More than three dozen “affordable” apartments in a newly constructed building in Long Island City are up for grabs through the city’s affordable housing lottery.
The building, called “The Cove,” is located at 43-12 Hunter St. and 37 “affordable” housing units are available for those who earn at least $68,000 a year.
The Cove, developed by Rockrose, is 18 stories and consist of 123 units, with 86 being market rate.
Applications for the “affordable” units are now open and applicants are required to apply on the NYC Housing Connect website. The lottery is open until Dec. 4.
There is a mix of studio, one-bedroom and two-bedroom “affordable” units on offer.
There are 19 studio apartments available for $1,990 a month to households of one or two people who earn between $68,229 and $118,300 combined annually.
Additionally, there are 13 one-bedroom units on offer for $2,345 a month to households of one to three people who make between $80,400 and $133,120 combined annually.
Five two-bedroom units are available for $3,072 a month to households of two to five people who make between $105,326 and $159,640 combined annually.
The affordable housing lottery has opened for TF Cornerstone’s two-tower development that is part of the Hunters Point South 5,000-unit mega plan.
TF Cornerstone announced today that applications are now being accepted for 185 of the 719 affordable units that are being built. Applicants are required to apply on the NYC Housing Connect website and the lottery is open until Nov. 23.
The 185 units will be in the south tower of the development that is going up at 52-41 Center Boulevard.
There are 80 units at 50 percent Area Median Income up for grabs, as well as 65 units at 130 percent Area Median Income and 40 units at 165 AMI (see chart below).
The units are going to be in demand.
In 2014 when the lottery was held for 925 affordable units as part of Phase 1 of the Hunters Point South development 93,000 people applied. The apartments were built by Related Companies on what’s known as Parcels A and B of the seven-parcel HPS development.