New York City has launched a housing lottery for 129 units in an 11-story residential building in East Tremont.
The building, called Belmont Cove, is located at 656 E. 176th St., and all the units in the building are classified by the city as affordable.
Of the 129 units, 16 are available for those earning 30% of the area median income, 38 are for those earning 50% of the area median income, and 75 are for those earning 70% of the area median income. Studio apartments are meant for up to two residents, one-bedrooms up to three residents, two-bedrooms up to five residents, and three-bedrooms up to seven residents.
The units for people earning 30% of the area median income include two studios, eight one-bedroom units, five two-bedroom units and one three-bedroom unit. These studio units have a monthly rent of $465 and are meant for individuals/households that earn an annual income ranging from $18,480-$37,290.
The one-bedroom units for those earning 30% of the area median income have a monthly rent of $591 and are for households earning $23,143-$41,940 in annual income. The monthly rent for the two-bedroom units is $700 and intended for households earning $27,738-$50,310 annually. The three-bedroom unit has a monthly rent of $800, meant for residents earning an annual income totaling $32,023-$57,780.
Units for those earning 50% of the area median income consist of four studios, 20 one-bedrooms, 12 two-bedrooms and two three-bedrooms. The studios have a monthly rent of $921 and are meant for households/individuals who earn $34,115-$62,150 annually. The one-bedroom units cost $1,159 a month and are meant for households earning an annual income of $42,618-$69,900. The monthly rent for the two-bedroom units is $1,383, and they are for residences earning $51,155-$83,850 annually. The three-bedroom units have a monthly rent of $1,589 and are meant for residents with a combined annual income of $59,075-$96,300.
The units for those earning 70% of the area median income is comprised of four studios, 41 one-bedroom, 20 two-bedroom and 10 three-bedroom. The studios have a monthly rent of $1,345 and the people living there must have a combined annual income ranging from $48,652-$87,010. The one-bedroom units have a monthly rent of $1,689 and are meant for those earning $60,789-$97,860 annually. The monthly rent for the two-bedroom units is $2,018, and they are for households with an annual income of $72,926-$117,390. The three-bedroom units cost $2,323 in monthly rent and are for households with an annual income adding up to $84,240-$134,820.
Amenities for residents of Belmont Cove include high-speed internet, a shared laundry room, a recreation room, a playground, an outdoor terrace, an elevator and bike storage lockers. Residents will also have online options for leasing, paying rent and making maintenance requests. The building is smoke-free. Tenants will be responsible for electricity.
Those who intend to apply for the housing units at Belmont Cove must meet the housing and income size requirements. New York City residents will receive a general preference for units. Applications must be postmarked or submitted online by Oct. 21. Qualified applicants will also be required to meet additional selection criteria.
The building was designed by David Danois of Danois Architects and being developed by Mastermind, Ltd.
Those interested in applying for this housing lottery can do so online by clicking here. Applications can also be requested via mail by sending a self-addressed envelope to 1465 Nelson Ave., Suite A, Bronx, NY 10452.
