Affordable Housing

January 12, 2017

The city added 21,963 affordable housing units in 2016, the most in 27 years

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.
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January 11, 2017

Live in ODA’s new Crown Heights rental from $845/month, lottery opening for 24 units

By Dana Schulz

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.
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Affordable Housing

From just $368/month, lottery opens for 107 affordable apartments in Crotona Park East

An early rendering of the project, via CityLand

January 11, 2017

From just $368/month, lottery opens for 107 affordable apartments in Crotona Park East

By Dana Schulz

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.
Find out if you qualify

Affordable Housing

January 9, 2017

Governor Cuomo announces six investments to advance NYC’s outer boroughs

By Dana Schulz

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.
Get all the details ahead

January 6, 2017

Lottery opens for 44 affordable senior apartments on Staten Island’s Stapleton waterfront

By Dana Schulz

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).
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Affordable Housing

January 3, 2017

Apply for seven affordable units in the Bronx’s Morris Heights area, starting at $1,292/month

By Dana Schulz

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.
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Affordable Housing

January 3, 2017

Lottery opens for 63 affordable units at former Bushwick convent, starting at $519/month

By Dana Schulz

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.
Find out if you qualify

Affordable Housing

December 22, 2016

42 new affordable condos available at West Harlem’s Parkadon, from $225K

By Diane Pham

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.
find out if you qualify

Affordable Housing

Photograph by Jeff Liao, courtesy of the Bronx Museum

December 22, 2016

Apply for 59 affordable apartments throughout the South Bronx, starting at $822/month

By Dana Schulz

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.
Find out if you qualify

Affordable Housing

December 19, 2016

Map highlights the correlation between evictions and rent stabilization loss in NYC

By Dana Schulz

View the map from ProPublica in its interactive form here >> 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.
Find out more on the issue

Affordable Housing

ODA’s Rheingold Brewery rental will offer 100 affordable units in Bushwick

By Dana Schulz

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.
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December 13, 2016

Track affordable housing across NYC with this new map and data tool

By Dana Schulz

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.
Find out more this way

Affordable Housing

December 9, 2016

114 affordable units at the Bronx’s new Compass Residences complex up for grabs, from $822/month

By Dana Schulz

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.
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Affordable Housing

December 9, 2016

Lottery opens for 100 units in Far Rockaway’s new Passive House, from $653/month

By Dana Schulz

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.
Find out if you qualify

Affordable Housing

December 2, 2016

Live along Clinton Hill’s bustling Myrtle Avenue for $735/month, lottery open for 29 units

By Dana Schulz

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.
More on the lottery

Affordable Housing

November 28, 2016

Live in SHoP’s Domino Sugar Refinery tower for $596/month, lottery open for 104 units

By Dana Schulz

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.
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Affordable Housing

November 23, 2016

178 residential buildings may lose 421-a tax breaks if they don’t file as rent regulated

By Dana Schulz

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."
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Apply for 195 affordable units in Long Island City’s glitzy new rental tower The Hayden, from $913/month

Current view of construction via 6sqft

November 22, 2016

Apply for 195 affordable units in Long Island City’s glitzy new rental tower The Hayden, from $913/month

By Ondel Hylton

Rockrose Development's newest Long Island City rental The Hayden commenced its affordable housing lottery earlier this November. As first reported by Court Square Blog, the massive 50-story, 924-unit, amenity-filled complex at 43-25 Hunter Street will deliver 195 below-market units to the western Queens neighborhood when it opens sometime in 2017. The subsidized units are earmarked for households who earn no more than 60 percent of the area median income, and according to the building's official lottery webpage, range from $913/month studios to $1,183/month two-bedrooms.
Find out if you qualify

Affordable Housing

November 21, 2016

New NYU program lets students live in local seniors’ spare bedrooms

By Dana Schulz

As a way to offer lower-cost housing options, NYU is piloting a program this fall that will let students live in the spare bedrooms of local senior citizens. Dubbed the "home stay" program, it would cut in half the university's housing bill, reports the Post, as well as provide income to hosts. According to Gothamist, the program is part of a larger affordability initiative that NYU President Andrew Hamilton put forth when he assumed his role in January. The school's $65,000/year tuition makes it the third most expensive in the country, and undergraduate housing ranges from $10,500 for a shared bedroom to $21,000 for a private suite.
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Affordable Housing

