More Affordable Apartments Coming to NYC

More Affordable Apartments Coming to NYC

A number of affordable apartment rental options are coming to New York City. Here is a look at just a few of the developments in the area.

Lottery Active for South Bronx Affordable Apartments

Designed by Dattner Architects, a new 12-story building at East 162nd Street is now available. Located in the Concourse Village area in South Bronx, the building will bring a total of 126 apartments to the area. 88 of these units are being offered through the lottery, with the rest being set aside for the formerly homeless.

Rents on the apartments start at $864 per month and go up to $1,829 per month, with a mix of studios and one-, two- and three-bedroom units being available. The majority of the affordable units, however, are studio and one-bedroom apartments. These affordable units are being offered to those who make between 60 and 80 percent of the area median income, which translates to roughly $31,509 to $88,560 depending upon the size of the family.

Developed by the non-profit organization Services for the Underserved, the building’s amenities include a computer room, a fitness center, on-site laundry facilities, a landscaped community courtyard and a resident manager. Interested individuals have until January 17, 2018 to apply, with those living within Bronx Community Board getting preference on half of the affordable units.

Bronx Affordable Apartments Lottery Begins

180 affordable rentals will soon be available in the Bronx, with interested parties having until January 5, 2018 to apply for consideration. Spread out over two different buildings at 1939 West Farms Road and 1926 Longfellow Avenue, the apartments offer a mix of one-, two- and three-bedroom units starting at $396 per month.

Known as the West Farms Apartments, the development will provide residents with access to an outdoor recreation area, a parking lot, a resident super, a community room, coin-operated laundry rooms and bicycle storage. The apartments are open to those making 30, 40, 50, 60 and 120 percent of the area median income, which translates to anywhere between $15,532 and $132,840 depending upon the unit size and the income bracket. Residents within Bronx Community Board 6 will be given preference on half of the units.

Essex Crossing Offers New Affordable Building for Seniors

Designed by Beyer Blinder Belle, a new Essex Crossing development boasting fully-affordable senior housing is underway. Located at 140 Essex Street and standing 8 stories tall, the development will bring 92 studios to the Lower East Side. Construction of the senior affordable building will soon be underway, with completion expected sometime in 2019.

The apartments, which will be situated on Essex Crossing Site 8, will be open to seniors making between zero to 60 percent of the area median income. This translates to up to $40,000 per year. The building will also feature 9,600 square feet of ground floor retail space.

This development is the second senior affordable building to be developed as part of the megaproject. The first, which is located at 175 Delancey Street, held its lottery for 99 affordable apartments in April and will welcome its residents early next year. Once complete, the Essex Crossing project will bring 561 affordable apartments to the Lower East side.