New housing lottery opens near Yankee Stadium, but some say it’s not affordable
The building’s renderings show lots of luxury amenities, and eligible renters are required to make just under $63,000 in order to qualify.
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6ds agoA new affordable housing lottery is now open near Yankee Stadium, but some housing advocates aren’t sure that it’s truly affordable for the market.
The new rental development, Bronx Vibe, is on 161st Street, bringing 47 rent-stabilized apartments to the community via lottery.
The building’s renderings show lots of luxury amenities, and eligible renters are required to make just under $63,000 in order to qualify.
Rent starts at $1,718 for a studio apartment. One half of the apartments are being set aside for applicants who already call the Concourse Village neighborhood home. However, housing advocates say the qualifications don’t meet what the people in the neighborhood have.
“The area median income of that… is actually $32,000, so it’s below the Bronx median,” said Jonathan Soto, of the Housing Justice for All Coalition. “Without proper affordability, we are creating affordable housing programs that are Trojan Horses for gentrification and that is a concern that not only I have but many of our colleagues have as it relates to these affordable housing lotteries.”
The building is being built through the Inclusionary Housing Program that’s designed to bring more affordable housing in areas that can receive new developments. The lottery is open until May 28.
