Affordable Housing

January 30, 2017

De Blasio pushes again for ‘mansion tax’ on home sales over $2M

Mayor De Blasio will renew his call for a "mansion tax" before this state Legislature in Albany today, reports Politico. In support of rent subsidies for 25,000 low-income senior citizens, the mayor has detailed a proposal that will raise the property transfer tax to 2.5 percent for any sale above $2 million. “We are asking for some basic tax fairness from the wealthiest New Yorkers so low-income seniors can afford their rent and continue to call the greatest city in the world their home,” the mayor said in a statement.
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January 27, 2017

City says Cuomo’s ‘Affordable New York’ plan would cost an extra $820M

By Dana Schulz

Governor Cuomo recently announced that his revised version of the city's 421-a tax exemption program would officially be moving forward. He said the initiative, dubbed "Affordable New York," would create 2,500 new affordable housing units per year, but a new study from the city's Department of Housing Preservation and Development says this will come at a cost. As Politico reports, Cuomo's changes to the program would cost NYC an additional $820 million over 10 years if approved by the state Legislature, $82 million a year more than Mayor de Blasio's proposed 421-a overhaul in 2015.
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January 27, 2017

Lottery opens for 40 affordable units across Central Harlem, starting at $822/month

By Dana Schulz

Second to the Bronx, Central Harlem has seen perhaps the most new affordable housing opportunities in the city. The latest is a 40-unit lottery spread across four buildings near Jackie Robinson Park--304 West 152nd Street, 232 West 149th Street, 2797 Frederick Douglass Boulevard, and 2472 Adam Clayton Powell, Jr. Boulevard. The units are available to those earning 50 or 60 percent of the area media income and range from $822/month studios to $1,371/month four-bedrooms.
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Affordable Housing

Rendering of 86 Fleet Place via Goldstein, Hill & West (L); Construction as of October 2016, via CityRealty

January 26, 2017

Live in John Catsimatidis’ curvy Downtown Brooklyn rental tower from $833/month

By Dana Schulz

Way back in 1982, the CEO and owner of Red Apple Group, John Catsimatidis (you may know him better as the billionaire owner of Gristedes or for his failed Republican run in the last mayoral election) paid $500,000 for a 2.5-acre, four-block site in Downtown Brooklyn, on the western edge of Fort Greene. Thirty-five years later, construction is wrapping up on the final, and by far the tallest, of the four-tower development. The curving glass building at 86 Fleet Place was designed by Goldstein, Hill & West and will rise 32 stories/350 feet and house 440 rentals, 29 of which are set aside as affordable and have just come online through the city's affordable housing lottery. They range from $833/month studios to $1,247/month three-bedrooms and are available for those earning 45 to 60 percent of the area media income.
Find out if you qualify here

January 16, 2017

Cuomo dubs revised 421-a plan ‘Affordable New York,’ advances new legislation

By Dana Schulz

A year after the city’s 421-a tax exemption program expired, a new version of the affordable housing incentive is officially moving forward. In August, Governor Cuomo released a new version of the plan that which include wage subsidies for construction workers and extended terms for the tax breaks, and after the Building and Construction Trades Council of Greater New York and the Real Estate Board of New York (REBNY) reached an agreement in November to move ahead with this version, the Governor's office now reports that they'll be advancing new legislation to move ahead the program that's now been re-named "Affordable New York." Cuomo says this will create 2,500 new affordable housing units per year.
All the details this way

January 13, 2017

Bronx Commons will bring 305 affordable apartments and a new music venue to the South Bronx

By Dana Schulz

Not only did the Times recently name the South Bronx one of this year's hottest travel destinations, but the up-and-coming 'hood has become a hotbed for new development. Many of these include affordable housing, which is the case at Bronx Commons, a mixed-use development in the Melrose Commons neighborhood that broke ground this morning. The $160 million project includes 305 all-affordable apartments, retail, and a landscaped public plaza, all of which will be anchored by the Bronx Music Hall, a new 300-seat venue that will serve as an "arts-centered community hub focused on the deeply rooted history of cutting edge Bronx music," according to a press release from developers WHEDco and BFC Partners.
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January 13, 2017

Third lottery opens at Pacific Park Brooklyn, apply for 303 affordable units from $532/month

By Dana Schulz

Last spring, the first housing lottery opened at Pacific Park Brooklyn when 181 affordable units at SHoP's 461 Dean Street (the world's tallest modular tower) came online. It was followed a few months later by 298 openings at 535 Carlton Avenue, COOKFOX's entirely affordable building, and now the third set of apartments for low- to middle-income New Yorkers is open. SHoP Architects also designed an all-affordable building at 38 Sixth Avenue, adjacent to the Barclays Center, and as of today these 303 residences are up for grabs, ranging from $532/month studios to $3,695/month three-bedrooms. Households earning between 101 and 165 percent of the area media income (or up to $173,415 annually) are eligible for 198 of the units, while 105 units are set aside for those earning between 30 and 100 percent (as low as $20,126 a year).
More details and the whole qualification breakdown

January 12, 2017

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

By Dana Schulz

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.
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Affordable Housing

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.
All the details

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.
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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.
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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

December 14, 2016

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.
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Affordable Housing

Affordable Housing

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