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HDC Press Releases
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APPLICATIONS AVAILABLE FOR
AFFORDABLE HOUSING IN THE BRONX
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Two Newly Constructed Affordable Housing Developments To Open
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March 9, 2005
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The New York City Housing Development Corporation (HDC) announces that applications are now available for two newly constructed affordable housing developments located at 1001 University Avenue, and 760 Melrose Avenue, in the Bronx. These two housing opportunities were financed by HDC as part of Mayor Bloomberg's housing initiative The New Housing Marketplace: Creating Housing for the Next Generation.
The development located at 1001 University Avenue is owned by University Avenue Associates, L.P., an entity formed by the principals of the Atlantic Development Corporation. For the studio apartments, the minimum monthly rent is $563 and the minimum annual household income is $22,520. For the one-bedroom apartments, the minimum monthly rent is $601 and the minimum annual household income is $24,040. For the two-bedroom apartments the minimum monthly rent is $723 and the minimum annual household income is $28,920. For the three-bedroom apartments the monthly rent is $838 and the minimum annual household income is $33,520.
To request an application for one of the below-market-rate units, please send a letter and a self addressed envelope by regular mail to:
University Avenue Associates, L.P.
976 McLean Avenue
P.O. Box 169
Yonkers, NY 10704
HDC does not rent the apartments; all applications must be requested to the contact information above.
Completed applications must be postmarked no later than April 22, 2005. Applicants will be required to meet income and other selection criteria. Applicants will be selected through a lottery system.
Click here to see advertisement.
Applications are also available for 110 newly constructed apartments in the Melrose area of the Bronx. The development located at 760 Melrose Avenue and East 156th Street received financing through HDC's low-income LAMP program and is owned by Palacio Associates LLC, an entity formed by the principals of L & M Equity Participants, Ltd. and We Stay-Nos Quedamos. For the one-bedroom apartments, the minimum monthly rent is $542 and the minimum annual household income is $18,583. For the two-bedroom apartments the minimum monthly rent is $652 and the minimum annual household income is $22,355. For the three-bedroom apartments the monthly rent is $920 and the minimum annual household income is $31,543.
To request an application for one of the below-market-rate units, please send a letter and a self addressed envelope by regular mail to:
Palacio Associates LLC
PO Box 524458
Bronx, NY 10452
HDC does not rent the apartments; all applications must be requested to the contact information above.
Completed applications must be postmarked no later than April 8, 2005. Applicants will be required to meet income and other selection criteria. Applicants will be selected through a lottery system.
Click here to see advertisement.
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