Related's residential project at 460 Washington Street in Tribeca is plugging along, with construction on the building (designed by BKSK Architects) getting close to being done. One sign that the development is nearing completion: a lottery for its 22 affordable units is now open on the city's HousingConnect website. DNAInfo reports that applications for the apartments (five studios, six one-bedrooms, and 11 two-bedrooms) are now live, and will be accepted until December 14; applications by residents of the area covered by Community Board 1 will be given preferential treatment.
The development itself (which Tectonic Photo got some shots of earlier this year) will have 107 units over 10 stories; it's an 80/20 building, so the remaining 95 units will be market-rate, though no word on what the starting rents will be for those just yet. The building itself has luxury amenities—24-hour concierge, a roof deck, and the like—and while tenants in the affordable units will have access to those, they may be charged an additional fee for the pleasure, according to DNAInfo. (No word yet on what that would be, either.)
The units are well under market rate for the area: studios go for $800, one-bedrooms for $860, and two-bedrooms for $1,041. In order to qualify, applicants must make between $28,800 and $36,300 for a studio; for a one-bedroom, it's between $30,892 and $41,460, depending on whether you're a single or two-person household; and for a two-bedroom, the income range is $37,132 to $51,780, depending on the size of the family.
· Lottery Open for 22 Affordable Apartments in New Upscale TriBeCa Building [DNAInfo]
· Affordable Housing Wire archives [Curbed]
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