Housing Lottery Launches for 656 East 176th Street in East Tremont, The Bronx

 

The affordable housing lottery has launched for Belmont Cove, an 11-story residential building at 656 East 176th Street in East Tremont, The Bronx. Designed by Danois Architects and developed by Mastermind, the structure yields 153 residences. Available on NYC Housing Connect are 129 units for residents at 30 to 70 percent of the area median income (AMI), ranging in eligible income from $18,480 to $134,820.

Amenities include an elevator, shared laundry room, playground, recreation room, storage, and an outdoor terrace. All units are equipped with large windows, heating and cooling, and white appliances. Tenants are responsible for electricity.

At 30 percent of the AMI, there are two studios with a monthly rent of $465 for incomes ranging from $18,480 to $37,290; eight one-bedrooms with a monthly rent of $591 for incomes ranging from $23,143 to $41,940; five two-bedrooms with a monthly rent of $700 for incomes ranging from $27,738 to $50,310; and one three-bedroom with a monthly rent of $800 for incomes ranging from $32,023 to $57,780.

At 50 percent of the AMI, there are four studios with a monthly rent of $921 for incomes ranging from $34,115 to $62,150; 20 one-bedrooms with a monthly rent of $1,159 for incomes ranging from $42,618 to $69,900; 12 two-bedrooms with a monthly rent of $1,383 for incomes ranging from $51,155 to $83,850; and two three-bedrooms with a monthly rent of $1,589 for incomes ranging from $59,075 to $96,300.

At 70 percent of the AMI, there are four studios with a monthly rent of $1,345 for incomes ranging from $48,652 to $87,010; 41 one-bedrooms with a monthly rent of $1,689 for incomes ranging from $60,789 to $97,860; 20 two-bedrooms with a monthly rent of $2,018 for incomes ranging from $72,926 to $117,390; and ten three-bedrooms with a monthly rent of $2,323 for incomes ranging from $84,240 to $134,820.

Prospective renters must meet income and household size requirements to apply for these apartments. Applications must be postmarked or submitted online no later than October 21, 2024.