Affordable Apartment Watch: Stuy Town & Peter Cooper Village

Photo by Alec Jordan; cropped by Beyond My Ken (talk)/Wikimedia Commons.

Photo by Alec Jordan; cropped by Beyond My Ken (talk)/Wikimedia Commons.

A lottery opened today for rent stabilized apartments at Stuyvesant Town and Peter Cooper Village. It’s a result of a deal between the city and Blackstone, the housing development’s new owner, to preserve 5,000 units for affordable housing.

As apartments become available, applicants will be drawn from the wait list. Applications need to be in by March 31. The wait list will contain 15,000 names.

There are specific eligibility requirements. Several examples were offered in the application materials. In one case, a one-bedroom apartment costing $1296/month would be available to couples earning a household annual income between $38,880-$55,280. In the other example, a one-bedroom running $2,673/month would be set aside for couples earning a household income of between $80,190-$114,015. These income-range samples are based on 2015 AMI (Area Median Income).

For more application info, click here.