Rendering courtesy of Omni New York
Applications are now being accepted for 351 mixed-income apartments at a new rental building in Jamaica, Queens. Dubbed Archer Green, the development is located at 92-23 168th Street and will feature 15,000 square feet of community space and more than 68,000 square feet of retail. New Yorkers earning 40, 60, 100, and 130 percent of the area median income can apply for the apartments, ranging from $524/month studios to $2,638/month three-bedrooms.
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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.
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