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Finding an affordable apartment in New York can feel like winning the lottery (sometimes literally), so here\u2019s some news worth knowing about. <\/p>\n
The state is putting $872 million toward more than 2,200 affordable homes, and a good chunk of them are right here in the five boroughs.<\/p>\n
Governor Kathy Hochul announced the awards on October 30<\/a>, spreading the money across 12 developments from Queens to Syracuse. <\/p>\n Some are brand-new buildings, while others are older complexes getting long-overdue repairs so the people living there can stay put. <\/p>\n With private funding and other resources added in, the projects are expected to bring in more than $1.5 billion in total investment.<\/p>\n So where are they and when you can expect, you might ask? Here are all the details. <\/p>\n More than 2,200 affordable homes across New York!<\/p>\n Today, @GovKathyHochul<\/a> announced $872M in housing financing will create and preserve affordable, supportive and sustainable homes in communities statewide.<\/p>\n More homes. More opportunities. A more affordable New York!\u2026<\/p>\n \u2014 NYS HCR (@NYSHCR) October 30, 2026<\/a><\/p>\n The NYC projects to know<\/p>\n Five of the 12 developments are in the city, adding up to roughly $289 million:<\/p>\n ICL-Variety Residences, Astoria: 165 new apartments, including 71 set aside as supportive homes for young people aging out of foster care ($103 million).<\/p>\n Findlay House, the Bronx: a Mitchell-Lama building for seniors getting a full rehab of its 227 apartments, plus 12 brand-new ones ($98.6 million).<\/p>\n Bridge Inwood, Manhattan: a new 14-story building with 190 apartments, 121 of them supportive homes ($70.3 million).<\/p>\n Concourse Village, the Bronx: structural repairs at a six-building Mitchell-Lama co-op that\u2019s home to more than 5,000 residents ($14.2 million).<\/p>\n Franklin Lafayette, Brooklyn: four buildings with 57 apartments preserved as affordable housing ($3 million).<\/p>\n Who these homes are for<\/p>\n Affordability here is based on area median income, or AMI, the yardstick used for most affordable housing in New York. <\/p>\n The Inwood and Bronx senior projects are aimed at households earning up to 60% of AMI, while Astoria goes up to 80% and the Brooklyn buildings up to 100%.<\/p>\n There\u2019s a strong focus on New Yorkers who need a little extra support, too. <\/p>\n Beyond the foster care homes in Astoria, Findlay House is reserving 25 apartments for residents who\u2019ll get on-site services through the state Office for People With Developmental Disabilities.<\/p>\n \u201cMaking New York more affordable means building more homes and preserving the housing our communities already depend on,\u201d Hochul said.<\/p>\n Beyond the city<\/p>\n The rest of the money heads north. Highlights include:<\/p>\n A historic convent in Syracuse being turned into 155 apartments for older adults.<\/p>\n 296 mixed-income homes next to a Metro-North station in North White Plains.<\/p>\n A Tarrytown public housing complex being rebuilt with 90 new apartments, where current residents can move back in regardless of income.<\/p>\n All of the developments also have to meet strict sustainability standards, which should mean more energy-efficient buildings and lower utility costs for residents.<\/p>\n The awards are part of the state\u2019s five-year, $25 billion plan to create or preserve 100,000 affordable homes. Nearly 90,000 have been created or preserved so far.<\/p>\n How to actually get one<\/p>\n The announcement doesn\u2019t say when these apartments will be ready or how to apply. <\/p>\n New affordable rentals in the city are usually filled through NYC Housing Connect<\/a>, so that\u2019s the place to keep an eye on. <\/p>\n In the meantime, there are lotteries open right now, like this one in the Bronx with apartments from $732 a month<\/a>.<\/p>\n Don\u2019t miss out! Follow us on Facebook<\/a>, Instagram<\/a>, and now on WhatsApp<\/a>, too!<\/p>\n \t\t\t\t