bedrooms, is now accepting applications from New Yorkers earning 60 percent of the area median income, quite the deal considering market-rate units are renting from $2,400 to $5,100 a month.

Find out if you qualify and check out the amenity package

affordable housing, Crown Heights, housing lotteries

Rendering via Think Architecture and Design

Facing an unprecedented homelessness problem, in February, Mayor de Blasio announced plans to open 90 new shelters and expand 30 existing ones. But when it came down to which neighborhoods would house the developments, it became a not-in-my-backyard issue, especially in Crown Heights, an area already heavy with shelters and transitional houses, where the Mayor said three of the first five projects would be built. The animosity intensified shortly thereafter when it was announced that one such shelter would open in a new building at 267 Rogers Avenue, originally planned as a condo. But despite opposition from local residents and a temporary restraining order, the building began welcoming tenants over the summer, with space for 132 homeless families and another 33 units reserved for low-income New Yorkers. The latter, set aside for those earning 60 percent of the area median income, are now available through the city’s affordable housing lottery and range from $931/month one-bedrooms to $1,292/month three-bedrooms.

See the qualifications

affordable housing, Brooklyn, East New York, Policy

starrett city, donald trump, president trump

Starrett City photo via Matt Green on Flickr, President Trump photo via Wikimedia

The owners of Starrett City, the largest federally subsidized housing project in the country, recently announced they found a buyer for the $850 million Brooklyn development. Located in East New York, Starrett City sits on 145 acres and includes 5,881 affordable apartments for 15,000 residents. As the New York Times reported, President Donald Trump partially owns the housing development and will benefit from the sale of the property. Since the sale requires federal approval from the Department of Housing and Urban Development and state officials, this puts the president on both sides of the agreement, creating a potential conflict of interest for him.

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affordable housing, Bushwick, housing lotteries

810 Flushing Avenue, Bushwick rental buildings

Rendering via Charles Mallea Architect

Permits were first filed for a new rental building at 810 Flushing Avenue in Bushwick, near the Bed-Stuy border and the Woodhull Medical Center, back in 2014, and nearly four years later the affordable housing lottery is open to New Yorkers earning 60 percent of the area median income for its nine $1,039/month units. In addition to being just a few blocks from the J,M,Z trains, the building offers a roof deck, fitness center, attended parking, and a two-story glass retail base. Apartments have open kitchens with granite counters and stainless steel appliances, hardwood floors, high ceilings and oversized windows, and, for certain residences, private balconies.

Find out if you qualify

Featured Story

affordable housing, apartment living 101, Features, More Top Stories, NYC Guides, Policy, real estate trends, renting 101

NYC affordable housing

Photo via Wiki Commons

Affordable housing is one of the hottest topics in the real estate market these days. It all started with Mayor de Blasio’s plan to preserve or build 200,000 affordable units over the next ten years, which has resulted in a slew of new lotteries for below-market rate apartments, putting his goal ahead of schedule. And let’s not forget the expiration of the controversial 421-a tax abatement, which provides incentives to developers when they reserve at least 20 percent of a building’s units for low- and moderate-income tenants. But despite the buzz-worthy roll affordable housing has been on, many are still left wondering what exactly it is.

Everything you need to know about affordable housing

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