"But wait - what is Housing Connect? For the uninitiated, New York City Housing Connect is an online platform that aims to provide New Yorkers with opportunities for affordable prices on apartments in new developments. The website, which launched in 2013 after years as a mail-based program, lists residential buildings across the five boroughs currently accepting applications for apartments, with both leasing and purchasing opportunities."
"However, there is a catch: Your total income and family size need to fit within a certain range to be eligible to apply to the housing lottery, and each lottery has different income restrictions, based on a measurement called Area Median Income, which you can calculate here. Oftentimes, real estate developers will set aside a certain number of affordable units in their blueprints to secure support and approval from city officials and community boards."
"The NYC Department of Housing and Preservation, which runs NYC Housing Connect, considers affordable housing to be apartments that cost one-third or less of what the people living there make in income. Also, there's usually a certain number of units in each lottery set aside for people with disabilities, workers employed by the city, or people already based in the community board district where the building is located."
Seven affordable housing lotteries on NYC Housing Connect expire in the next week, with four in Brooklyn, one in the Bronx, and two in Queens. NYC Housing Connect is an online platform that lists residential buildings across all five boroughs accepting applications for leasing and purchasing affordable apartments. Eligibility depends on total household income and family size relative to Area Median Income (AMI), with different lotteries using different income ranges. Developers often set aside affordable units to gain approvals. The NYC Department of Housing and Preservation defines affordable housing as costing one-third or less of household income. Some units are reserved for people with disabilities, city workers, or local residents. Applicants receive a log number and winners are chosen at random.
Read at Brooklyn, NY Patch
Unable to calculate read time
Collection
[
|
...
]