The Real Deal New York

City to put out more RFPs for micro-apartments

April 05, 2013 08:30AM

The city will be putting out more requests for proposals for micro-apartment sites, the New York Observer reported. “We are considering RFPs for two or three micro-unit developments later this year,” a Department of Housing Preservation and Development spokesman told The Observer after a lunch hosted by the Citizens Housing Planning Council Thursday.“We’re in the process of vetting a number of city-owned sites, and RFP guidelines will be tailored to the chosen sites.” 

The announcement comes a few months after Monadnock Development, Actors Fund Housing Development Corporation and nARCHITECTS won the city’s adAPT NYC contest and were selected to build micro-apartments at a city-owned site in Kips Bay. The 10-story complex, located at 335 East 27th Street, will feature 55 apartments – 40 percent of them affordable — ranging in size from 250 to 370 square feet.

Real estate insiders have been asking whether developing micro-apartments is financially feasible, as The Real Deal previously reported. [NYO]Hiten Samtani