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‘Affordable’ Housing Lottery–with Studios Going for Nearly $2,250–Opens in Astoria

29-19 Newtown Ave. (Photo: NYC HPD)

Sept. 28, 2020 Staff Report

If $2,241 per month for a studio meets your definition of affordable—then there is a lottery for you.

A new “affordable” housing lottery has opened with 14 units on offer in an Astoria development.

The units, located at 29-19 Newtown Ave., include studios, one bedroom and two-bedroom apartments. Applicants have until Oct. 16 to apply and units will be awarded to qualified tenants via a lottery.

Two studios are on offer that will rent for $2,241 per month; five one bedrooms at $2,362; and seven two bedrooms are going for $2,849.

All units are going to tenants that earn 130 percent of the area median income. Therefore, the minimum income for an individual seeking a one bedroom is $78,858. For a two bedroom, the minimum income for a couple is $91,715.

The building, which is 8 stories and contains 44 apartments (including 30 market rate units), is located two blocks away from the 30th Avenue subway station which serves the N, W trains.

The units come with a patio/balcony, dishwasher, high-end kitchen appliances and countertops. The building includes covered parking, bike storage lockers, outdoor space and a gymnasium. There will also be a community center.

To apply, click here.

HPD

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6 Comments

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gag

The affordability system is a complete joke. Giving tax breaks to developers to they can make a unit or two “affordable” isn’t working, we need something more extreme. Allow developers to make a building as tall and as dense as they want but it will have to have strict price controls.

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onethirdaffordableisenough

the article clearly says “…44 apartments (including 30 market rate units)”

That’s 14 affordable units, almost a third of the building. But I’m sure you’d rather 100% of the units be “affordable” – despite the fact that this would make the project economically unfeasible.

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Anonymous

lol 2241 during the pandemic with record breaking unemployment? these greedy developers never stop

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Why are you so critical of Trump's pandemic response?

Trump caused the record unemployment AND is a luxury real estate developer…you’re against both of those things? I’m not, but then again I’m a patriot.

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somedude

this is hilarious.

right now (i just checked), you can get a studio in a legit luxury high rise (with amenities), and in more desirable locations across the city for less than what is being asked for a studio in this dwarfy building.

i do concede that the applicant requirements might be more restrictive based on 35-45x income depending on which building / location. however, might be more relaxed now with people fleeing certain areas and unemployment on the rise.

do your research, people!
and dont ask how to apply – link is in the article!

Reply
your_neighbor

You wrote “more desirable locations” but a desirable location is really in the eye of the beholder. Real estate is all about location, location and location.

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