A year after the city’s 421-a tax exemption program expired, a new version of the affordable housing incentive is officially moving forward. In August, Governor Cuomo released a new version of the plan that which include wage subsidies for construction workers and extended terms for the tax breaks, and after the Building and Construction Trades Council of Greater New York and the Real Estate Board of New York (REBNY) reached an agreement in November to move ahead with this version, the Governor’s office now reports that they’ll be advancing new legislation to move ahead the program that’s now been re-named “Affordable New York.” Cuomo says this will create 2,500 new affordable housing units per year.
Not only did the Times recently name the South Bronx one of this year’s hottest travel destinations, but the up-and-coming ‘hood has become a hotbed for new development. Many of these include affordable housing, which is the case at Bronx Commons, a mixed-use development in the Melrose Commons neighborhood that broke ground this morning. The $160 million project includes 305 all-affordable apartments, retail, and a landscaped public plaza, all of which will be anchored by the Bronx Music Hall, a new 300-seat venue that will serve as an “arts-centered community hub focused on the deeply rooted history of cutting edge Bronx music,” according to a press release from developers WHEDco and BFC Partners.
Last spring, the first housing lottery opened at Pacific Park Brooklyn when 181 affordable units at SHoP’s 461 Dean Street (the world’s tallest modular tower) came online. It was followed a few months later by 298 openings at 535 Carlton Avenue, COOKFOX‘s entirely affordable building, and now the third set of apartments for low- to middle-income New Yorkers is open. SHoP Architects also designed an all-affordable building at 38 Sixth Avenue, adjacent to the Barclays Center, and as of today these 303 residences are up for grabs, ranging from $532/month studios to $3,695/month three-bedrooms. Households earning between 101 and 165 percent of the area media income (or up to $173,415 annually) are eligible for 198 of the units, while 105 units are set aside for those earning between 30 and 100 percent (as low as $20,126 a year).
When Mayor de Blasio took office in 2014, he vowed to build or preserve 200,000 units of affordable housing over 10 years, and so far, he’s made good on his word, despite the loss of the city’s controversial 421-a program. The Times reports that today the Mayor will announce that his administration has added 21,963 affordable units in 2016, the most since 1989. Of these apartments, 6,844 were in newly constructed buildings and roughly 4,400, or 20 percent, were reserved for low-income New Yorkers earning less than $25,000 (much more than the eight percent goal). More than 30 percent were in Manhattan, followed by 29 percent in both the Bronx and Brooklyn.
It’s been over two years since ODA Architects first released a rendering of their rental project at 1040 Dean Street (formerly 608 Franklin Avenue) in Crown Heights. Featuring the firm’s signature glassy, boxy aesthetic, the eight-story, 133,582-square-foot project rose on part of the site of the shuttered Nassau Brewery, just a block away from hot-spot food hall Berg’n. Of its 120 units, 20 percent will be reserved for those earning no more than 60 percent of the area media income, and starting tomorrow, qualifying New Yorkers can apply to these affordable units, ranging from $845/month studios to $1,022 two-bedrooms.
An early rendering of the project, via CityLand
In April, the affordable housing lottery commenced for 79 units at Building A of the Bronx’s Crotona Terrace development in Crotona Park East. Now, 107 additional apartments are up for grabs at Building B, ranging from $368/month studios to $1,740/month three-bedrooms, broken down for those earning no more than 30, 40, 50, 60, or 100 percent of the area media income. This mixed-income setup is similar to other projects in the Crotona Park East neighborhood, which was rezoned nearly six years ago to allow more residential in a historically industrial area to create increased affordable housing.
Continuing his 2017 State of the State proposals, Governor Cuomo made an announcement this morning that the state would invest in six regional projects “to move New York City’s outer boroughs forward.” In addition to healthcare-related initiatives, these include: up to 3,000 new units of affordable housing in Brooklyn with wellness-focused amenities; permanent toll reductions on the Verrazano-Narrows Bridge for Staten Island residents; $10 million towards the Orchard Beach pavilion redevelopment; and $108 million in financing for the Kingsbridge Armory in the Bronx to be transformed to an ice center.
Go-to affordable housing firm Aufgang Architects and developer Arker Companies revealed renderings for a six-story, 67-unit building along Staten Island‘s Stapleton waterfront back in 2014. The under-construction project at 533 Bay Street, which offers low-income apartments for those 62 years of age and older, is now accepting applications for 44 of its units–three $686/month studios and 41 $737/month one-bedrooms, available to seniors earning up to 50 percent of the area media income. In addition to living in a brand-new building, residents will be in an up-and-coming area, where just a block away the massive rental development Urby is underway (the project boasts NYC’s first residential urban farm, as well as tons of retail space).
2016 saw a huge influx of new affordable housing developments and subsequent lotteries in the Bronx, and the new year is kicking off with yet another. As of Thursday, qualifying New Yorkers can apply for seven brand new units at 74 West Tremont Avenue, a small, eight-story building in the borough’s easily accessible Morris Heights neighborhood. The availabilities include $1,292/month one-bedrooms and $1,458/month two-bedrooms for those earning 80 percent of the area media income.
All the way back in 2012, the Ridgewood Bushwick Senior Citizens Council and developer Georgica Green announced plans to redevelop Bushwick‘s former Our Lady of Lourdes convent into affordable and supportive housing, and now, nearly five years later, the lottery has opened for 63 brand new units at the site. The available apartments are reserved for those earning 40, 50, 60, or 80 percent of the area media income and range from $519/month studios to $1,740/month three-bedrooms.
