Housing Lottery Opens For 98 Below-Market Apartments at Essex Crossing’s 115 Delancey St.
The city today opened a housing lottery for 98 rental apartments at 115 Delancey St., part of the big Essex Crossing project.
The below-market units are available to people earning 40%, 60%, 120% and 165% of Area Median Income (AMI). The largest block of apartments, 47 units, is reserved for households earning annual incomes from $30,069 to $66.420. Rents for these apartments will range from $822 to $1,224 per month. The units at 115 Delancey St. start at $519 and go up to $3,424. There are six apartments in the lowest income category (reserved for families earning annual incomes as low as $19,000.
The building, located on Site 2 of the former Seward Park Urban Renewal Area, topped out at 26 stories in October. Half of the apartments are below-market — half will be market rate. 115 Delancey also includes a new home for the Essex Street Market, part of the Market Line underground retail complex and a 14-screen Regal Cinema. Isaac Henderson, project manager, said, “This announcement is particularly exciting because 115 Delancey in many ways is our centerpiece. This marks a critical milestone for the larger project, and we’re looking forward to starting our next phase of construction and bringing even more affordable units online.”
Four buildings are part of the first phase of Essex Crossing. Affordable housing lotteries have already taken place (or are taking place) for the other buildings. Essex Crossing includes 1,079 apartments, 561 of them affordable to low- and middle-income residents.
Residents of Community District 3 have priority status for 50% of the affordable units. Former Seward Park site tenants have an additional preference. The application deadline is Feb. 13, 2018.