Lottery of affordable housing: apartments in Manhattan for $396

Lottery of affordable housing: apartments in Manhattan for $396

In new York to live fucking roads, and this fact, for anybody not a secret. The rent is constantly growing in neighborhoods across the city, despite the fact that conditions in some of them frankly leave much to be desired.

The citizens of new York remained only one hope – the affordable housing program. The draft city budget for the year 2018 provides for the allocation of funds for the provision of 10,000 affordable apartments that will participate in the housing lottery for next year.

This Friday will mark the deadline for the submission of applications for participation in one of the most acclaimed lottery in new York, the purpose of which is providing large amounts of housing in the new building from the Essex Crossing in the Lower East side.

The winners of the lottery will be able to rent an apartment in Manhattan just for $396 per month (and no, not a typo). What’s the catch? At least one of the persons nominating must be at least 55 years of age, and annual household income of participants in the lottery to exceed $21,750.

Lottery covers eight one-bedroom apartments for applicants from the Section 8, and six apartments for those whose income is 30% of the average for the district. Another 85 apartments with one bedroom are available at a price from $558 to $1,254 depending on the level of annual income of the candidates.

In the Lower East Side have long since acquired the reputation of a working district in Manhattan. But since real estate prices in Manhattan increased over the last 20 years, it could lose its status as a district with affordable housing. Therefore, the developer of the Essex Crossing, was forced to provide in their new building located at 175 Delancey Street, a sufficiently large number of available apartments to ensure that the authorities approved the project.