Lottery opens for 225 mixed-income units at massive development near Yankee Stadium, from $375/month
Rendering courtesy of the NYC Department of Housing Preservation and Development
A housing lottery opened this week for 225 mixed-income units at a new residential development just a few blocks from Yankee Stadium. Located at 1164 River Avenue in the South Bronx, the 17-story building is part of a larger residential project known as River Crest Apartments, which will bring nearly 750 units of affordable housing to the block. New Yorkers earning 30, 40, 50, 60, 70, and 80 percent of the area median income, or between $15,429 for a single person and $132,400 for a household of seven people, are eligible to apply for the apartments, which range from $375/month studios to $2,059/month three-bedrooms.
Developed by Maddd Equities and designed by Aufgang Architects, 1164 River Avenue offers its residents storage, recreational space, a laundry room, and a 200-vehicle parking garage, according to Yimby. Apartments feature luxury vinyl tile and Caesarstone countertops.
The building, which broke ground last November, comes under the city’s 2018 Jerome Avenue Rezoning, which included 92 blocks along Jerome Avenue in an effort to boost residential and commercial development in the area. Under the plan, 3,000 new units of housing are projected.
The property is part of the River Crest Apartments development, which upon completion will bring a total of 745 affordable housing units to the area. Neighboring 1159 and 1184 River Avenue buildings will bring approximately 500Â affordable units, and provide space for community and retail establishments, according to the Bronx Times.
The River Avenue rental is located close to public transportation, including the B, D, and 4 trains as well as the Bx1, Bx2, and Bx35 buses. It’s also a couple of blocks away from Yankee Stadium.
Qualifying New Yorkers can apply for the affordable units until June 27, 2022. Fifty percent of the units are set aside for residents of Bronx Community District 4. Complete details on how to apply are available here. Questions regarding this offer must be referred to NYC’s Housing Connect department by dialing 311.
If you don’t qualify for the housing lotteries mentioned, visit CityRealty.com’s no-fee rentals page for other apartment deals in the city.
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