Affordable Housing

Hochul calls for replacement and extension of 421-a tax abatement in NYC

Photo courtesy of Governor Kathy Hochul on Flickr

January 10, 2024

Hochul calls for replacement and extension of 421-a tax abatement in NYC

By Aaron Ginsburg

As housing production in New York City hits new lows, Gov. Kathy Hochul is calling once again for a replacement of the 421-a tax abatement program that expired in 2022. During her 2024 State of the State address on Tuesday, the governor said she plans to introduce legislation permitting the city to offer a tax break to developers of new rental construction, as well as an extension of the completion deadline of the expired program. Hochul's previous proposals to replace the program in 2022 and 2023 failed to move forward.
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Apply for 87 income-restricted apartments in prime Fort Greene, from $910/month

Rendering courtesy of NYC Department of Housing Preservation and Development; 142 South Portland Avenue site before construction, photo courtesy of MDG Design + Construction

January 5, 2024

Apply for 87 income-restricted apartments in prime Fort Greene, from $910/month

By Devin Gannon

Applications are now being accepted for 87 affordable apartments at a new mixed-use project in Fort Greene. The Hanson Place Community Plaza development at 142 South Portland Avenue has 104 apartments, 10,000 square feet of community space, and a prime location, just a block from the mall and transit hub at Atlantic Avenue and the Barclays Center. Qualifying New Yorkers earning 50, 60, and 140 percent of the area median income can apply for the apartments, priced from $910/ month for studios to $3,654/month for three-bedrooms.
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Affordable Housing

Nearly 200 mixed-income apartments available near Yankee Stadium, from $465/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

December 28, 2023

Nearly 200 mixed-income apartments available near Yankee Stadium, from $465/month

By Aaron Ginsburg

A housing lottery opened this week for 198 mixed-income units at a new residential development in the South Bronx. Located as part of a two-building project at River Avenue and McClellan Street, the McClellan Apartments is a 17-story building with 250 apartments. New Yorkers earning 30, 50, 70, and 100 of the area median income, or between $18,515 for a single person and $175,100 for a household of seven people, can apply for the apartments, which range from $465/month studios to $2,639/month three bedrooms.
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Affordable Housing

NYC rental subsidy aims to build more affordable housing in wealthy neighborhoods

Image courtesy of mari small on Unsplash

December 27, 2023

NYC rental subsidy aims to build more affordable housing in wealthy neighborhoods

By Aaron Ginsburg

The city on Tuesday announced plans to subsidize mixed-income rental projects in neighborhoods with few low-cost homes as a way to jumpstart development following the end of the 421-a tax exemption. The new program, called the Mixed Income Market Initiative (MIMI), would make public money available for the first time to projects with both affordable and market-rate units, with the goal of incentivizing developers to build more affordable homes using revenue generated from the market-rate apartments.
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NYC Council approves bill limiting criminal background checks by landlords

Image courtesy of Emiliano Bar on Unsplash

December 21, 2023

NYC Council approves bill limiting criminal background checks by landlords

By Aaron Ginsburg

The New York City Council on Wednesday passed legislation limiting the use of criminal background checks by landlords when screening tenants. Sponsored by Council Member Keith Powers, "The Fair Chance for Housing Act" amends the city's Human Rights Law to prohibit landlords, owners, and real estate brokers from rejecting applicants based on past convictions. However, landlords can consider misdemeanor convictions from the last three years and felony convictions within five years. Other exemptions to the bill include certain sex crimes and one- or two-family homes where the owner also lives.
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Upper West Side rental opens lottery for 52 mixed-income units, from $1,096/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

December 20, 2023

Upper West Side rental opens lottery for 52 mixed-income units, from $1,096/month

By Aaron Ginsburg

Applications are now being accepted for 52 mixed-income units in a new luxury rental building on the Upper West Side. Located at 266 West 96th Street, the 23-story building includes 171 luxury apartments and exclusive amenities, including an expansive rooftop terrace. New Yorkers earning 70, 80, and 130 percent of the area median income, or between $40,526 for a single person and $198,250 for a household of five people, can apply for the apartments, priced from $1,096/month studios to $3,703/month two bedrooms.
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Affordable Housing

After 20 years, Pacific Park faces foreclosure and an uncertain future

Photo credit: Amaury Laporte via Flickr.

