Affordable Housing

If you don't mind waiting out the L train "slowdown," this opportunity might be for you. The lottery is now open for eight newly constructed, middle-income units at 150 Meserole Street in Williamsburg, just two blocks from the Montrose Avenue station. The apartments in the brand-new building are available to households earning 130 percent of the area median income and range from $1,689/month for a studio to $2,189/month for two-bedrooms.
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Affordable Housing

Lottery opens for 93 affordable units at Bedford Arms complex in Crown Heights, from $590/month

image via Google Earth

July 11, 2019

Lottery opens for 93 affordable units at Bedford Arms complex in Crown Heights, from $590/month

Applications are now being accepted in the lottery for 93 newly-constructed rental apartments at Bedford Arms at 1336 Bedford Avenue, Crown Heights, Brooklyn. The new building's 93 units are available to households earning between 40 percent and 165 percent of the area median income, ranging from $590/month one-bedrooms to $3,060/month three-bedrooms.
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Affordable Housing

328 new affordable apartments available at Compass III residences in the Bronx from $331/month

The larger Compass Residences via Dattner Architects

July 11, 2019

328 new affordable apartments available at Compass III residences in the Bronx from $331/month

The lottery has just launched for 328 newly-constructed Compass III residences at 1560 Boone Avenue, Crotona Park East and 101 East 173rd Street in Mount Hope, Bronx. In 2011 the West Farms Redevelopment Plan for the 17-acre, 11-block former industrial area in Crotona Park East by Dattner Architects became the largest Bronx rezoning ever passed. When complete, the complex will offer 1,325 units of affordable housing along with retail and community facilities. The new building's 328 units are available to households earning between 30 percent and 100 percent of the area median income, ranging from $331/month studios to $1,921/month three-bedrooms.
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Affordable Housing

Waitlist opens for middle-income units steps from Hudson Yards, from $1,405/month

Hudson Crossing; via Equity Residential

July 9, 2019

Waitlist opens for middle-income units steps from Hudson Yards, from $1,405/month

A waitlist has opened for middle-income apartments at a building on Manhattan's west side. Located at 400 West 37th Street, Hudson Crossing sits between 9th and 10th Avenues, just two blocks from the site of Hudson Yards. Qualifying New Yorkers earning 80 percent of the area median income can apply for the apartments which range from a $1,405/month studio to a $2,174/month two-bedroom apartment. According to CityRealty, available market-rate studio and two-bedroom apartments at the building are currently listed for $2,936/month and $5,215/month, respectively.
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Affordable Housing

Apply for 60 affordable apartments in the heart of Harlem, from $562/month

Photo via Flickr cc

July 8, 2019

Apply for 60 affordable apartments in the heart of Harlem, from $562/month

Just three blocks north of bustling 125th Street, a brand new all-affordable building known as the Frederick has just opened the lottery for 59 of its 75 units. Ranging from $562/month studios to $2,158/month three-bedrooms, the mixed-income apartments are available to households earning 40, 50, 60, and 110 percent of the area median income. In addition to being right near local landmarks such as the Apollo and the Red Rooster, the 15-story building at 2395 Frederick Douglass Boulevard is just a block away from St. Nicholas Park and a few blocks from the A, C, B, and D trains.
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Affordable Housing

City Council approves Staten Island’s Bay Street Corridor rezoning with 1,800 new residential units

Rendering via Department of City Planning

June 27, 2019

City Council approves Staten Island’s Bay Street Corridor rezoning with 1,800 new residential units

The New York City Council voted 44-2 to approve Staten Island's Bay Street Corridor Rezoning plan Wednesday, SILive reports. As 6sqft previously reported, the city proposed to convert the area between Tompkinsville Park and Tappan Park from manufacturing to residential while constructing 1,800 new units that would house 6,500 residents in the area. About a quarter of the new residences would be income-restricted affordable housing through the city’s Mandatory Inclusionary Housing (MIH) program. The rezoning plan has drawn opposition from some community groups and Borough President Jimmy Oddo on the grounds that it would add to the area's traffic and transportation woes.
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Affordable Housing

Plan approved to replace Elizabeth Street Garden with affordable senior housing development

