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Affordable Housing Lottery Opens for Hundreds of Units in Residential Tower on LIC Waterfront

Rendering of Gotham Point South Tower (left) and North Tower (right) (Courtesy of VUW)

July 29, 2022 By Michael Dorgan

A housing lottery has opened for 463 units in a new high-rise development on the Long Island City waterfront.

The city is accepting applications for units in the mixed-use, two-tower development known as Gotham Point. The waterfront towers have commanding views of Manhattan.

The development is currently under construction and is being built through a partnership between development company Gotham and the nonprofit RiseBoro Community Partnership.

The apartments that are up for grabs are located in the taller of the two towers, known as the North Tower, which is 56-stories tall and located at 1-15 57th Ave.

The North Tower is anticipated to be completed later this year. Work on the 33-story second tower, known as the South Tower, has been completed and tenants began moving into the building in April.

When fully completed, the two buildings will include a total of 1,132 units — of which 75 percent, or 847 apartments, will have been offered through the city’s housing lottery.

The housing lottery is now open for apartments in the North Tower with 463 affordable units available.

The apartments that are part of the lottery — a range of studio, one-bedroom, two-bedroom and three-bedroom units — are available to households of one to seven people who earn 30, 50, 80, 125 or 165 percent of the area median income (AMI).

All residents will have access to a state-of-the-art fitness studio, 24/7-attended lobby, dedicated co-working lounges, a rooftop terrace, bike storage, children’s playroom, dog spa and more. Additional fees apply for some amenities.

The units feature open layouts, plank flooring, quartz countertops, stainless steel appliances, a gas range and a dishwasher.

A rendering of the lobby area inside the development (Photo via NYC Housing Connect)

There are 136 studio apartments, 167 one-bedroom units, 139 two-bedroom units and 21 three-bedroom units available in the North Tower of Gotham Point through the lottery.

While the apartments start as low as $397 a month—which have been set aside for people who earn 30 percent of the AMI—the majority of the units listed in the lottery are for people who earn between 125 and 165 percent of the AMI and cost significantly more.

Only 15 studio apartments are available for $397 a month and they are for people who earn between $16,183 and $28,020 per year—or 30 percent AMI. There are 20 studios available that rent for $738 per month and they are for people who make 50 percent of the AMI, while 10 are available at $1,250 per month for people who make 80 percent of the AMI.

There are 41 studios listed at $1,643 a month and 50 listed at $2,070 a month for people who make 125 percent AMI and 165 percent AMI respectively.

The lottery also has 24 one-bedroom apartments available for $503 a month and they are for those who earn 30 percent AMI. There are also 23 one-bedroom units available for $930 a month to households that earn 50 percent AMI.

There are 12 one-bedroom units listed at $1,570 a month; 48 at $2,060 a month and 60 at $2,593 a month.

There are 10 two-bedroom apartments that are available at $598 per month but they have been set aside for the those earning 30 percent AMI. There are 21 listed for $1,110 a month; 11 for $1,878 a month; 43 for $2,467 a month and 54 for $3,107 a month.

Lastly, there are two, three-bedroom apartments at $683 per month for people who make 30 percent of the AMI. The units reach up to $3,580 in monthly rent for those who make 165 percent of the AMI.

Rendering of a unit inside senior the Gotham Point development (Photo via NYC Housing Connect)

Residents of Queens Community District 2 are given preference for half of the apartments in the lottery.

To see a full breakdown of the income requirements and available units, and to apply to the housing lottery, visit the housing connect website. Those interested must submit their application by Sep. 28 to meet the deadline.

The North Tower will house 689 total units and include an 11-story specialty wing with senior housing. It will include 98 senior independent living units which will be managed by the nonprofit RiseBoro Community Partnership.

The North Tower will also feature ground-floor retail space, a car garage and a publicly accessible urban farm on its rooftop.

The South Tower, which has 443 units total, includes a publicly accessible community boathouse and kayak launch as well as a ground-floor studio and headquarters for the nonprofit arts organization, Flux Factory, to support emerging artists with its artists-in-residency program.

The housing lottery for the South Tower closed in December.

The North Tower (R) is anticipated to be completed later this year. (Photo: Michael Dorgan taken July 28, 2022)

The waterfront towers have commanding views of Manhattan (Photo via NYC Housing Connect)

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