Housing Lottery Launches For Peninsula Building 1B In Hunts Point, The Bronx

 

The Peninsula aerial view, design by WXY Architecture + Urban Design

The affordable housing lottery has launched for Peninsula Building 1B, a 14-story mixed-use building at 720 Tiffany Street in Hunts Point, The Bronx. Designed by WXY Architecture + Urban Design and developed by the New York City Economic Development Corporation, the structure is the first of four new developments bringing 740 affordable units to the area. Available on NYC Housing Connect are 164 units for residents at 30 to 80 percent of the area median income (AMI), ranging in eligible income from $15,772 to $118,400.

Residents will have access to a wide range of amenities including an indoor community room with kitchenette, bike storage room, children’s playroom, shared laundry room, gym, and outdoor terrace. Rent includes heat and hot water, with tenants responsible for electricity.

At 30 percent of the AMI, there are 18 units with a monthly rent ranging from $396 to $683 for incomes ranging from $15,772 to $44,400. At 40 percent of the AMI, there are 18 units with a monthly rent ranging from $549 to $949 for incomes ranging from $21,018 to $59,200. At 50 percent of the AMI, there are 18 units with a monthly rent ranging from $720 to $1,244 for incomes ranging from $26,880 to $74,000. At 60 percent of the AMI, there are 74 units with a monthly rent ranging from $908 to $1,570 for incomes ranging from $33,326 to $88,800. At 80 percent of the AMI, there are 36 units with a monthly rent ranging from $1,232 to $2,131 for incomes ranging from $44,435 to $118,400.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than February 21, 2022.