Sept. 30, 2014 By Christian Murray
More than 400-people attended an affordable housing meeting in Sunnyside last night to see whether they would be eligible for a piece of the Hunters Point South dream.
The goal for most was to find out how whether they qualified for one of the 925 affordable units on offer—which comes with building amenities such as a fitness center, outdoor terrace, internet café and meeting rooms.
The complex, which contains two buildings, will be comprised of studios, 1 brms, 2 brms and 3 bedroom units.
The application period is expected to begin October 15 and there will be 186 apartments available to those applicants who fall under the “low income” bracket. To qualify as low income, an applicant seeking a studio cannot make more than $30,000—while a family seeking a 3 bedroom unit must earn less than $50,000 per year.
For those who qualify for the “low income” bracket, the rents would range in price from $494 per month for a studio to as high as $959 for a three bedroom.
However, many attendees wanted to find out about the 738 “moderate income” apartments on offer. The maximum income permitted to be eligible for a studio is a little over $130,000, while the maximum household income for a 3 bedroom unit is about $225,000.
The rents for “moderate income” earners will range from $1,561-$1997 for a studio, $1965-2509 for a one bedroom, $2366-$3300 for a 2 bedroom and $2729-$4346 for a three bedroom.
“This is the best apartment deal in New York City,” said Frank Monterisis, the senior vice president of Related Companies. He said that the waterfront complex is a luxury building that comes with all the modern fixtures and amenities.
However, some residents said after the meeting that they thought the “moderate income” apartments were too expensive and complained that they made too much money to qualify for the “low income” units.
One man said during the meeting that he was paying less rent now than what the affordable [moderate income] units would be.
However, while some people grumbled, the rents are still significantly less than what is available on the open market. In a recent report released by Modern Spaces (an advertiser with the Sunnysidepost), the average studio apartment in a luxury Long Island City building is currently renting for more than $2,500, while one bedrooms are going for about $3,200.
The Hunters Point South apartments, unlike the other luxury Hunters Point buildings, will be “permanently” affordable. Therefore, the rent renewals are determined by a New York City formula– based on the Rent Guidelines Board.
Furthermore, once a lease is signed, tenants are not subject to any income restrictions from that point on.
However, the key is getting an apartment in the first place—and tens of thousands of people are expected to apply.
Attendees were told that they would have 60 days to submit their application after the application period begins. Monterisi said that there would be a vigorous marketing campaign once the 60-day period opens. Residents can also register at HuntersPointSouthLiving.com to be notified of the date.
Community Board 2 residents—who currently live in Sunnyside, Woodside, and Long Island City—will be given priority over outside applicants on 50% of the units.
The application can be submitted online at New York Housing Connect (nyc.gov/housingconnect). Applicants will be required to create a personal profile that provides details as to their income, assets and the number of people who are likely to live in a given unit.
There is no actual limit on assets when applying for a “moderate” apartment. The main focus is on the applicant’s earnings and whether those assets will affect that figure.
Successful applicants will be notified during the first quarter of 2015, with the goal for it to be fully leased by spring 2015.
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17 Comments
Golden Man Sean Hannity yiou wish you have money you
That area isn’t all that great.
The whole point of affordable housing was to provide housing for low to moderate income families. I understand the 50k limit for low but what is going on with the 150k limit and the rents for moderate income. Those are not moderate income rents. I’m disappointed.
people generally hate what is new, in time the bored lonely masses that use this site will love it Mr Murray. people should get a life.
The rents for moderate income is ridiculous.
This is ridiculously low and it sucks to be middle class and not eligible for a rebatement. HTW: the new layout for Sunnyside Post is awful.
I believe at the meeting the building developers stated that all the apartments in both towers have been rented. Even with these high rent prices (1,900+) the “low” and “moderate” rent apartments are on the first 6 floors, so no million dollar view for you. Will these residents be allowed to use the same amenities that the other residents can and also will they have to use the “ghetto” entrance which is usually out back out of sight from everyone else. Would love to have these questions answered.
“In a recent report released by Modern Spaces, the average studio apartment in a luxury Long Island City building is currently renting for more than $2,500, while one bedrooms are going for about $3,200.” Modern Spaces is a brokerage firm that has an ad on your page (neither of which is disclosed). How many of these luxury apartments have tenants? Are they full? That would be a good question to answer.
I was at this meeting (grumbling, according to you). The apartments listed are much more than what apartments typically run in the ever more expensive areas of LIC, Woodside and Sunnyside. Amenities cost extra and the apartments get more expensive as the years go by. They are unaffordable for the middle class. They are unaffordable as we are still in a recession. To say otherwise is to be disingenuous.
Are these people gonna use the “poor door” that opens up to the back alley? Or are they gonna walk thru the same Italian blue-laced marble entrance with gold leaf trim that I will?
These prices are insane. I still rent out my top floor 2 br for 1700 to a great young couple. Guess next people in will see not be as lucky as them if I can get away with 2000 – 2500 (easy). Sucks for young couples out of college, but it’s reality.
My income is moderate, but the price for a one bedroom is certainly not! Even with the amenities!
Thumbs down on the new site format.
Gotta agree with you on this. The site loads even slower than the previous iteration and is visually cluttered. I know website redesigns take time to get used to but this is an awful layout. Sorry Christian, it’s just not very good.
I thought that to. Although I do like being able to give everything the thumbs down.
I agree. At least the facebook page is still user friendly!
3bdrms for $700? Why work your azz off, the less you make you better deals you get! In this country it used to be that you work hard to move yourself and your family ahead. Not NO more!! Man, this is a windfall for a lucky 186 families.
This conspiracy goes ALL the way to the top!