Rendering courtesy of Curtis + Ginsberg Architects

June 27, 2019

Plan approved to replace Elizabeth Street Garden with affordable senior housing development

The New York City Council on Wednesday unanimously approved a plan to replace a community garden in Little Italy with an affordable housing complex for seniors. The project, first introduced by Council Member Margaret Chin in 2012, will rise on the site of Elizabeth Street Garden, a quirky green space created in 1991 by Allan Reiver, who owns the gallery next to the garden. The complex, dubbed Haven Green, will include 123 affordable apartments and ground-floor retail. Originally, developers agreed to keep 8,000 square feet of public space at the site, but on Wednesday Chin said she reached an agreement to incorporate more open space at Haven Green through a courtyard next door.
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City overhauls Mitchell-Lama middle income housing program with increased oversight

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June 27, 2019

City overhauls Mitchell-Lama middle income housing program with increased oversight

Citing bribery, fraud and other abuses and years-long waiting lists, New York City’s Department of Housing Preservation and Development has restructured the Mitchell-Lama program, one of the New York City's oldest middle-income housing initiatives, the Wall Street Journal reports. Included in the restructuring effort will be the integration of the program's application process into Housing Connect, the city's existing affordable housing lottery, within the next year.
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Rent Guidelines Board approves modest increases for rent-stabilized apartments

Image by Jorbasa Fotografie / Flickr

June 26, 2019

Rent Guidelines Board approves modest increases for rent-stabilized apartments

In front of a packed auditorium at Cooper Union’s Great Hall last night, the Rent Guidelines Board voted on rent hikes for the city’s one million rent-stabilized apartments, the New York Times reports. The board voted 5-4 and approved a 1.5% increase on one-year leases and 2.5% on two-year leases. The new rents will kick in on October 1.
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Cuomo releases RFP for 5 World Trade Center, may include 900-foot tower and affordable housing

Earlier this month, the Port Authority and the Lower Manhattan Development Corporation arrived at a deal to release a request for proposals for the development of 5 World Trade Center, Crain's reported. The two state agencies had been locked in negotiations over how to develop the last site, which lies at the World Trade Center's southernmost end, surrounded by Washington, Albany and Greenwich streets, for years; as a result, the site has remained in limbo. Today, Governor Cuomo officially released a Request for Proposals for the site, which allows for either commercial or mixed-use proposals for a roughly 900-foot-tall building. Any proposals putting forth a residential component must include "onsite affordable units that comply with New York City's Mandatory Inclusionary Housing program," according to a press release.
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Waitlist opens for middle-income apartments at a Tribeca rental, from $2,832/month

Via Flickr

June 24, 2019

Waitlist opens for middle-income apartments at a Tribeca rental, from $2,832/month

Applications are currently being accepted to replenish the wait list for middle-income apartments at a Tribeca rental building. The 12-story tower at 89 Murray Street, dubbed Washington Mews, was constructed in 2007 and designed by Skidmore, Owings & Merrill's Mustafa Abadan. Qualifying New Yorkers must earn 175 percent of the area median income to apply for the $2,832/month two-bedrooms and $3,213/month three-bedrooms. While these prices rightfully seem steep, market rate two-bedrooms at the same building currently start at just under $6,000/month.
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Affordable Housing

Live in an affordable Bronx building with a rooftop garden and greenhouse, from $883/month

Rendering of the Bedford Green House courtesy of Edelman Sultan Knox Wood/Architects LLP and Hollister Construction Services

June 21, 2019

Live in an affordable Bronx building with a rooftop garden and greenhouse, from $883/month

A Bronx affordable housing development with lots of green perks launched a lottery this week for 46 units. Dubbed the Bedford Green House, the 13-story building at 2865 Creston Avenue offers its residents unique amenities that center around healing through nature, a concept called biophilic design. Bedford Green House, located within the Bedford Park neighborhood, will have a rooftop aquaponics greenhouse where residents will be able to raise fish, grow fresh produce, and participate in healthy cooking demos. Qualifying New Yorkers earning 60 percent of the area median income can apply for the units, ranging from $883/month studios to a $1,148/month two-bedrooms.
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Low-income senior housing lottery opens for 83 units at Perkins Eastman-designed building in Mott Haven

