affordable housing

affordable housing, Bed Stuy, housing lotteries

Photo via CityRealty

A mixed-income affordable housing lottery has opened for 89 units at 645 Gates Avenue in Bed-Stuy. The apartments, which range from $524/month studios to $2,638/month three-bedrooms, are available to those earning 40, 50, 100, and 130 percent of the area median income. The building, known as The Astra, offers an outdoor terrace, roof deck, bike storage, a laundry room, rec room, and community center. It’s in the heart of the neighborhood and a short walk to the G train at the Bedford-Nostrand station.

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affordable housing, Financial District, New Developments

WTC, world trade center, 5 world trade center

Photo by bilderkombinat berlin on Flickr

Plans to build a 900-foot mixed-use tower with 1,325 units of housing at 5 World Trade Center are moving forward. The boards of the Port Authority of New York and New Jersey and the Lower Manhattan Development Corporation voted on Thursday to approve the recommendation of the selection committee for the proposal from Brookfield Properties, Silverstein Properties, Omni New York, and Dabar Development Partners. The site is the former location of the Deutsche Bank building which was damaged in the September 11 terrorist attacks and later demolished. The developer will now enter negotiations for a lease for the residential tower, expected to measure 1.56 million gross square feet.

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affordable housing, Bed Stuy, housing lotteries

Rendering courtesy of BFC Partners

A housing lottery launched this week for 94 mixed-income apartments at a new rental in Bedford-Stuyvesant. Located at 1620 Fulton Street, the Garnet rises 11 stories and contains 103 total units. Building perks include a landscaped terrace, fitness center, children’s playroom, storage room, and on-site laundry. Qualifying New Yorkers earning 50, 100, and 150 percent of the area median income can apply for the apartments, ranging from $667/month studios to $2,741/month two-bedrooms.

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affordable housing, Astoria, housing lotteries, Long Island City

36-20 Steinway Street, Astor LIC, Long Island City rental, Astoria Rental

All renderings courtesy of Astor LIC

At the crossroads of two of Queens’ most sought-after neighborhoods, Long Island City and Astoria, an affordable housing lottery has just launched for 43 units. The new, lifestyle-forward rental development, located at 36-20 Steinway Street and dubbed Astor LIC, offers studios, one-, and two-bedroom residences, all of which were designed with luxury in mind. In addition, the amenities include a state-of-the-art fitness center, co-working space, and two rooftop terraces with views of the Manhattan skyline. The affordable units range from $2,050 to $3,100 per month and are available to those earning 130 percent of the area median income.

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affordable housing, Chelsea, housing lotteries

All renderings by Williams New York

Maverick Chelsea, a new wellness-focused condo-rental at 215-225 West 28th Street from HAP Investments, just launched an affordable housing lottery for 35 units, ranging from $995/month studios to $1,681/month three-bedrooms. Designed by DXA Studio, the contemporary residence is a two-building project that includes 112 rentals and 87 condos. Residents will get to enjoy amenities like an indoor pool and spa, summer kitchen, rooftop garden, wellness center, private library and lounge, fitness center, and 24-hour attended lobby.

Find out if you qualify here

Featured Story

affordable housing, Features, Policy, real estate trends

Photo by Gage Skidmore on Flickr

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.

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affordable housing, Bronx, Major Developments, New Developments

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.

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affordable housing, Bronx, housing lotteries

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.
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affordable housing, Flatbush, housing lotteries

Photo of Brooklyn College Library by Beyond My Ken on Wikimedia

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.

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affordable housing, Brooklyn, East New York, housing lotteries

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.

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