After Joe Biden is sworn in as the 46th president of the United States on Wednesday, his immediate focus will be getting the coronavirus pandemic under control and providing direct relief to Americans. In addition to immediate actions related to COVID-19, Biden’s Day 1 housing priorities include extending the federal nationwide moratorium on residential evictions through the end of September and sending an additional $25 billion in rental assistance to states. Down the road, Biden has proposed fewer developer-friendly policies than his predecessor, including a repeal of the 1031 exchange and reform of the Opportunity Zone tax program. But overall, there is optimism among New York City real estate industry experts who see a Biden Administration as a way to restore stability and consumer confidence. With a pledge to defeat COVID-19 and send federal support to New York City, there’s hope on the horizon for the city’s recovery.
Rendering courtesy of S9 Architecture
Construction of the South Bronx mixed-use project that will have over 1,000 units of housing, a waterfront esplanade, and a permanent home for the Universal Hip Hop Museum is set to begin in the coming weeks. Developed by L+M Development Partners, Type A Projects, BronxWorks, and the city of New York in a public-private partnership, the project, known as Bronx Point, secured $349 million in financing last week. S9 Architecture is leading the design of the 22-story development, with the publicly-accessible open space along the Harlem River designed by Marvel Architects and Abel Bainnson Butz.
All images courtesy of Phipps Houses
A housing lottery launched last week in the South Bronx for over 200 affordable homes set aside for extremely-low to moderate-income households. Located in Soundview, the newly-constructed 12-story Metcalf Avenue Apartments offers residents on-site laundry, children’s playroom, roof deck, landscaped courtyard, and a community room. Qualifying New Yorkers earning 30, 50, 70, 90, and 110 percent of the area median income can apply for the units, which range from $354/month studios to $2,346/month three-bedroom apartments.
Find out if you qualify
A housing lottery has launched this week for 58 affordable apartments for senior New Yorkers at a new Brooklyn rental. Located at 1488 New York Avenue, the Bishop Philius and Helene Nicolas Senior Residences rises seven stories and contains 89 studio apartments and social services for residents. To apply, New Yorkers must have at least one household member who is 62 years of age or older, qualify for Section 8 benefits, and earn $45,500 or less, annually. Eligible applicants will pay 30 percent of their income for the studio apartments.
Photo credit: The Arker Companies
A housing lottery launched this month for 112 affordable apartments at a new complex in the Spring Creek section of East New York. The building at 881 Erskine Street sits within The Fountains development, a mixed-use project of six buildings that will ultimately bring more than 1,100 affordable homes to the area. Qualifying New Yorkers earning 30, 40, and 60 percent of the area median income can apply for the apartments, which range from $331/month studios to $1,472/month three-bedroom apartments.
Applications are now being accepted for 48 units below market rate at a newly constructed Long Island City rental. Located at 45-57 Davis Street, the nine-story development contains over 150 units and commercial space on the ground floor. Qualifying New Yorkers earning 130 percent of the area median income can apply for the units, which range from $2,156/month studios to a $3,122/month three-bedroom. The median rental price for market-rate units in the neighborhood is $2,700/month, according to CityRealty.
Rendering courtesy of Marvel Architects/SCAPE Landscape Architects
The city’s proposed six-building residential development in Gowanus will be 100 percent affordable, officials announced last week. The Gowanus Green project, part of Mayor Bill de Blasio’s administration’s plan to rezone the Brooklyn neighborhood, will contain 950 units of affordable housing, with at least 50 percent designated to extremely low and very low-income households. Previously, the plan called for roughly 74 percent of units to fall below the market rate.
Lottery opens for 122 affordable senior housing units in new Bronx building with lots of green space, Tue, November 17, 2020
All renderings by SLCE Architects
In the Tremont section of the Bronx, just south of Little Italy and just west of the Bronx Zoo and Botanical Garden, a new affordable senior housing complex has launched a lottery for 122 units. Located at 600 East 179th Street, the 176-unit building was designed by SLCE Architects and features environmentally friendly features such as two large terraces and a rear garden, including both indoor and outdoor vegetable gardens, and a green wall. The available apartments include studios and one-bedrooms for those earning 30 or 50 percent of the area median income, who will pay 30 percent of their income on rent.
A new housing lottery has launched for 86 middle-income apartments at a brand new residential building in Downtown Brooklyn. Designed by J Frankl Associates and Charles Mallea, 260 Gold Street rises 13 stories on a former parking at the corner of Tillary and Gold. Qualifying New Yorkers earning 130 percent of the area median income can apply for the apartments, which include $2,241/month studios, $2,362/month one-bedrooms, $2,848/month two-bedrooms, and $3,282/month three-bedrooms.
Photo courtesy of JLS Designs Architecture and Planning PC, Joe Sultana Architect
In the heart of Astoria, a middle-income affordable housing lottery has launched at the brand-new rental building at 14-53 31st Avenue. Known as the Centennial Astoria, it was designed by local firm JLS Designs and offers a modern, glassy living experience not often found in the neighborhood. There are 14 units available to those earning 130 percent of the area median income. They include $2,050/month one-bedrooms and $2,500/month two-bedrooms.