Rendering of Mill Brook Terrace courtesy of NYCHA

June 20, 2019

Low-income senior housing lottery opens for 83 units at Perkins Eastman-designed building in Mott Haven

As 6sqft recently reported, "More than 17 percent of New Yorkers are over the age of 60." Recognizing the need to provide adequate affordable housing for this population, last year, the city committed $500 million to build 1,000 new apartments for low-income seniors. Though the plan has moved slower than hoped, there are new opportunities taking shape, such as this lottery for 83 low-income apartments in the Mott Haven section of the Bronx. The one-bedroom units are available to one- or two-person households in which at least one member is 62 years of age or older, who qualify for NYCHA's Section 8 program, and who earn between $0 and $42,700 annually. Those who are eligible will pay 30 percent of their income to live in the building at 570 East 137th Street, a new project from Perkins Eastman.
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Affordable Housing

New data from Comptroller Scott Stringer shows that affordability is still declining in New York

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June 20, 2019

New data from Comptroller Scott Stringer shows that affordability is still declining in New York

City Comptroller Scott Stringer has released an updated Affordability Index, an annual look at how the rising costs of basic necessities like housing, transportation, healthcare, and childcare, are squeezing the budgets of New York City households and leaving them with fewer savings. Like last year, the data is far from reassuring, demonstrating that expense costs are rising far more rapidly than incomes. In 2005, the average middle-income single adult had 24 percent of their income left over after expenses. In 2017, that dropped to only 15 percent.
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Waitlist opens for ‘affordable’ units at Pacific Park’s modular tower, from $2,025/month

Via Flickr

June 20, 2019

Waitlist opens for ‘affordable’ units at Pacific Park’s modular tower, from $2,025/month

A rental tower in Brooklyn's long-plagued Pacific Park development is currently accepting applications for its affordable housing waitlist. The 363-unit building at 461 Dean Street opened in 2016, with its affordable housing lottery launching that same year. Three years later, the building's lottery waitlist has opened, inviting New Yorkers earning 160 percent of the area median income to apply for the not-so-affordable $2,025/month studios and $2,541/month one-bedrooms.
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Affordable Housing

New NYCHA head Gregory Russ will be the city’s highest paid official

Image via Wiki Commons

June 19, 2019

New NYCHA head Gregory Russ will be the city’s highest paid official

After missing two deadlines to fill the position, Mayor Bill de Blasio on Tuesday announced that Gregory Russ will be taking over as Chair of NYCHA. Russ, who is currently the head of Minneapolis’ public housing authority and previously led the Cambridge Housing Authority in Massachusetts, will receive an unprecedented salary of $402,628—more than even President Donald Trump makes. That figure comes out to roughly $1 a year for every NYCHA tenant he will represent, as THE CITY reports.
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84 studios for low-income seniors up for grabs at new Essex Crossing building, from $331/month

Rendering courtesy of Beyer Blinder Belle

June 19, 2019

84 studios for low-income seniors up for grabs at new Essex Crossing building, from $331/month

The city launched on Wednesday an affordable housing lottery for 84 affordable studios on the Lower East Side exclusively for low-income seniors. The building at 140 Essex Street sits as part of the nine-site Essex Crossing development and contains 92 units total. Qualifying senior households earning between zero and 60 percent of the area median income can apply for the apartments, which range from $331/month to $761/month.
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Affordable Housing

City withdraws plan for mixed-income tower proposed for Upper East Side playground

Previous rendering of the original project; Via NYCHA

June 17, 2019

City withdraws plan for mixed-income tower proposed for Upper East Side playground

The New York City Housing Authority has ditched plans to build a private 47-story apartment building on top of a playground on the Upper East Side, agency officials said Friday. The original plan called for a 300-unit tower to replace the playground at the Holmes Tower public housing complex with half of the units affordable and the other half at market-rate, the latter meant to raise funds for repairs at the tower. The new plan for the site will increase the number of market-rate apartments in order to collect more money, NYCHA officials told THE CITY.
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Affordable Housing

Real Estate groups plan to file lawsuit if rent reform law passes

Image via Pixabay.

