From rent hikes to new buildings, affordable housing is always at the top of mind for New Yorkers, especially in The Bronx. But how affordable is affordable? News 12’s Noëlle Lilley is looking into a proposal for a new building in Highbridge.

At a City Planning Commission review session on Monday, the Department of Housing Preservation and Development (HPD) presented a project to transform 1093-1095 Jerome Avenue into an 11-story mixed-use residence with recreation spaces, a green roof, and units for seniors. The building will be serving individuals and families earning up to around 80% AMI as well as formerly homeless New Yorkers.

AMI is defined by the U.S. Department of Housing and Urban Development (HUD) as Area Median Income. For a three-person family in NYC last year the AMI was $139,800, according to HUD. So, to qualify for this building, a family of three would need up to 80% or less of that number. Therefore, the HUD calculator states 80% of the NYC AMI would be $111,840.

At the review session, City Planning Commissioner Leah Goodridge pointed out that if set at 80% AMI, studio apartments at the proposed building could cost as much as $2,000 a month. Bronx residents that spoke to News 12 in Highbridge stated that many of the affordable housing buildings that come to the borough are too expensive for locals to afford.

In its monthly market report, MNS Real Estate reported the average rent in The Bronx overall was $2,474 in November of 2024. Just two years prior it was $2,253 in 2022. Specifically for a studio in November 2024, MNS reported the average studio in Highbridge cost about $ $1,781. The federal government defines affordable housing as housing that costs about one-third or less of what the people living there earn.

HPD told News 12 in a statement, “This project is an important step toward building more affordable housing and creating homes for people who need them most. We know 80% AMI doesn’t always feel affordable—especially in a city as expensive as ours— this is a step towards a more affordable Bronx, offering stability for individuals, families, seniors, and formerly homeless New Yorkers.”

The agency also adds that 80% AMI is the max for the potential new homes, and that there are cheaper options available for families. For example, HPD states 11 studio units will be priced at a range of $543 to $1,709.

For now, the project still needs approval from City Planning. HPD sources say if approved, interested applicants can apply through the city's housing lottery, Housing Connect.