Looking at the number of applicants for new affordable housing developments makes one thing very clear: a lot of New Yorkers need affordable housing. The lottery for 924 units at Hunters Point South closed on December 15, and the city received a whopping 92,700 applications, meaning that more than 100 people are competing for each unit. More than 25,000 of those applications were filed in the first two weeks of the lottery.
The units are located in two towers currently under construction at 1-50 50th Avenue and 1-55 Borden Avenue. The apartments are available to a range of income levels, with low-income studios starting at $494, and three-bedrooms at $743. Moderate income studios start at $1,561, and three-bedrooms at $2,729. The bulk of the units are for families with moderate incomes, while 186 apartments are available for low income families. The income qualifications vary depending on family size, but for people of moderate means, this can be defined as a single person making $55,000 to a family of six bringing in $220,000. On the lower side, a single person needs to make less than $20,000. Move-ins will start this spring.
· More Than 90,000 Applicants Vie for 925 Affordable Units in Hunters Point [DNAinfo]
· More than 92,000 applications pile in for Queens affordable housing development [NYDN]
· Go Inside Hunters Point South's In-Progress Affordable Units [Curbed]
· All Hunters Point South coverage [Curbed]