November 21, 2016

Cuomo sets aside $300M in tax-exempt bonds for NYC affordable housing

By Dana Schulz

As of the summer, Mayor de Blasio was ahead of schedule on his ambitious plan to build or preserve 200,000 units of affordable housing over 10 years, having financed nearly 53,000 such apartments. His goal will now be even closer in grasp thanks to the additional $300 million in federally tax-exempt bonds the Governor has allocated to subsidize the cost of new construction, which brings the city's total bond capacity to $771 million, according to the Daily News, an 11 percent increase over 2o15.
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November 21, 2016

Live a block from the Bronx Zoo for $1,348/month, lottery opening for nine units in Belmont

By Dana Schulz

As of tomorrow, nine brand new units in the Belmont section of the Bronx will become available through the city's affordable housing lottery. Located just a block from the Bronx Zoo and within walking distance to the New York Botanical Garden, the seven-story, 41-unit building at 2346 Prospect Avenue was recently constructed by the Stagg Group and Badaly Architects and also has ground-floor community facility space. The available apartments, open to those earning 80 percent of the area media income, include four one-bedrooms for $1,348/month and five two-bedrooms for $1,521/month.
Find out if you qualify here

Affordable Housing

November 16, 2016

Nearly half of the city’s affordable housing units go to young, single New Yorkers

By Dana Schulz

The odds you'll score an affordable apartment through one of the city's housing lotteries is about 1,000 to 1--that is, unless you're young and single. Through a FOIL request, DNAinfo obtained data from the Department of Housing Preservation and Development that showed more than half of the 1,470 units that became available through the 48 lotteries that opened from January 2013 to December 2015 were for studios and one-bedrooms; 41 percent of those chosen in these lotteries were ages 25 through 34, and 50 percent were single.
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Affordable Housing

November 11, 2016

Cuomo’s revised 421-a plan will move ahead as REBNY and construction trades come to agreement

By Dana Schulz

Ever since the city's 421-a tax exemption program expired in January, the Building and Construction Trades Council of Greater New York and the Real Estate Board of New York (REBNY) have been negotiating under what terms to extend and/or modify the program. Both groups took part in what the city believes were "secret talks" with Governor Cuomo over the summer, after which he released his proposal to revise 421-a with wage subsidies for construction workers. REBNY was concerned about this stipulation, claiming it would increase construction costs by up to 30 percent, but a press release sent yesterday evening reports that they've reached an agreement with the Trades Council to move ahead with Cuomo's version of the plan, which, in addition to setting a $60 hourly wage for qualifying projects in Manhattan and $45 in Brooklyn and Queens, extends the tax breaks up to 35 years (up from de Blasio's proposed 25 years) and mandates newly created affordable units be kept in place for 40 years.
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City says under-construction 421-a buildings must include housing for the homeless

555Ten, an Extell building that would be affected by the 421-a changes

November 7, 2016

City says under-construction 421-a buildings must include housing for the homeless

By Dana Schulz

As 6sqft reported last week, Governor Cuomo, developers, and unions have been engaging in closed-door talks to bring forth his revision of the city's 421-a program that includes wage subsidies and an extension of the previous 25-year tax break up to 45 years. Glaringly (but not surprisingly) absent from the negotiations is Mayor de Blasio, but he's now taking matters into his own hands, at least when it comes to those under-construction buildings that got in to the program before it expired in January. According to the Times, the de Blasio administration introduced a new policy that says these projects must include housing for some of the 60,000 New Yorkers currently living in homeless shelters, but developers, particularly Extell's Gary Barnett, are not happy about the changes.
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November 4, 2016

POLL: Should Cuomo’s revised 421-a plan move forward?

By Dana Schulz

The city's hotly debated 421-a tax abatement program expired in January after a 44-year run. CityRealty reports that the NYC Department of Housing Preservation & Development has seen the number of applications for tax exemption decrease by 45 percent from that time to September 2016, costing the city $1.2 billion this fiscal year. Over the summer, the Governor presented a revised version of the program that would offer wage subsidies to construction workers, but this drew concern from the Real Estate Board of New York, who say the proposal would cause construction costs to rise by up to 30 percent. Now, Politico reports that Cuomo, developers, and unions have been engaging in closed-door negotiations to bring his plan forward and extend the previous 25-year tax break up to 45 years (REBNY and the Mayor had presented a 35-year extension last summer).
Tell us if you think the Governor's plan should move ahead

Affordable Housing

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