Affordable Housing

NYC unveils rules for 485-x tax break, office-to-residential incentive

Credit: Bex Walton on Flickr

October 8, 2024

NYC unveils rules for 485-x tax break, office-to-residential incentive

By
The city's Department of Housing Preservation and Development (HPD) on Monday released proposed rules for 485-x, the tax exemption that replaced 421-a, and the new 467-m incentive for converting offices into housing. The proposals must be finalized before HPD can approve applications for both programs, The Real Deal reported.
find out more
Elizabeth Street Garden served eviction notice by city

Photo by James and Karla Murray exclusively for 6sqft

October 3, 2024

Elizabeth Street Garden served eviction notice by city

By
Despite last-ditch efforts from New York City icons like Martin Scorsese and Robert De Niro, Little Italy's Elizabeth Street Garden received an eviction notice from the city this week. The nonprofit that oversees the garden said they have two weeks to vacate as the city moves forward with plans to build affordable senior housing and retail space on the unique green space. Elizabeth Street Garden said it plans to "continue to work with our legal team to address the eviction."
learn more
New Astoria rental launches lottery for 28 middle-income apartments, from $2,275/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

October 1, 2024

New Astoria rental launches lottery for 28 middle-income apartments, from $2,275/month

By
On a central Astoria block, a brand new rental is launching a lottery for below market-rate apartments. At 29th Street and Broadway, the Amara offers high-end apartments and amenities, including a parking garage and electric vehicle charging. Qualifying New Yorkers earning 130 percent of the area median income can apply for the 28 middle-income apartments, priced from $2,275/month studios to $3,700/month two-bedrooms.
Do you qualify?
NYC’s first mixed-use affordable housing and industrial development opens in Brownsville

Photo by Michael Hnatov, courtesy of GMDC

September 26, 2024

NYC’s first mixed-use affordable housing and industrial development opens in Brownsville

By
New York City’s first mixed-use development combining affordable housing and manufacturing space is now complete in Brownsville. The $118 million project converted the former Fox's U-Bet Chocolate Syrup factory into 39,000 square feet of light industrial space on the ground floor with 174 units of affordable and supportive housing above it. Designed by THINK! Architecture and Design, the complex addresses two city priorities by adding affordable housing and supporting new jobs.
details this way
‘City of Yes’ housing plan approved by City Planning Commission

Image courtesy of amanderson2 on Flickr

September 25, 2024

‘City of Yes’ housing plan approved by City Planning Commission

By
In a win for Mayor Eric Adams, the City of Yes housing proposal has cleared the first hurdle of the approval process. The City Planning Commission (CPC) on Wednesday voted 10 to 3 to approve Adams' City of Yes for Housing Opportunity plan, which aims to address New York City's housing shortage by creating more than 100,000 new homes over the next 15 years through a series of zoning changes. Now, the plan heads to the City Council, where a more contentious debate is expected, as some council members have already voiced opposition to several major proposed changes in their districts.
Learn more
Phase two of Greenpoint Hospital conversion begins, adding 311 affordable homes

Credit: Architecture Outfit and Magnusson Architecture & Planning

September 19, 2024

Phase two of Greenpoint Hospital conversion begins, adding 311 affordable homes

By
The Hudson Companies and St. Nicks Alliance on Wednesday, in collaboration with the city's Department of Housing Preservation and Development (HPD), broke ground on the second phase of Kingsland Commons, a transformation of the former Greenpoint Hospital campus into an affordable housing complex. Designed by Magnusson Architecture and Planning (MAP) and Architecture Outfit, this phase includes an 18-story building with 311 permanently affordable units for extremely low- and very low-income residents, including formerly homeless individuals and families.
Find out more
Astoria rental opens lottery for 43 luxury apartments, from $1,974/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

September 18, 2024

Astoria rental opens lottery for 43 luxury apartments, from $1,974/month

By
A housing lottery opened for 43 mixed-income apartments at a new residential development in Astoria. Located at 21-11 31st Avenue, the seven-story building offers luxury living, easy access to Manhattan, and endless dining, retail, and entertainment options. New Yorkers earning 80 and 130 percent of the area median income can apply for the one-bedroom apartments, priced at $1,974/month and $2,600/month.
find out if you qualify
182 apartments available at huge luxury high-rise in Jamaica, from $1,596/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

