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<\/a>2305 BELMONT AVENUE in Belmont, The Bronx\u00a0Photo courtesy of NYC Housing Connect<\/p>\n
NYC Department of Housing, Preservation & Development (HPD) has launched a housing lottery described as affordable for units at 2305 Belmont Avenue, a 6-story, residential building in the Belmont section of the Bronx, as reported by YIMBY<\/a>.<\/p>\n \u00a0<\/p>\n Designed by Hany Demetry of Sotir Associates and developed by George Sarantis under the 2305 Belap LLC, the structure yields 12 residential units. Available on NYC Housing Connect<\/a>, HPD\u2019s online portal, are four units for residents earning 130 percent of the area median income (AMI), ranging in eligible income from $95,966 to $227,500.<\/p>\n \u00a0<\/p>\n Amenities include pet-friend policies and an elevator. Residential units are equipped with air conditioning, intercom, and energy-efficient appliances. Tenants are responsible for electricity including stove, hot water, and heat.<\/p>\n At 130 percent of the AMI, there are three one-bedroom units with a monthly rent of $2,525 for those on incomes ranging from $95,966 to $189,540, and one two-bedroom unit with a monthly rent of $3,000 for residents with incomes ranging from $117,360 to $227,500.<\/p>\n \u00a0<\/p>\n Prospective renters must meet income and household size requirements to apply, and applications must be postmarked or submitted online no later than Feb. 12.<\/p>\n This building is anticipated to receive a Tax Exemption through the 485-X Tax Incentive program of the New York City Department of Housing Preservation and Development. No deposits or application fees are required. More information can be found at https:\/\/housingconnect.nyc.gov\/PublicWeb\/<\/a>.<\/p>\n HPD officials say affordable housing is based on a household\u2019s percentage of\u00a0Area Median Income (AMI)<\/a>, which is set by the federal government on a yearly basis. Housing is considered affordable if it costs about one-third or less of household income, and is regulated so the rent can\u2019t go up dramatically over time.<\/p>\n They said in order to be eligible for affordable housing, residents must be 18 years old, and their household income needs to be in a specific range for each affordable housing opportunity. Applicants are required to meet additional guidelines, including\u00a0asset limits<\/a>, and\u00a0tenant selection criteria<\/a>\u00a0to qualify.<\/p>\n \u00a0<\/p>\n The AMI for all cities across the country is defined each year by the U.S. Department of Housing and Urban Development (HUD). The 2025 AMI for the New York City region is $145,800 for a three-person family (100% AMI). We have previously asked HUD to provide the AMI for the New York City region for a single person and have not received a clear response. We\u2019re following up with HUD and will share any further feedback we receive. For more background on this, click\u00a0here<\/a>.<\/p>\n Various graphs which show\u00a0Bronx demographics<\/a>\u00a0are attached, courtesy of New York City University (NYU)\u2019s\u00a0Furman Center.<\/a><\/p>\n \u00a0<\/p>\n According to the center, between 2019-2023, the largest share of studios had gross rents of between $1,000 and $1,500 (32%), the largest share of one-bedroom units had rents between $1,000 and $1,500 (33%), the largest share of two-bedroom units had rents between $1,500 and $2,000 (29%), the largest share of three bedroom units had rents between $1,500 and $2,000 (21%).<\/p>\n Affordable Housing Lottery Helpline: 212-863-7990 \u00a0<\/p>\n<\/a>2305 BELMONT AVENUE in Belmont, The Bronx\u00a0
Photo courtesy of NYC Housing Connect<\/p>\n<\/a>2305 BELMONT AVENUE in Belmont, The Bronx\u00a0
Photo courtesy of NYC Housing Connect<\/p>\n<\/a>2305 BELMONT AVENUE in Belmont, The Bronx\u00a0
Photo courtesy of NYC Housing Connect<\/p>\n<\/a>2305 BELMONT AVENUE in Belmont, The Bronx\u00a0
Photo courtesy of NYC Housing Connect<\/p>\n<\/a>HOUSEHOLD INCOME DISTRIBUTION in The Bronx (2024 $)
Source: NYU Furman Center<\/p>\n<\/a>POVERTY RATE IN The Bronx, 2023
Source: NYU Furman Center<\/p>\n
Email:\u00a0nychousingconnect@hpd.nyc.gov<\/a><\/p>\n