Norwood Gardens, at 400 E 203rd Street and Webster Avenue is now accepting applications for 117 “affordable” housing units.
The 11 story building has rents ranging from $865/month for studios to $2,302/month for three-bedroom units depending on income ranges of $31,989 for a family of 1 to $143,910 for a family of 6 which represents 30% to 130% of the Area Median Income (aka the misleading AMI).
Norwood Gardens features a recreation room as well as a fitness room and is located just a few short blocks to the D train at 205 Street and Metro North’s Botanical Garden Station.
50% of units will be set aside for qualifying residents of Community Board 7. Key word is “qualifying” and once the city exhausts applications from CB7 and if it can’t fill the 50% quota then the building is opened up to other residents which is why you rarely if ever get 50% residents from the actual neighborhood.