Affordable Housing Lottery Application Opens Today For 313 Unit Roosevelt Island Riverwalk Park Building Developed By Hudson Related - Studios, 1,2,3 Bedroom Apartments Available From $506 To $3432 Depending On Income Range And Household Size

The lottery application for Roosevelt Island's new affordable housing building developed by Hudson Related  at 460 Main Street, known as Riverwalk Park,

opens today thru July 6. Riverwalk Park will have 313 units including apartments ranging in size and price of:

• Studios $506 - $1,961
• 1 Bedroom,$648 - $2,468
• 2 Bedroom &$791 - $2,974
• 3 Bedroom $909 - $3,432

Image From Riverwalk Park

Rents and corresponding household income ranges are based on 40%, 50%, 80%, 130%, 165% Area Medium Income (AMI). The AMI for a family of 4 in New York City is $113,700. Eligible incomes for Roosevelt Island Riverwalk Park range from  $20,298 (1 person studio) to $232,650 (7 person 3 bedroom) depending on apartment and household size.

The total number of Riverwalk Park affordable housing units appeared to have decreased from 340 as originally proposed to 313 units. A Related representative explains the reason:

There are a total of 340 residential units in the building, but the building will have 27 units set-aside for formerly homeless households. Those 27 units will not be available via the lottery process, because the City keeps a list of formerly homeless households that will be the only households eligible for initial lease-up of those units.

Here's the breakdown of Riverwalk Park affordable housing units by size,price and household number.

Roosevelt Island Riverwalk Park Affordable Housing

According to Riverwalk Park:

Affordable Housing for Rent

RIVERWALK PARK

313 NEWLY CONSTRUCTED UNITS AT 460 MAIN STREET ROOSEVELT ISLAND, NEW YORK

Amenities: Attended lobby, on-site resident manager, fitness center*, riverfront terrace*, yoga studio*, children’s playroom*, party lounge*, teen lounge*, bike storage*, package kiosks* (*additional fees apply).

Transit: F Train, Tram, Ferry, Q102, RIOC Red Bus

No application fee • No broker’s fee • Smoke-free building • More information: www.liveriverwalkpark.com

This building is being constructed through the M2 Mixed-Middle-Income Program of the New York City Housing Development Corporation and the Inclusionary Housing Program of the New York City Department of Housing Preservation and Development.

Who Should Apply

Individuals or households who meet the income and household size requirements listed in the table below may apply. Qualified applicants will be required to meet additional selection criteria. Applicants who live in New York City receive a general preference for apartments.

A set-aside for a percentage of units goes to applicants with disabilities:

• Mobility (5%)
• Vision/Hearing (2%)

Preference for a percentage of units goes to:

• Residents of Manhattan Community Board 8 (50%) 
• Municipal employees (5%)

Roosevelt Island residents are in Community Board 8 which includes the Upper East Side of Manhattan. Attempts were made to give preference to Roosevelt Island residents separate from being members of Community Board 8 but that was not done.

The building is expected to open December 2020/January 2021.

Click here for more info on Riverwalk Park and here for the NYC Housing Connect lottery application.