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Affordable Housing Units Coming to Upscale TriBeCa Building

By Irene Plagianos | August 11, 2015 6:26pm | Updated on August 11, 2015 7:53pm
 456/460 Washington will be home to 22 units of affordable housing when the building is slated to open, in early 2016.
456/460 Washington will be home to 22 units of affordable housing when the building is slated to open, in early 2016.
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DNAinfo/Irene Plagianos

TRIBECA — New affordable housing is on its way to TriBeCa.

The upscale building 460 Washington, which is still under construction, will offer 22 units of low-income housing in its 107-apartment, 10-story building.

Applications for the affordable units, which are being advertised with the address 456 Washington Street, will begin in the fall, a spokeswoman for Related, the building's owner said.

The property, slated to be finished in the first quarter of 2016, is an 80/20 project — a housing program that gives developers tax abatements when 20 percent of the building is set aside for affordable housing.

The new development will offer five studios, six one-bedroom apartments, and 11 two-bedroom apartments at affordable rates. To be eligible for these units, you have to make 60 percent of the area median income (AMI). According to the New York City Housing Development Corporation, that amounts to $36,300 for an individual, $41,460, for a family of two, $46,620 for three or $51,780 for a family of four.

Residents who live within the bounds of Manhattan's Community Board 1 will get preference for 50 percent of the apartments. Another five percent of the apartments will give preference to municipal employees. Applicants with mobility issues will also get preference for five percent of the units, and an additional two percent of the apartments will be set aside for people with hearing or visual impairments.

To be notified about when the marketing for the low-income housing begins, head to Related's affordable housing website — the property is being listed as Bridge Land West LLC. You'll be able to sign up for emails about the property, and learn about when the application process will begin.

Eventually, sometime this fall, the application for the lottery will be available through the Housing Connect website. Move-in should begin in spring of 2016.

Information about pricing for the market-rate apartments is still not available, the company said. According to the Real Deal, the apartment complex will be home to amenities including a roof garden, day-care facility, underground parking, party space and lounge area.