INDUSTRY NEWS

New York Build Networking

28 Sep 2020

Affordable Housing Lottery Launches for Hunter’s Point South in Long Island City, Queens

NEW YORK YIMBY
Hunter's Point South Redesign rendering, courtesy TF Cornerstone

The housing lottery is now open for 52-41 Center Boulevard, one of two Hunter’s Point South towers on Long Island City‘s waterfront in Queens. Developed by TF Cornerstone and designed by ODA, 52-41 and 52-03 Center Boulevard will bring 1,194 new residential units in the form of studios, one-bedrooms, and two-bedrooms ranging in monthly rent from $698 to $2,704. Sixty percent of units will be allocated as permanently affordable to low-, moderate-, and middle-income families, and 100 apartments will go to low-income seniors. Available on NYC Housing Connect are the first 185 affordable units at 5241 Center Boulevard, part of a total 719 affordable units. Half of the total affordable units are set aside for the local community within Queens Community Board 2.

The master-planned collaboration with NYC Department of Housing Preservation and Development and NYC Housing Development Corporation also brings a half-acre public park, school, and playground. In addition to all the outdoor space, residents will have access to amenities in both buildings, including a club room and lounge, children’s playroom, fitness center, yoga room, laundry facilities, and HomeWork, a co-working space for residents.

5241 Center Boulevard will also have a 7,700-square-foot community facility with a separate lobby and 8,900 square feet of ground-floor retail space. Between the developments will be a 22,000-square-foot park designed by Matthews Nielsen Landscape Architects. 52-03 Center Boulevard, the tower to the north, will have a 150-car parking garage, a community facility run by Selfhelp Community Services, and a 572-seat K-8 school with a playground.

“For generations, TF Cornerstone has been a leading driver of economic development, housing, public parks, schools, and philanthropy in Long Island City, and we are thrilled to be continuing that at Hunter’s Point South,” said Zoe Elghanayan, principal and vice president at TF Cornerstone. “As the first of few new buildings to commence leasing in the wake of a global pandemic, 5241 and 5203 Center Blvd are much needed sanctuaries, providing new affordable housing, vast amounts of open space, light, and air in all directions, dedicated community spaces, and the security of being part of a TF Cornerstone community.”

At 50 percent of the AMI, there are 20 affordable studios with a $698 monthly rent for incomes ranging from $26,126 to $45,500, 20 one-bedrooms with a $883 monthly rent for incomes ranging from $32,743 to $51,200, and 40 two-bedrooms with a $1,071 monthly rent for incomes ranging from $39,909 to $61,400. At 130 percent of the AMI, there are 35 studios with a $1,787 monthly rent for incomes ranging from $63,463 to $118,300, ten one-bedrooms with a $2,244 monthly rent for incomes ranging from $79,406 to $133,120, and 20 two-bedrooms with a $2,704 monthly rent for incomes ranging from $95,898 to $159,640. At 165 percent of the AMI, there are 34 studios with a $2,028 monthly rent for incomes ranging from $71,726 to $150,150 and six one-bedrooms with a monthly rent of $2,544 for incomes ranging from $89,692 to $168,960. Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than November 23, 2020.

Leasing for the remaining 209 market-rate units is expected to begin toward the end of this year. Leasing for the 534 affordable and 266 market rate units in the sibling North tower, located at 5203 Center Boulevard, is expected to commence in the summer of 2021.


Source: NEW YORK YIMBY

VIEW ALL INDUSTRY NEWS
Loading

SIGN UP TO RECEIVE OUR MONTHLY NEWSLETTER