pr_07-07-2016

HPD COMMISSIONER BEEN AND HDC PRESIDENT RODNEY ANNOUNCE HOUSING LOTTERY OPENED FOR APPLICATIONS FOR MORE THAN 250 AFFORDABLE APARTMENTS IN EAST NEW YORK

The lottery for Gateway Elton Phase III low income development is affordable to individuals earning as little as about $18,300, families of three earning 48,960
 

New York, NY – The New York City Department of Housing Preservation and Development Commissioner Vicki Been and New York City Housing Development Corporation President Gary Rodney today announced the opening of the Housing Connect lottery for 259 affordable apartments in the Gateway Elton development. The homes are located at 1062 Elton Street and 475 Locke Street in the Spring Creek section of East New York in Brooklyn.

The rents range from a low of $494 a month for a studio to $1,322 a month for a four-bedroom apartment.

Gateway Elton III offers residential apartments in two newly-constructed 100% affordable, energy efficient buildings. The six- and eight-story buildings offer ground-floor retail space, including for retail and community space, indoor parking, a bike room, child care and fitness centers, and a Wi-Fi lounge.

HPD Commissioner Vicki Been said, "The Gateway Elton development is a wonderful project and an example of the kind of affordable housing developments we are building across New York City. It’s an amazing opportunity for regular New Yorkers to apply for high-quality new homes with rents to match their budgets”

“The Gateway Elton Development is another example of our commitment to financing programs that create quality affordable homes in every neighborhood,” said Gary Rodney, President of HDC. “We are pleased to announce the application lottery for this exciting opportunity, and we encourage everyone to view all our current listings of housing opportunities across the city. We will continue to make New York more affordable, one home at a time.”

"It is critical that we advance meaningful affordability in Brooklyn so that our borough can remain a place able to be home to everyone from everywhere, especially longtime Brooklynites who built the foundation of our success. We are proving that anything is possible in East New York, constructing a new thriving community that will be a gateway to possibility for hundreds of families,” said Brooklyn Borough President Eric L. Adams. “I am proud to have allocated capital funding to this important project."

City Council Member Inez Barron said, “I am pleased to join in the announcement regarding the opening of the lottery for 259 apartments in my district, in the East New York Gateway section of Brooklyn. These apartments are affordable for the majority of the people living in East New York, who earn between $18,300 to $48,960. This is an effective solution to the housing crisis we face. This announcement brings to fruition the collaborative efforts of the former Council Member Charles Barron, members of the East Brooklyn Congregations, community based organizations, city agencies and my office. Not only has once vacant, unsightly land been transformed into attractive living quarters, including private homes and apartment dwellings, but an entire community has been created with already over 1500 new permanent jobs, new small business offerings,  a new school, shopping centers and retail locations. We look forward to the completion of the parks that are in the plans.”

More information about available apartments and instructions for how to apply can be found here.  The deadline for applying is September 2. Tenants can expect to start moving into their new homes by late 2016. To view other current affordable housing lotteries please click here

These apartments, which make up the final and third phase of the Gateway Elton project was developed by Hudson Companies, Related Companies, and CAMBA/CAMBA Housing Ventures. The Gateway Elton project has created a total of 659 affordable apartments and 711,855-square-feet of new retail space, at the above addresses and at 1149, 1152, 1165 and 1166 Elton Street and 516 and 526 Vandalia Avenue and 526 Schroeders Avenue.

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About the New York City Department of Housing Preservation and Development (HPD):

HPD is the nation’s largest municipal housing preservation and development agency. Its mission is to promote quality housing and diverse, thriving neighborhoods for New Yorkers through loan and development programs for new affordable housing, preservation of the affordability of the existing housing stock, enforcement of housing quality standards, and educational programs for tenants and building owners. HPD is tasked with fulfilling Mayor de Blasio’s Housing New York: A Five-Borough Ten-Year Plan to create and preserve 200,000 affordable units for New Yorkers at the very lowest incomes to those in the middle class. For more information visit www.nyc.gov/hpd and for regular updates on HPD news and services, connect with us via www.facebook.com/nychousing and @nychousing.

About the New York City Housing Development Corporation (HDC)

HDC is the nation's largest municipal Housing Finance Agency and is charged with helping to finance the creation or preservation of affordable housing under Mayor Bill de Blasio's Housing New York plan.  Since 2003, HDC has financed more than 120,000 housing units using over $13.7 billion in bonds, and provided in excess of $1.6 billion in subsidy from corporate reserves.  HDC ranks among the nation's top issuers of mortgage revenue bonds for affordable multi-family housing on Thomson Reuter's annual list of multi-family bond issuers.  In each of the last four consecutive years, HDC's annual bond issuance has surpassed $1 billion.  For additional information, visit: www.nychdc.com.