June 13, 2019

Real Estate groups plan to file lawsuit if rent reform law passes

Real estate industry leaders say they will file a lawsuit against the state to challenge a package of bills containing changes to current rent regulations, which expire on June 15, the Observer reports. As 6sqft previously reported, the legislative package headed to both chambers for a vote this week contains landmark changes to current rent regulations aimed at strengthening New York’s rent laws and tenant protections. Industry stakeholders say they'll challenge the legislation on several points including one that makes the rules permanent, rather than having them expire every few years. The lawsuit would also challenge the retroactive nature of a provision to lower the amount landlords can charge for major capital improvements.
The industry fears 'disaster'

1,250-name waitlist opens for affordable co-ops at Chelsea’s Penn South, starting at $84,000

23rd Street subway station and Penn South, via Wiki Commons

June 13, 2019

1,250-name waitlist opens for affordable co-ops at Chelsea’s Penn South, starting at $84,000

Though it's rare, the city does offer affordable apartments to purchase, and a new waiting list is now open for residences at Penn South, a limited-equity housing co-op (h/t Rachel Holliday Smith). The Chelsea development stretches between Eighth and Ninth Avenues from 23rd to 29th Streets and is comprised of 10 buildings and nearly 3,000 units. Though the complex was constructed almost 60 years ago, its location today is prime thanks to a booming Chelsea and proximity to Hudson Yards. Those who meet the income requirements can enter the 1,250-name waitlist for studios starting at $84,372, one-bedrooms from $101,247, and two-bedrooms from $151,870.
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Affordable Housing

New York reaches major deal to strengthen rent and tenant protections

Image by Jorbasa Fotografie / Flickr

June 12, 2019

New York reaches major deal to strengthen rent and tenant protections

Democratic leaders in Albany announced Tuesday that an agreement has been reached on a package of bills that will significantly strengthen New York’s rent laws and tenant protections. As the New York Times reports, contained in the legislative package headed to both chambers for a vote this week are landmark changes to current rent regulations, which expire on June 15. The new legislation is meant to address concerns about the high cost of housing and the sweeping inequality that has resulted from it. To that end, as the Times explains, "the changes would abolish rules that let building owners deregulate apartments, close a series of loopholes that permit them to raise rents and allow some tenant protections to expand statewide." These changes have long been opposed by the real estate industry, which lost some of its influence in Albany when its Republican allies became outnumbered in the State Senate in the November elections.
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32 middle-income units up for grabs at new Sheepshead Bay rental, from $1,450/month

Design and rendering by EranArc pllc

June 4, 2019

32 middle-income units up for grabs at new Sheepshead Bay rental, from $1,450/month

Several years ago, 6sqft referred to Sheepsheads Bay as "the once-sleepy waterfront community that’s almost as far out as Coney Island." Since then, a slew of new projects has started to rise in the neighborhood, including the tallest residential building in South Brooklyn and a luxury condo with prices up to $1.7 million. Adding to the buzz is a new affordable housing lottery at 2442 Ocean Avenue, a seven-story, 105-unit rental building that, thanks to its U-shaped design, offers an interior courtyard and many outdoor terraces. The 35 middle-income apartments up for grabs are available to those earning 130 percent of the area median income and range from $1,450/month studios to $2,499/month two-bedrooms.
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Affordable Housing

Apply for 63 affordable studios at new La Central development in the Bronx for $650/month

Rendering of 626 Bergen via FXCollaborative

May 31, 2019

Apply for 63 affordable studios at new La Central development in the Bronx for $650/month

A new housing development in the Bronx launched a lottery this week for 63 studio apartments. Located in the South Bronx, the La Central complex will include five buildings with 992 units of mixed-income housing, a new 50,000-square-foot YMCA, a television studio, landscaped courtyard, and a skate park. Qualifying New Yorkers earning 60 percent of the area median income (AMI) can apply for the $650/month studios.
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Affordable Housing

As city spends $3.2B on homeless services, shelter population remains flat

Via CC

May 23, 2019

As city spends $3.2B on homeless services, shelter population remains flat