SOUNDVIEW—The lottery for truly affordable residential units at a brand new development is soon drawing to a close.
Back in August, New York City’s Housing Connect launched a lottery for a brand new development with 283 units spread across three buildings in the Soundview area of the borough.
1755 Watson Avenue LLC is truly a rare, affordable housing development with income requirements at 30, 40, 50, and 60 percent of the Area Median Income for the majority of the units, making it accessible to the majority of local residents. The development also has units for middle-income families which is available at 100 percent of the AMI.
Households making as low as $15,052 can apply for a studio apartment renting for $375 a month or $18,960 for a one bedroom renting for $481 a month which is well below the typical studio in the area which can rent for up to $1,200 and $1,300 for a one bedroom.
The middle-income units available at 100% of the AMI, are renting for $1,225 a month and $1,542.
Located at 1775 Watson Avenue, 1111 Commonwealth Avenue, and 1115 Commonwealth Avenue, once complete, the development will contain a total of 323 apartments of which a total of 131 will be permanently affordable spread across 312,880 square feet among the three buildings.
The development is situated just a couple of blocks from the St Lawrence subway stop on the 6 train and is also easily accessible by the BX4A, BX5 and BX36 bus lines.
The development has many of the typical amenities like a community center, bike storage room, laundry room and also features extras like a media room, yoga and dance studio. Kitchens will have high-end countertops and finishings. A plus for residents is the fact that it will be a smoke-free development once it opens.
As with many of these affordable housing developments, 5% of units are set aside for people with mobility issues, 2% for vision and hearing impaired, 50% for residents who live within Community Board 9, and 5% for New York City employees.
In order to apply, you can do so online by going here or you can request an application by mail by sending a self-addressed envelope to: 1755 Watson Ave LLC, 77 Cuttermill Road
Great Neck, NY 11021.
Please remember, do not submit duplicate applications and only send one application per lottery. Do NOT apply both online and by sending in a paper application. Doing so and applying more than once may disqualify you.
But time is running out and you must hurry up if you haven’t applied. Lottery closes in less than two weeks on October 4, 2021!
Good luck to everyone who applies!
Please note: Welcome2TheBronx is NOT affiliated with this listing or any other real estate developments nor do we receive any commissions from these posts. We are simply bringing the news to you. Please do NOT contact us as we cannot help you with these listings.