HUDSON SQUARE — Do you make $36,300 a year? You could live in a studio in a luxury building that's steps from SoHo for just $833 a month.
The area's newest affordable housing is coming by way of 70 Charlton St., a 22-story residential building by developer Extell. It was the first new construction to break ground in Hudson Square since the neighborhood was rezoned to be mixed-use in 2013, and is its first affordable housing project.
The affordable units comprise a little more than 20 percent of the building, and are situated throughout, mixed in with the luxury units, thanks to the local community board, which lobbied to make sure the development would not have a "poor door."
Of the 121 total units, 92 are market-rate co-ops and 29 are city-regulated, permanently affordable apartments. The housing is split among two wings, connected by an enclosed breezeway overlooking a courtyard.
Interested and eligible New Yorkers can apply for one of the 29 units through the Department of Housing Preservation and Development's Housing Connect website from May 18 through July 20.
The apartments are all A or B units and are scattered across every floor. Fifty percent are set aside for residents of Community Board 2, five percent for city employees, five percent for mobility-disabled applicants and 2 percent for vision- or hearing-disabled applicants.
The units are available to people who make 60 percent of the area median income, or AMI. AMI does not take into consideration whether the multi-person household has two income-earning adults or a single parent.
The seven affordable studios at 70 Charlton are approximately 532 square feet and $833 per month. They are open to people who wish to live alone and earn between $29,898 and $38,100 per year.
The two one-bedrooms are 727 square feet and $895, and the 20 two-bedroom apartments range in size from 1,326 to 1,503 square feet and are $1,082 per month.
The two one-bedrooms are available either to a single person making between $32,058 and $38,100 or two people making a total annual salary ranging from $32,058 to $43,500.
The three-bedroom apartments can be occupied by families of two, three or four people. The minimum salary for any family is $38,503, and the maximum is $43,500 for a family of two, $48,960 for a family of three and $54,360 for a family of four.
The building "topped out" last November, marking a major milestone both for the development and for the neighborhood. More than 600 people had signed on to a waiting list for the luxury units at that point, even though none were even near completion.
The affordable units were developed under the city's long-standing Voluntary Inclusionary Housing program, and make the luxury owners' taxes extremely low for the first 12 or so years.
According to city documents, the building is expected to be complete in fall of this year.