December 19, 2023

After 20 years, Pacific Park faces foreclosure and an uncertain future

By Michelle Cohen

As the massive Brooklyn megadevelopment once known as Atlantic Yards reaches its 20th anniversary, news of the project's progress has been scarce. But recent changes affecting the development anchored by Barclays Center may put the 22-acre site–now known as Pacific Park–back in the spotlight. As The Real Deal reported in a wrap-up of its progress over the past two decades, current developer Greenland USA has defaulted on nearly $350 million in loans attached to the project's second phase. With foreclosure imminent, an auction, scheduled for next month, may mean a new developer will be responsible for fulfilling crucial affordable housing agreements and inherit penalties for unbuilt units.
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Vacant hotel near JFK Airport to become 300+ permanently affordable apartments

Rendering of the indoor/outdoor garden planned for residents at Baisley Pond Park Residences. Courtesy of OSD

December 18, 2023

Vacant hotel near JFK Airport to become 300+ permanently affordable apartments

By Aaron Ginsburg

An empty hotel near John F. Kennedy International Airport in Queens will be converted into a permanently affordable housing development with 300 apartments. Slate Property Group, RiseBoro Community Partnership, and the city's Housing Development Corporation on Monday announced the acquisition of the former JFK Hilton Hotel for $64 million, the first step in converting the vacant hotel into homes for low-income households and formerly homeless New Yorkers. Construction is expected to kick off next month.
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276 units available at affordable Passive House in East Harlem, from $498/month

Renderings courtesy of the NYC Department of Housing Preservation and Development

December 13, 2023

276 units available at affordable Passive House in East Harlem, from $498/month

By Aaron Ginsburg

Applications are being accepted for 276 mixed-income units at the world's largest fully affordable Passive House in East Harlem. Located at 50 East 112th Street, the building is the second phase of Sendero Verde, a mixed-use project with affordable housing, outdoor space, a school, community space, and retail. New Yorkers earning 30, 50, 60, and 110 percent of the area median income, or between $19,646 for a single person and $192,610 for a household of seven, can apply for the units, which range from $498/month studios to $3,169/month for three bedrooms.
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Affordable Housing

New York to spend $50M restoring single-room occupancy units

An SRO in the famous Chelsea Hotel, featured in a 2018 6sqft story. Photo by James and Karla Murray exclusively for 6sqft.

December 13, 2023

New York to spend $50M restoring single-room occupancy units

By Aaron Ginsburg

New York is paying landlords to renovate and repair single-room occupancy (SRO) apartments as a way to provide housing for vulnerable New Yorkers. Gov. Kathy Hochul on Tuesday announced $50 million will be spent to rehabilitate up to 500 existing SROs across the state. Units in SRO buildings usually include one room with a sink and stove and access to a shared bathroom. A common type of housing in New York City until the second half of the 20th century, SROs cost less than the average apartment and appeal to low-income renters or those struggling with homelessness.
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Hochul unveils plan to bring 2,800 homes to underused Creedmoor campus in eastern Queens

Image via WikiCommons

December 7, 2023

Hochul unveils plan to bring 2,800 homes to underused Creedmoor campus in eastern Queens

By Aaron Ginsburg

Gov. Kathy Hochul on Wednesday released the Creedmoor Community Master Plan, a proposal to redevelop 58 acres of the Creedmoor Psychiatric Center campus in Queens into a mixed-use community with over 2,800 homes, green space, bike infrastructure, retail, and amenities. State-owned Creedmoor has operated as a mental health center since 1912 and hit its peak patient population of 7,000 in 1959. Today, a majority of the campus sits vacant. Queens Borough President Donovan Richards and Empire State Development (ESD), along with the Metropolitan Urban Design Workshop, developed the master plan over six months.
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Apply for 56 luxury apartments in Rego Park, from $2,250/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

December 7, 2023

Apply for 56 luxury apartments in Rego Park, from $2,250/month

By Aaron Ginsburg

A housing lottery has opened for 56 middle-income apartments at a new luxury rental building in Queens. Located at 98-08 Queens Boulevard in Rego Park, Vista65 is a 22-story building with over 180 modern apartments and luxurious amenities like an outdoor terrace, fitness center, and a complimentary espresso bar in the lobby. New Yorkers earning 130 percent of the area median income, or between $77,143 for a single person and $198,250 for a household of five, can apply for the units. Apartments are priced at $2,250/month for studios, $2,695/month for one-bedrooms, and $3,295/month for two-bedrooms.
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Affordable Housing

