The Bronx is the state’s fastest growing county, and its development boom continues to add hundreds of units to the city’s depleted affordable housing stock. Now today, an affordable housing lottery has officially kicked off at 655 Morris Avenue that will bring 140 below-market rate units to the revitalized Melrose/Concourse Village section of the borough. Rising 15 stories from a long-vacant lot, the 217,579-square-foot development will contain a mix of apartment sizes: seven studios are priced from $788 per month; 62 one-bedrooms from $847; 65 two-bedrooms from $1,025; and 6 three-bedroom units from $1,182.
The apartments are created through the city’s LAMP program and are able to be rented out at affordable rents because of the low-cost financing offered to the developers. The program is reserved for households earning 60 percent of the annual median income (AMI) of the NYC region, therefore individuals can have a maximum income of $38,100 and households of six up to $105,600.
Amenities at the Morris Avenue Apartments include a secured entry using facial recognition technology, community room, laundry room, bicycle parking, Energy STAR dishwashers, and on-site parking for 106 vehicles. The environmentally-conscious project was designed by the housing experts at The Marvin Meltzer Housing Studio and utilizes a co-generation system that will use natural gas-fueled equipment to make electricity, and its waste heat will be reused to heat the water. The project developers Omni New York started construction of the $63.8 million building early last year, and occupancy should begin sometime this summer.
The deadline to submit an application for the lottery is July 8, 2016 and qualified persons can apply online here. And find below 6sqft’s map of other ongoing housing lotteries:
- Lottery Commences for 79 Affordable Units in Crotona Park East
- Live Near the Newly Opened High Bridge for $975/Month
- Lottery Opens for 10 Affordable Units in the Bronx’s Crotona Park East Neighborhood
Neighborhoods : Bronx