Last year we reported when an “affordable” housing lottery was launched at the luxury Port Morris development, The Arches where units were priced at $2,150 for a studio for individuals making $73k a year.
Now, the same 25 story development has unveiled another 60 units under New York City’s Housing Connect affordable housing program and just like the previous units, they are anything but affordable to local residents.
This time around, there is only one studio apartment available and is priced at $2,100 a month for an individual or two person household making anywhere from $72,000 to $124,150 a year.
The lower end of the income requirement is over three times the median income of the area which is $21,737 a year making it out of reach of almost 80% of residents living in Community Board 1 where the development is located just like 276 Grand Concourse just a few blocks north from The Arches.
One bedroom units, of which there are twenty five units available, are priced at $2,221 a month and thirty four two bedroom units that are available are priced at $2,705 a month.
All units have central AC and access to 40,000 square feet of amenities like assigned parking spaces, yoga and dance studio, media room, business center, children’s playroom, and doorman.
The Arches is located at 228 East 135th Street directly in front of the Major Deegan Expressway (like right on top of it) and the street itself is packed with speeding trucks and cars making it a dangerous stretch of roadway.
It’s also part of a several developments that are transforming the South Bronx Waterfront along the Harlem River which is seeing thousands of units of luxury housing currently under construction that will change the area forever.
Bankside, which is under construction behind The Arches, will bring with it 1,500 units across seven buildings and there are plans for another 25 story development next to The Arches as well.
Located right on the waterfront, it’s walking distance to Manhattan across the Madison Avenue or Third Avenue Bridges.
Those interested in applying for these units have until August 19, 2021 to do so and you can do so online here or you can request a paper application by sending a self-addressed envelope to: Tax Solute Consulting C/O The Arches, 185 Marcy Suite 33-A Brooklyn NY 11211. CB # 201.
Preferences go to New York City residents so this lottery is open to not just residents of Community Board 1 in The Bronx but any qualifying applicant living in the five boroughs.
Good luck to those who apply.
Check out the photo gallery below: