The housing lottery has opened for 164 income-restricted apartments in a luxury Mott Haven development called the Estela at 445 Gerard Ave.
The Estela is a two-building luxury residential apartment complex with 544 units, developed by The Domain Companies which received subsidies by including income-restricted units through the NYC Department of Housing Preservation (HPD) 421-a tax incentive program.
While the doors opened to the market-rate units in May, the income-restricted units will be filled through the lottery, which closes on Sept. 12. Then, applicants will receive a lottery number within 2-3 weeks, and will find out if they were selected within 1-2 months.
The lottery has studios, one-bedrooms and two-bedrooms for households earning up to 80% and 130% of the area median income (AMI), with accepted household incomes ranging from $57,429 to $198,250, spanning income brackets that HPD considers low, moderate and middle incomes.
This pet-friendly development has an impressive set of amenities, such as a gymnasium, party room, shared workspace, children’s playroom, green space and a rooftop terrace, according to Housing Connect, a city-run website with affordable housing options.
The development also has screening and game rooms, a pet spa and dog run, 24/7 concierge service and a yoga room, and the units even have smart home features, according to Domain. The development company boasts more than 35,000 square feet of amenities on site.
An organic grocer and deli is slated to open later in the year, according to the developer.
“We’re thrilled to be moving one step closer to providing residents with an unparalleled, full-service living experience right in the heart of the South Bronx,” said Matt Schwartz of The Domain Companies. “Domain is committed to delivering high-quality projects that strengthen communities, and we look forward to furthering our mission with Estela. We’re excited to provide residents with 544 luxury apartments, including affordable housing options, stunning interior design, quality, and expansive amenities, as well as sustainable energy-efficient features.”
While the rents are designed to be affordable for households making 80% and 130% AMI — based on the city’s AMI calculator — people in lower income brackets can apply as long as they would not be paying more than a third of their income on rent, to avoid being considered rent-burdened.
For example, the cheapest units in the building are two studios with a monthly rent of $1,576 per month, which are intended for households making up to 80% AMI. The lowest income eligible for these studios is $57,429, which is equivalent to just under one third of the annual rent. But one person making up to $79,120 or two people making a combined $90,400 — incomes that fall at 80% AMI — would also qualify.
As long as applicants are within the range provided on the Housing Connect website for each unit, their income will not impact their lottery chances, according to HPD spokesperson William Fowler.
Across all the income-restricted units, the accepted incomes go all the way up to $198,250, for a household of five people living in a two-bedroom apartment at the 130% AMI point.
People with housing vouchers can apply for units above their income as long as the voucher would cover the amout of rent, Fowler said.
There are some preferences that will come into play with the lottery.
Half of the income-restricted units will give preference to local Community District 1 residents and 5% to city employees. Additionally, 5% of units will give preference to people with mobility issues and 2% to people with vision and hearing problems.
For more details about the lottery and to apply, visit the Housing Connect website at housingconnect.nyc.gov.
Market-rate apartments in the building start in the mid-$2,000’s and go up to the mid-$4,000’s per month, according to Domain.
Reach Aliya Schneider at aschneider@schnepsmedia.com or (718) 260-4597. For more coverage, follow us on Twitter, Facebook and Instagram @bronxtimes
