New $125M affordable housing development coming to Hells Kitchen
New York City is facing an affordable housing crisis, but change appears to be on the way.
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New York City is facing an affordable housing crisis, but change appears to be on the way. Rialto West is a $125 million affordable multifamily development rising in Hell’s Kitchen.
“This project will bring much-needed affordable housing to the community, serving a range of income levels - including low- and moderate-income households,” Daniel Arnow, of the Actors Fund Housing Development Corporation, a subsidiary of the Entertainment Community Fund, told News 12.
The building will have more than 150 units. Eligible incomes will range from $38,000 to $196,000 for a family of four, although that range will likely change when the building opens in two years. The building will also have more than 5,500 square feet of community facility space to bring affordable workspaces to the arts community. Developers say the name “Rialto” refers to a theatre district of a city.
“We know that a lot of artists have been displaced from New York City, displaced from this community...so we’re excited to be providing affordable workspace for artists as part of Rialto West,” Arnow added.
The development will also have a 25,000-square-foot pedestrian plaza named after famed playwright Lorraine Hansberry. Building in New York City is complicated, but Rialto West had one extra hurdle.
“This project is complex in that we’re building over an active Amtrak [railroad]. The Empire line runs along this stretch and we’re building an overbuild, a platform basically that will serve as the foundation for our building and then 8 stories over that,” JaVonna James of Douglaston Development said.
The lottery for Rialto West will open next year since it’s still under construction. In the meantime, you can apply for other New York City lottery buildings at www.housingconnect.nyc.gov.
