Good Afternoon Neighbors,
This week, the New York City Council voted in favor of the 2560 Boston Road project rezoning. As New York City continues to navigate the growing housing crisis, we must identify opportunities that meet the needs of our communities, especially in the Bronx.
One of the top concerns regarding housing surrounds the affordability of units and their compatibility with the average median income (AMI). The project at Boston Road is no different, and I’m happy to share that the applicant team is committed to pursuing a 100% affordable HPD (Department of Housing Preservation and Development) term sheet. This means incomes are capped at 90% of AMI, with most units targeting incomes below the max threshold. By utilizing HPD’s Mix and Match program, families with incomes of all ranges can reside in this new complex.
To be clear - most units are below 90% of AMI, including 20% for households earning between $37-53K (which is 40% AMI), 25% for households earning between $47-67K, and 40% for households earning between $82-120K. That means that the average public school teacher in New York City, who earns $66,193 (salaries range between $55,275 to $80,721) and healthcare workers earn an average of $69,307 (salaries range between $51,193 to $76,902), and other occupations reflective of our community, would be able to afford these new units.
There is no evidence to show that a 100% affordable housing development will impact market rents in this neighborhood. In fact, an increase in available units would more likely lessen the demand and limit the rate of increased rents in the surrounding area. 50% of the units will be set aside for residents living within Bronx Community District 11, and recent census data show that the proposed income ranges in this building will be affordable to those within our community.
The growing need for housing in our community is a daily struggle for many, and I know the full board and the public are not against affordable housing. As a community, we must ensure our neighbors have access to safe, affordable housing that meets their unique needs. I look forward to working with the community as this project unfolds, bringing much-needed housing and commercial and community spaces to benefit everyone.
Thank you all for your contributions to this process and I look forward to seeing you around the district.
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