Second phase begins on affordable housing complex at former Bronx juvenile jail

Rendering courtesy of WXY Studios

November 30, 2023

Second phase begins on affordable housing complex at former Bronx juvenile jail

By Aaron Ginsburg

The five-acre mixed-use development at a former juvenile jail site in the Bronx is moving forward. New York City officials on Wednesday broke ground on the second phase of the Peninsula, which will bring over 700 affordable homes and a manufacturing building to Hunts Point. The project's second phase includes two buildings with 359 apartments, a public plaza, a parking garage, and community space. The mixed-use complex is rising on the site of the former Spofford Juvenile Detention Center, which closed in 2011 and was notorious for its mistreatment of children.
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Lottery opens for 36 mixed-income apartments in Park Slope, from $834/month

All images courtesy of S. Wieder Architects

November 29, 2023

Lottery opens for 36 mixed-income apartments in Park Slope, from $834/month

By Aaron Ginsburg

Applications are now being accepted for 36 mixed-income units at a new residential development in Park Slope. Located at 375 Dean Street, the building, dubbed "Signum," rises 17 stories and contains 143 luxury residences. New Yorkers earning 40, 50, 60, 100, and 130 percent of the area median income, or between $31,543 for a single person and $165,230 for a household of three, can apply for the apartments, priced from $834/month for studios to $2,852/month for two-bedroom units.
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Affordable Housing

New Downtown Brooklyn rental opens lottery for 22 middle-income apartments, from $2,924/month

All renderings courtesy of the NYC Department of Housing Preservation and Development

November 27, 2023

New Downtown Brooklyn rental opens lottery for 22 middle-income apartments, from $2,924/month

By Aaron Ginsburg

A housing lottery opened this week for 22 middle-income units at a new residential development in Downtown Brooklyn. Located at 131 Concord Street, Amnia offers tenants brand-new residences, luxurious amenities, and a prime spot in the heart of one of Brooklyn's most popular neighborhoods. New Yorkers earning 130 percent of the area median income, or between $100,252 for a single person and $198,250 for a household of five, are eligible to apply for the apartments, priced at $2,924/month for studios, $3,126/month for one-bedrooms, and $3,733/month for two bedrooms.
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Affordable Housing

NYC to pay 15 homeowners up to $400K to build apartments on their properties

Image courtesy of the NYC Department of City Planning

November 21, 2023

NYC to pay 15 homeowners up to $400K to build apartments on their properties

By Aaron Ginsburg

The city's Department of Housing Preservation and Development (HPD) on Tuesday launched the "Plus One ADU" pilot program to help qualifying homeowners add an additional small home on their properties, known as an accessory dwelling unit. The city will pay 15 owners of single-family homes up to $395,000 to build the units, which could be backyard cottages, attic conversions, garage studios, basement apartments, or in-law suites. The pilot program aims to spur the creation of affordable housing amid the city's current crisis while also providing homeowners with extra income.
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NYC’s first 100% affordable housing development with new public library opens in Sunset Park

All photos courtesy of Brooklyn Public Library

November 16, 2023

NYC’s first 100% affordable housing development with new public library opens in Sunset Park

By Aaron Ginsburg

The Brooklyn Public Library and Fifth Avenue Committee on Wednesday opened the Sunset Park Library and Apartments, a first-of-its-kind development with 100 percent affordable housing above a new state-of-the-art public library branch. The eight-story mixed-use building at 372 51st Street brings new affordable housing homes to Sunset Park for the first time in two decades. Officials say the project could establish a new model for co-located affordable housing developments in the city.
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Affordable Housing

517-unit luxury development tops out along Gowanus Canal

Renderings courtesy of PMG

November 10, 2023

517-unit luxury development tops out along Gowanus Canal

By Aaron Ginsburg

A huge mixed-use development with over 500 apartments has topped out along the Gowanus Canal. The two-tower, 21-story project at 267 Bond Street and 510 Sackett Street measures over 600,000 square feet and includes 57,300 square feet of retail space and a new park and esplanade along the famously polluted waterfront. Developed by PMG and Carlyle, the development is part of the 2021 Gowanus rezoning effort, which will bring thousands of new homes to the Brooklyn neighborhood. The development, dubbed Society Brooklyn and Sackett Place, has a completion date of 2025.
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Coney Island rental a block from the beach opens lottery for 299 units, from $410/month

Renderings courtesy of BFC Partners

November 8, 2023

Coney Island rental a block from the beach opens lottery for 299 units, from $410/month