Qualifying New Yorkers can now apply to purchase one of 42 affordable condos in West Harlem‘s Parkadon Condominiums. Currently under construction, Harlen Housing Associates has been planning the structure located at 70 West 139th Street for nearly a decade and construction finally commenced on the project in 2015. Although move-in day is still a ways off, the building has topped off and the brick facade is currently being applied. Once finished there will be a total of 64 units (the difference pegged as market-rate) across 55,355 square feet, which includes 1,878 square feet of communal space on the ground floor. The NYC Housing Partnership relays that affordable apartments will range from one- to two-bedrooms priced from $225,545 and $440,381 and will be available to those earning between $50,400 and $149,490.
Photograph by Jeff Liao, courtesy of the Bronx Museum
Starting tomorrow, qualifying New Yorkers can apply for 59 newly renovated, affordable apartments throughout the South Bronx. Spread across six addresses (1171 Clay Avenue, 1183 Clay Avenue, 1202 Clay Avenue, 384 Grand Concourse, 1129 Morrison Avenue and 1038 Rogers Place), the units are all nearby in the Grand Concourse, Soundview, Foxhurst, and Mott Haven neighborhoods. The availabilities are for those earning 100, 60, and 50 percent of the area media income, ranging from $822/month studios to $1,875/month three-bedrooms.
Last year close to 22,000 tenants across the city were evicted from their homes, an issue that the folks at ProPublica trace to a 1994 City Council vote on “vacancy decontrol,” which allowed landlords to evade rent regulation and charge market rate for vacated apartments that cost $2,000 or more a month (it’s now $2,500). Not only did this incentive rent hikes, but it’s led to a major blow to the city’s rent stabilized inventory. To show the correlation between evictions and rent regulation, ProPublica has created this interactive map of the more than 450,000 eviction cases filed between January 2013 and June 2015. It shows the number of evictions in a given building (it’s shocking how many have had more than 50 in less than three years) and whether or not that building is rent stabilized.
The day after securing a $93 construction loan, the Rabsky Group has announced that 100 out of the 500 rentals at their massive Rheingold Brewery development will be below-market rate. As Curbed notes, Bushwick residents have been advocating that the 400,000-square-foot project include affordable housing since it was first announced, spurred not only by the neighborhood’s need, but the fact that Rabsky had no legal obligation to include affordable units.
Instead of weeding through the city’s constantly changing portal of affordable housing opportunities, New Yorkers can now track these addresses in one central location. Brownstoner shares CoreData.nyc, a new interactive data portal from the NYU Furman Center for Real Estate and Urban Policy that shows subsidized housing throughout the five boroughs and allows users to narrow down the map by factors such as median income, demographics, sales volume and pricing, zoning, and crime.
When the West Farms Redevelopment Plan came to fruition in 2011, it was the largest private rezoning ever in the Bronx. The 17-acre, 11-block site in Crotona Park East was a former industrial area that’s being transformed according to a master plan by Dattner Architects that calls for a total of 1,325 units of affordable housing and 46,000 square feet of retail space and community facilities. The first two buildings in the complex, also designed by Dattner, are called the Compass Residences and offer 237 units organized around a series of “gracious courtyards.” As of today, 114 of these apartments are available through the city’s affordable housing lottery. They’re open to individuals earning 60 percent of the area media income and range from $822/month studios to $1,224/month three-bedrooms.
Edgemere is a small neighborhood in the Rockaways that was full of beachfront hotels and bungalows back at the turn of the century. After Robert Moses tore down its most magnificent hotel and replaced it with a parking lot in 1941, the area soon fell into disrepair and became a ghost town. Just this year, however, the city released its Resilient Edgemere Community Planning Initiative to repair Sandy damage, protect the neighborhood from future flooding, improve transportation, and build resilient housing. One of these new projects is called Beach Green Dunes, a brand new Passive Building at 44-19 Rockaway Beach Boulevard with amenities like a roof garden, courtyard, parking, and fitness center. An affordable housing lottery for its 100 units opens today, ranging from $653/month studios to $1,597/month three-bedrooms.
The stretch of Myrtle Avenue in Clinton Hill between Hall Street and Classon Avenue, just across from Pratt Institute, is bustling with construction activity. As CityRealty recently reported, three mixed-used projects are in development along the street– condo 525 Myrtle Avenue, the recently opened rental 490 Myrtle Avenue, and the soon-to-open rental 531 Myrtle Avenue–and between these projects will be a pedestrian plaza with streetscape improvements, seating areas, and trees. The latest to join the list is 504 Myrtle Avenue, a 143-unit rental with ground-floor retail that’s rising on the former Pratt Station Post Office. Twenty-nine of its units are now available through the city’s affordable housing lottery, and they include 10 $735/month studios, 12 $741/month one-bedrooms, and seven $888/month two-bedrooms reserved for individuals earning no more than 60 percent of the area media income.
Earlier this fall, the first building at Two Trees’ three million-square-foot Domino Sugar Refinery mega-development topped out. The 16-story, $200 million tower at 325 Kent Avenue was designed by SHoP Architects, the same firm responsible for the entire Williamsburg project’s master plan, and features a two-winged scheme with a central courtyard. It’ll hold a whopping 522 rental units, 104 of which will be reserved for individuals earning 40 percent of the area media income. As of today, these affordable apartments are up for grabs through the city’s housing lottery, where availability ranges from $596/month studios to $979/month two-bedrooms.
A recent report detailed how nearly two thirds of the city’s 6,400 rental buildings where landlords received 421-a tax breaks didn’t file properly as rent stabilized, meaning they could raise the rents as much as they chose. Now, 178 of these buildings may lose the coveted exemptions if they don’t start complying with the regulations. The Post reports that the Department of Housing Preservation and Development sent out warning letters to these landlords, who altogether represent 1,400 apartments, telling them if they don’t comply within 90 days their benefits will be “revoked retroactively.”