September 6, 2024

182 apartments available at huge luxury high-rise in Jamaica, from $1,596/month

By
Applications are now being accepted for 182 mixed-income apartments at a new luxury rental tower in Jamaica, Queens. Located at 163-05 Archer Avenue, the Monarch is a 24-story building with 605 apartments, state-of-the-art amenities, and retail space. New Yorkers earning 80 and 130 percent of the area median income can apply for the units, priced from $1,596/month for one-bedroom units to $3,753/month for two bedrooms.
learn if you qualify
Dumbo rental opens lottery for 66 luxury apartments, from $3,105/month

Renderings courtesy of the NYC Department of Housing Preservation and Development

August 30, 2024

Dumbo rental opens lottery for 66 luxury apartments, from $3,105/month

By
A lottery opened this week for 66 middle-income apartments at a residential complex in the Brooklyn neighborhood of Vinegar Hill, next to Dumbo. Located at 218 Front Street, the Lightwell is a seven-story, two-building development offering residents brand-new luxury apartments designed to seamlessly blend indoor and outdoor living. New Yorkers earning 130 percent of the area median income can apply for the units, priced from $3,105/month for studios to $3,963/month for two bedrooms.
find out if you qualify
Lottery opens for 90 mixed-income apartments at first Gowanus rezoning project, from $784/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

August 27, 2024

Lottery opens for 90 mixed-income apartments at first Gowanus rezoning project, from $784/month

By
A housing lottery launched this week for 90 mixed-income apartments at the first residential project developed under the Gowanus rezoning. The two-tower rental at 420 Carroll Street includes 360 apartments, 25 percent of which are priced below market rate, commercial space, and a new public promenade along the Gowanus Canal. New Yorkers earning 40, 60, 100, and 130 percent of the area median income can apply for the units, priced from $784/month for studios to $3,298/month for three bedrooms.
learn if you qualify
165 affordable apartments available at new Brownsville housing complex, from $454/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

August 23, 2024

165 affordable apartments available at new Brownsville housing complex, from $454/month

By
Applications are now being accepted for 165 affordable apartments at a new housing complex in Brownsville, Brooklyn. Located at 589 Christopher Avenue, the building is the second and final phase of Ebenezer Plaza, a sprawling mixed-use development bringing much-needed affordable housing to the community. New Yorkers earning 30, 50, 70, and 80 percent of the area median income can apply for the units, priced from $454/month for studios to $2,949/month for three bedrooms.
learn if you qualify
Celebrities join last-minute effort to save Elizabeth Street Garden

Photo by James and Karla Murray exclusively for 6sqft

August 23, 2024

Celebrities join last-minute effort to save Elizabeth Street Garden

By
With its eviction looming, Little Italy's Elizabeth Street Garden is throwing one last hail mary. New York celebrities Robert De Niro, Martin Scorsese, and Patti Smith penned letters to Mayor Eric Adams this week, asking him not to build an affordable senior housing development on the city-owned site of the community garden, a plan approved in 2019 but delayed by legal challenges. The A-listers join thousands of residents who oppose replacing the unique green space with apartments, despite the city's current housing crisis. Demolition of the garden could begin next month after the nonprofit that runs the space lost two separate court battles.
find out more
Adams directs NYC agencies to find city-owned land for potential housing development

Photo © 6sqft

August 21, 2024

Adams directs NYC agencies to find city-owned land for potential housing development

By
Mayor Eric Adams is finding new ways of meeting his goal of building 500,000 new homes in New York City over the next decade. The mayor on Wednesday signed an executive order directing every city agency to determine if housing can be built on property it owns. As the New York Times first reported, this could mean constructing new homes on properties like underused parking lots or garages.
more here
Harris proposes 3 million new homes, $25K in down payment assistance

Image courtesy of Wake Technical Community College on Flickr

August 20, 2024

Harris proposes 3 million new homes, $25K in down payment assistance

By
Vice President Kamala Harris last week released several proposals to lower housing costs for Americans if elected. During a speech in North Carolina on Friday, Harris outlined her plans to construct three million new housing units, expand tax incentives for developers who build affordable rentals, encourage the construction of starter homes for first-time homebuyers, and provide $25,000 in down-payment assistance for first-time buyers.
Learn more
Landlords register more rent-stabilized units to avoid fines

