The affordable housing lottery has been launched for Peninsula Building 1B, a 14-story mixed-use building at 720 Tiffany Street in Hunts Point, The Bronx. Designed by WXY Architecture + Urban Design and developed by the New York City Economic Development Corporation, the structure is the first of four new developments bringing 740 affordable units to the area. Available on NYC Housing Connect, 164 units are available to residents at 30 to 80 percent of the area’s median income (AMI), ranging in eligible income from $ 15,772 to $ 118,400.
Residents will have access to a wide range of facilities, including an indoor common room with kitchenette, bicycle storage room, playroom for children, shared laundry room, fitness center and outdoor terrace. The rent includes heating and hot water, where the tenant is responsible for electricity.
At 30 percent of AMI, there are 18 units with a monthly rent from $ 396 to $ 683 for incomes from $ 15,772 to $ 44,400. At 40 percent of AMI, there are 18 units with a monthly rent ranging from $ 549 to $ 949 for incomes from $ 21,018 to $ 59,200. At 50 percent of AMI, there are 18 units with a monthly rent from $ 720 to $ 1,244 for incomes from $ 26,880 to $ 74,000. At 60 percent of AMI, there are 74 units with a monthly rent from $ 908 to $ 1,570 for incomes from $ 33,326 to $ 88,800. At 80 percent of AMI, there are 36 units with a monthly rent from $ 1,232 to $ 2,131 for incomes from $ 44,435 to $ 118,400.
Potential tenants must meet the income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online by February 21, 2022.
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