Hunter’s Point South lotto draws 25,000 applicants in first week
Results show high demand for affordable housing in Long Island City
The affordable housing lottery for Hunter’s Point South has drawn roughly 25,000 applications during its first week.
Hunter’s Point South, a two-tower development in Long Island City will house some 925 low- and moderate-income families. The results of the lottery, which was launched on October 15, reveal that the development doesn’t come close to accommodating the demand for affordable housing in the area.
Hunter’s Point South, which is being developed by the Related Companies, Phipps Houses and Monadnock Construction, spans 30 acres. Below-market-rate units start as low as $494 per month for single residents making between $18,618 and $23,520 annually.
The site, which is 50 percent complete, was designed by SHoP Architects, the same firm that conceived Two Trees’ Domino Sugar Factory development in Williamsburg. There, non-market rate apartments will start at $553, with the housing lottery slated to start in 2016. [NYO] —TRD