Image courtesy of Ruoyu Li on Unsplash

August 19, 2024

Landlords register more rent-stabilized units to avoid fines

By
Thousands more rent-stabilized apartments have been filed with the state of New York this year after a new law passed last year that fines landlords who fail to register units, as The City first reported. So far in 2024, roughly 919,500 apartments have been registered, up from between 750,000 and 800,000 registrations in recent years.
find out more
Luxury rental near Fordham University opens lottery for 50 apartments, from $2,200/month

Rendering courtesy of the NYC Department of Housing Preservation and Development

August 19, 2024

Luxury rental near Fordham University opens lottery for 50 apartments, from $2,200/month

By
A housing lottery has opened for 50 mixed-income apartments at a new luxury rental near Fordham University in the Bronx. Located at 4720 3rd Avenue in Belmont, the Arabella offers residents brand-new units and modern amenities, all in a prime location. New Yorkers earning 80 and 130 percent of the area median income can apply for the units, priced from $2,206/month for one-bedroom apartments to $3,950/month for three bedrooms.
learn if you qualify
Converted 19th-century St. John’s College building in Bed-Stuy opens lottery, from $2,495/month

All renderings courtesy of Woods Bagot

August 13, 2024

Converted 19th-century St. John’s College building in Bed-Stuy opens lottery, from $2,495/month

By
A 19th-century Romanesque Revival building in Bed-Stuy originally home to St. John's College is now a luxury rental building. The Hartby, located on the corner of Willoughby and Lewis Avenues, is an adaptive reuse conversion of the former school, designed in the 1870s by Patrick Keely, a prolific architect for the Catholic Church. Developed by Property Resources Corporation and designed by Woods Bagot, the Hartby opened a housing lottery for 62 rent-stabilized apartments this week. New Yorkers earning 130 percent of the area median income can apply for the residences, priced from $2,495/month for studios, $2,795/month for one-bedroom units, and $3,939/month for two-bedroom units.
find out if you qualify
Hudson Yards high-rise opens lottery for 114 apartments, from $1,655/month

Renderings courtesy of Conway + Partners

August 9, 2024

Hudson Yards high-rise opens lottery for 114 apartments, from $1,655/month

By
A new luxury rental in Hudson Yards opened a lottery this week for 114 mixed-income apartments. Rising 46 stories at 550 Tenth Avenue, the Maybury offers 453 residences with incredible views and 20,000 square feet of indoor and outdoor amenities, including a rooftop sky lounge. New Yorkers earning 70 and 125 percent of the area median income can apply for the units, priced from $1,655/month for studios to $3,861/month for two bedrooms.
learn if you qualify
Adams announces more funding to help NYC homeowners build accessory dwelling units

Credit: Ed Reed/Mayoral Photography Office on Flickr

August 6, 2024

Adams announces more funding to help NYC homeowners build accessory dwelling units

By
New York City will expand a pilot program that helps homeowners build accessory dwelling units (ADUs) on their properties. Mayor Eric Adams this week announced an additional $4 million in state funding for the pilot program "Plus One ADU," launched last November. With the additional funds, the program will provide $395,000 to up to 35 homeowners to build or convert an ADU on their property.
learn more
Live in a new Upper East Side rental tower, from $1,655/month

Renderings courtesy of the NYC Department of Housing Preservation and Development

August 6, 2024

Live in a new Upper East Side rental tower, from $1,655/month

By
Here's a chance to live affordably in one of New York City's most desirable neighborhoods. A housing lottery opened at 300 East 83rd Street in the Yorkville section of the Upper East Side. The 22-story luxury rental, dubbed the Duchess, offers apartments with high-end finishes and amenities like a fitness center, rooftop terrace, and more. New Yorkers earning 70 and 130 percent of the area median income can apply for the units, priced from $1,655/month for studios to $4,020/month for two bedrooms.
DO you qualify?
NYC Council loses lawsuit over housing voucher expansion