By Aaron Ginsburg

Applications are being accepted for 299 mixed-income units at a new 100 percent affordable development one block from the beach in Coney Island. The 10-story mixed-use building at 1607 Surf Avenue is the second phase of a development project from BFC Partners that includes 1,000 new affordable homes. New Yorkers earning 30, 50, 70, and 120 percent of the area median income, or between $17,006 for a single person and $210,120 for a household of seven, can apply for the apartments, priced from $410/month studios to $2,656/month three bedrooms.
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Affordable Housing

Lottery opens for 40 middle-income units near the park in Prospect Lefferts Gardens, from $2,350/month

Rendering courtesy of Hill West Architects

November 1, 2023

Lottery opens for 40 middle-income units near the park in Prospect Lefferts Gardens, from $2,350/month

By Aaron Ginsburg

A housing lottery opened this week for 40 middle-income units at a new residential development in Prospect Lefferts Gardens. Located at 210 Clarkson Avenue, the eight-story mixed-use rental building offers residents modern apartments with state-of-the-art amenities and easy access to Prospect Park. New Yorkers earning 130 percent of the area median income, or between $80,572 for a single person and $198,250 for a household of five, can apply for the apartments, priced at $2,350/month for one bedrooms and $2,750/month for two bedrooms.
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Affordable Housing

Supportive housing development for homeless LGBTQ young adults opens in Harlem

Image courtesy of Gov. Kathy Hochul’s Office

October 25, 2023

Supportive housing development for homeless LGBTQ young adults opens in Harlem

By Aaron Ginsburg

A new housing development with supportive services for LGBTQIA+ young adults opened in Harlem this week. Gov. Kathy Hochul and Mayor Eric Adams announced on Tuesday the completion of Homeward Central Harlem, a residential project with 50 apartments and on-site services provided by Homeward NYC, a non-profit that provides housing and support for homeless New Yorkers. The nine-story building at 15 West 118th Street will offer counseling, case management, group activities, skills-building programs, and connections to community resources.
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Affordable Housing

Next to a transit hub and historic park in Jamaica, 67 mixed-income luxury units are available, from $1,585/month

Rendering courtesy of Zara Realty

October 24, 2023

Next to a transit hub and historic park in Jamaica, 67 mixed-income luxury units are available, from $1,585/month

By Aaron Ginsburg

A new rental in Queens is now accepting applications for 67 mixed-income apartments. Located at 153-10 88th Avenue in the heart of Jamaica, The 88 includes luxury units and amenities, including two landscaped rooftop decks. The building sits next to Rufus King Park and is near several public transit lines. New Yorkers earning 80 and 130 percent of the area median income, or between $57,292 for a single person annually and $198,250 for a household of five, can apply for the apartments, which range from $1,585/month studios to $3,075/month two bedrooms.
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Affordable Housing

Bronx Point phase one opens with 542 new homes and a waterfront park

Photo credit: Sylvester Zawadzki

October 20, 2023

Bronx Point phase one opens with 542 new homes and a waterfront park

By Devin Gannon

The first phase of a major mixed-use development in the South Bronx has officially opened. Officials on Thursday unveiled 542 new units of affordable housing and a 2.8-acre waterfront public park now complete as part of the $349 million Bronx Point project. The development will also be home to the Universal Hip Hop Museum, which will open in 2025 as the first museum of its kind in the country.
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NYC on track to build just 11,000 homes this year, half of 2022 total, report finds

Brooklyn Point in Downtown Brooklyn offers 421-a benefits through 2045; Rendering by Williams New York.

October 19, 2023

NYC on track to build just 11,000 homes this year, half of 2022 total, report finds

By Aaron Ginsburg

New York City will build just 11,000 new units of housing this year, a sharp decline from the year before and way below the number of homes needed to address the city's current housing crisis. According to a report released Wednesday by the NY Building Congress, construction of new residential units dropped by 62 percent in 2023, due to the expiration of the 421-a tax abatement in combination with high interest rates.
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Major Willets Point development with NYC’s first pro soccer stadium enters public review

All renderings courtesy of New York City Football Club.

October 17, 2023

Major Willets Point development with NYC’s first pro soccer stadium enters public review

By Aaron Ginsburg

Plans for a 23-acre mixed-use development in Queens with thousands of affordable housing and New York City's first professional soccer stadium are moving forward. The second phase of the Willets Point project entered the uniform land use review procedure (ULURP) on Monday, which puts the plan in front of the public for feedback before being voted on by the City Council. This phase includes 1,400 of the 2,500 total affordable homes, a new 650-seat public school, 40,000 square feet of public open space, retail space, a 250-key hotel, and the first-ever soccer-specific stadium in the city.
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