Gowanus affordable housing lottery launches with apartments from $833

For the more than 56,00 people who applied—and were not chosen—to live in the 86 affordable apartments of 365 Bond Street: a speck of hope. The affordable lottery for the Gowanus Canal-fronting development’s second building at 363 Bond Street is now open, offering 54 studios to two-bedrooms priced from $833/month (h/t 6sqft).

The building at 363 Bond Street was developed by the Lightstone Group but sold to Atlantic Realty for $75 million in late 2015. The sale, however, did not change much. Like its neighbor at 365 Bond Street, tenants will have access to a whole host of amenities like a waterfront esplanade and interior courtyard. For a fee—for affordable and market-rate tenants alike—residents also gain access to amenities that include barbecue grills, a swimming pool, a deck, and bike storage.

The 54 apartments of 363 Bond available through the lottery include 20 studios renting for $833/month, 23 one-bedrooms for $895/month, and 11 two-bedrooms for $1,082/month. The lottery is open to those making 60 percent of area median income (AMI), or between $29,897 and $54,360 depending on the apartment size and number of residents.

The 268 market-rate apartments of 363 Bond have yet to rent, but they’ll probably mirror the pricing of apartments at 365 Bond, where studios start around $2,000/month. Apartments that are currently available at 365 Bond range from a studio seeking $2,363/month to a townhouse-style apartment seeking $6,457/month.

The lottery for 363 Bond will be open through May 19.

• 363 Bond Street affordable housing lottery [Housing Connect]
• ‘Paris-on-the-Gowanus’ rental launches affordable housing lottery, units from $833/month [6sqft]
• Over 56,000 People Apply To Live On Fetid Gowanus Canal [Curbed]
• Lightstone's Gowanus-Grazing Apartments Open to Renters [Curbed]
• Along the Gowanus Canal, a Rental Building Reshapes an Industrial Area [Curbed]
• More 363-365 Bond Street coverage [Curbed]