Photo courtesy of Boran Pang on Unsplash

August 2, 2024

NYC Council loses lawsuit over housing voucher expansion

By
A state judge on Thursday rejected a lawsuit from the New York City Council that sought to force Mayor Eric Adams to expand a housing voucher program. Manhattan Supreme Court Judge Lyle E. Frank on Thursday ruled the City Council lacks the legal authority to expand the program, a 2023 law originally vetoed by Adams, The City reported. The judge sided with Adams, stating the Council's bill was invalid, "preempted by the state's social services law," and the council had no authority to expand the program.
learn more
In heart of Harlem, new rental tower opens lottery for 117 affordable apartments, from $788/month

Photo of Marcus Garvey Village. © Ondel Hylton

August 2, 2024

In heart of Harlem, new rental tower opens lottery for 117 affordable apartments, from $788/month

By
A housing lottery has launched for 117 affordable apartments at a new rental tower in the heart of Harlem. Located at 212 West 124th Street within the Marcus Garvey Village complex, the 17-story building is 100 percent affordable to low- and moderate-income residents and offers state-of-the-art amenities and modern homes. New Yorkers earning 40, 60, and 70 percent of the area median income can apply for the units, priced from $788/month for studios to $2,232/month for two bedrooms.
learn if you qualify
Vacant East Village church to become 500+ affordable housing units

Streetview of 181 Avenue D. © 2022 Google

August 1, 2024

Vacant East Village church to become 500+ affordable housing units

By
A former Catholic church in the East Village is set to become a residential development with more than 500 affordable housing units. The Archdiocese of New York on Wednesday announced the Parish of St. Brigid-St. Emeric sold the vacant church and school campus at 181 Avenue D to a joint venture led by Community Access, Spatial Equity, Duvernay + Brooks, and Cooper Square Committee. The project will include homes for seniors and formerly homeless individuals, including those with special needs who qualify for supportive services.
learn more
Controversial Clinton Hill migrant shelter may become 600+ apartments

Streetview of 47 Hall Street. © 2023 Google

July 30, 2024

Controversial Clinton Hill migrant shelter may become 600+ apartments

By
A controversial migrant center in Clinton Hill could be converted into a new mixed-use complex with hundreds of apartments and commercial space. RXR Realty on Friday filed plans with the Department of City Planning (DCP) to transform a block-long campus of 10 former manufacturing buildings at 47 Hall Street into a mixed-use campus with 611 apartments as Crain's New York first reported. Since last July, portions of the site have served as a temporary humanitarian emergency response and relief center, currently home to around 3,000 asylum seekers.
find out more
NYC financed the most new affordable homes on record this fiscal year

Photo courtesy of Joshua Armstrong on Unsplash

July 30, 2024

NYC financed the most new affordable homes on record this fiscal year

By
New York City has produced a record-breaking number of affordable housing units for back-to-back years, Mayor Eric Adams announced Monday. In the fiscal year 2024, the city financed 28,944 affordable and public housing units through new construction and preservation efforts, the highest for any fiscal year. The mayor also touted his administration's effort to move a record number of homeless New Yorkers into permanent housing, streamline the housing lottery system, and build the most supportive homes and homes for homeless New Yorkers in the city's history.
learn more
Pitch a story icon

Pitch a Story

We love to hear from you!

"*" indicates required fields

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

"*" indicates required fields

or Call (212) 755-5544

Interested in seeing the property in person?

It’s free, with no obligation.

CityRealty Logo

Distinctive Post Form

"*" indicates required fields

or Call (212) 755-5544
Contact us image

Get in Touch

We love to hear from you!

"*" indicates required fields

Send us a tip image
Delivering New York stories focused on design, lifestyle & real estate.

Send us a Tip

We love to hear from you!

"*" indicates required fields

Interesting in learning more about purchasing a new home?

Let us know what you are looking for and we’ll help you find the home of your dreams. It’s free, with no obligation.

CityRealty Logo
or Call (212) 755-5544

Thinking about selling your home?

We’ll provide current market comps and connect you with a trusted expert.

CityRealty Logo

Sell a Home (Footer)

"*" indicates required fields

or Call (212) 755-5544

Before You Move On
from this Page.

Subscribe for NYC's Lastest Design, Lifestyle,
and Real Estate Trends!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.

Your Passport to NYC:
Subscribe for Local Insights and Stories!

No Worries. We Don’t Spam.

By providing your email address, you agree to our Terms of Use and Privacy Policy.
You can unsubscribe at any time.