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
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.