Affordable Housing Lottery Launches For Bronx Point Phase 1 At 575 Exterior Street In The South Bronx

 

The affordable housing lottery has launched for Bronx Point Phase 1, a 22-story mixed-use building at 575 Exterior Street in the South Bronx. Designed by S9 Architecture and developed by L+M Development Partners, Type A Projects, and BronxWorks, the structure yields 542 residences, 56,000 square feet of community facility space, 12,000 square feet of retail space, and will serve as the home of the Universal Hip Hop Museum. Available on NYC Housing Connect are 432 units for residents at 30 to 120 percent of the area median income (AMI), ranging in eligible income from $18,515 to $198,600.

Amenities include a 24-hour attended lobby, elevator, bicycle storage, shared laundry room, gym, community center, children’s playroom, and outdoor terrace. There are also educational and community facilities available to residents, including the Universal Hip Hop Museum. Tenants are responsible for electricity.

At 30 percent of the AMI, there are 17 studios with a monthly rent of $465 for incomes ranging from $18,515 to $32,040; 32 one-bedrooms with a monthly rent of $591 for incomes ranging from $23,178 to $36,030; 16 two-bedrooms with a monthly rent of $700 for incomes ranging from $27,772 to $43,230; and 16 three-bedrooms with a monthly rent of $800 for incomes ranging from $32,092 to $49,650.

At 50 percent of the AMI, there are 21 studios with a monthly rent of $866 for incomes ranging from $32,263 to $53,400; 43 one-bedrooms with a monthly rent of $1,092 for incomes ranging from $40,355 to $60,050; 22 two-bedrooms with a monthly rent of $1,301 for incomes ranging from $48,378 to $72,050; and 22 three-bedrooms with a monthly rent of $1,494 for incomes ranging from $55,886 to $82,750.

At 80 percent of the AMI, there are 46 studios with a monthly rent of $1,466 for incomes ranging from $52,835 to $85,440; 50 one-bedrooms with a monthly rent of $1,842 for incomes ranging from $66,069 to $96,080; 33 two-bedrooms with a monthly rent of $2,201 for incomes ranging from $79,235 to $115,280; and 33 three-bedrooms with a monthly rent of $2,534 for incomes ranging from $91,543 to $132,400.

At 120 percent of the AMI, there are 25 one-bedrooms with a monthly rent of $2,166 for incomes ranging from $77,178 to $144,120; 36 two-bedrooms with a monthly rent of $2,892 for incomes ranging from $102,926 to $172,920; and 20 three-bedrooms with a monthly rent of $3,332 for incomes ranging from $118,903 to $198,600.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than June 30, 2023.