Just five months after 535 Carlton, the COOKFOX-designed rental building in the Pacific Park megaproject, topped out, its 298 units are going to hit the market. Per a press release from Greenland Forest City Partners, the lottery for those apartments—all of which have been deemed affordable—will open tomorrow on NYC Housing Connect.
From the press release:
192 of the units have been set aside for residents earning between 101 and 165 percent of the area median income; this means families earning up to $173,415/year will be eligible for below-market housing at the state-of-the-art property.
105 of the units have been set aside for residents earning between 30 percent and 100 percent of the area median income, or as little as $20,126/year.
The rents are based on five different income bands, which are outlined more thoroughly on the HPD application. The building has 66 studio apartments (which will go from $548 to $2,137); 129 one-bedrooms (asking $589 to $2,680); 87 two-bedrooms (asking $713 to $3,223); and 15 three-bedrooms (priced from $817 to $3,716).
The building itself is one of two within Pacific Park that's designed by COOKFOX (the all-condo 550 Vanderbilt is the other), and has amenities like communal terraces and a parking garage. The lottery will be open through August 9, and move-ins are expected before the end of the year.
This is the second affordable housing lottery that’s opened at the site, with the rentals at 461 Dean Street, SHoP’s modular building, hitting the market earlier this year.
Though the lottery for that has already closed, Forest City has not yet released the number of applicants those apartments received—though we’re guessing it was a whole heckuva a lot. UPDATE: There were a whopping 84,000 applications for the lottery at 461 Dean. Whoa.
And earlier this week, the megaproject’s second all-affordable building, located at 38 Sixth Avenue and designed by SHoP Architects, topped out.
UPDATE: There are also some new renderings for the project, below: