The housing lottery has opened for two new affordable rental buildings that are bringing 328 units of housing to the Bronx for very low-income and low-income New Yorkers. The units are part of the Compass Residences, a three-phase affordable housing mixed-use development that came out of a 17-acre rezoning in areas of Crotona Park East and West Farms called the West Farms Redevelopment Plan.
The buildings, located at 1560 Boone Avenue, across from Starlight Park, and 101 East 173rd Street, two miles northwest in Mount Hope, have been constructed through the Extremely Low & Low-Income Affordability Program (ELLA). The available units range from studios renting for $331/month for individuals making 30 percent of the Area Median Income (between $13,303 and $22,410 annually) and three-bedrooms renting for $1,910 for families making 100 percent of the Area Median Income (between $68,126 and $123,800 annually, depending on household size.)
The lottery will remain open through September 10. According to the Compass Residences website, the rentals include “premium-level appliances and quality finishes rivaling the best of luxury rentals.” The development also features retail space, a playground, an after school center, courtyards, and green space. Compass III at 1560 Boone Avenue is slated for completion in December, and will include a 450-seat elementary school.
Compass Residences is a project of Monadnock Development with Signature Urban Properties. Dattner is the architect, while Starr Whitehouse is the landscape architect.
For the full breakdown of available units and income requirements, head this way.