South Bronx development Bankside opens lottery for 145 middle-income units, from $2,525/month
Renderings courtesy of ArX Solutions
Applications are currently being accepted for newly-constructed middle-income apartments at the massive mixed-use development Bankside in the South Bronx. As part of the project’s second phase, Lincoln at Bankside contains 921 apartments, 145 of which are rent-restricted and available through the housing lottery. Qualifying New Yorkers earning between $86,572 annually for a single-person household and $215,150 annually for a household of seven can apply for the apartments, priced from $2,525/month studios to $4,373/month three-bedroom apartments.
Bankside is a $950 million project in Mott Haven being developed by Brookfield Properties, which purchased the land in 2018 for $165 million, a record for the priciest deal in the Bronx at the time. Designed by Hill West Architects, Bankside consists of seven interconnected towers with more than 1,350 apartments along 4.3 acres of waterfront.
Lincoln at Bankside includes studios to three-bedroom apartments with floor-to-ceiling windows, stainless steel appliances, and in-unit washer-dryers. According to the lottery page, residents will get one month free on any lease term and will not be required to pay a security deposit. Plus, the affordable apartments are rent-stabilized for 35 years.
Amenities at the tower include a two-story wellness center, residents lounge, co-working space, indoor lap pool, indoor basketball court, parking, pet care, and a roof deck.
The prices for the rent-restricted rentals are $2,525/month for studios, $2,825/month for one-bedrooms, $3,075/month for one-bedrooms with extra closet space and a kitchen island, $3,400/month for two-bedrooms, and $4,373/month for three-bedrooms.
To be eligible for the apartments, households must earn 130 percent of the area median income, or between $86,572 and $138,840 to qualify for the studios, between $96,858 and $138,840 for the one-bedrooms, between $116,572 and $187,330 for the two-bedrooms, and between $149,932 and $215,150 for the three-bedrooms.
According to Welcome 2 The Bronx, the median household income served by Community Board 1, where Bankside is located, is $27,158 annually. The building could be open for tenants as soon as this spring.
The project’s first tower, Third at Bankside, launched leasing last year, along with a housing lottery for 134 of its total 458 apartments. Market-rate rentals at Third at Bankside currently start at $2,955/month for studios.
The project also includes a 34,000-square-foot public waterfront and promenade designed by MPFP, as well as retail and community facility spaces.
Qualifying New Yorkers can apply for the affordable units until April 24, 2023. 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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