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$833 Studio Apartments Up for Grabs in Gowanus Affordable Housing Lottery

By Leslie Albrecht | March 20, 2017 4:30pm | Updated on March 21, 2017 5:16pm
 365 Bond (left) and 363 Bond (right) on the banks of the Gowanus Canal in March 2016.
365 Bond (left) and 363 Bond (right) on the banks of the Gowanus Canal in March 2016.
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DNAinfo/Leslie Albrecht

GOWANUS — Renters can soon live in the Venice of Brooklyn for less than $1,000 a month.

Fifty-four "affordable" apartments overlooking the Gowanus Canal are up for grabs in a housing lottery that opened Monday. Applicants have until May 19 to apply for the apartments.

To qualify for the lottery, applicants must meet income guidelines. In this case, they can make up to 60 percent of area median income, which varies depending on household size.


The units are inside the 12-story 363 Bond St., which is right next door to 365 Bond St., the first residential development to open on the banks of the polluted canal, which is a Superfund site. More than 56,000 people applied for the 86 affordable units at 365 Bond.

The lottery for 363 Bond will hand out the following apartments at the following income limits:

► 20 studios for $833 a month for single renters making $29,897 to $38,100 a year.

► 23 one-bedrooms for $895 a month for single renters making $32,057 to $38,100 or couples making $32,057 to $43,500 a year.

► 11 two-bedrooms for $1,082 a month for couples making $38,503 to $43,500, households of three making $38,503 to $48,960, or households of four making $38,503 to $54,360.

Preference for some of the units will be given to applicants who live in Community District 6, which includes Red Hook, Park Slope, Carroll Gardens and Cobble Hill.

Free amenities at 363 Bond include a 24-hour attended lobby, outdoor gardens, an on-site resident manager, GE appliances, in-unit Bosch washer and dryer, a gym, yoga room and kids room. For an extra fee, renters can get access to an outdoor deck, barbecue grills, a swimming pool, a resident lounge, bike storage and shuffle board.

Gowanus was one of the city's most expensive neighborhoods for home buyers in 2016, with a median home price of $1,213,000, according to PropertyShark.

The developer that built 365 Bond, Lightstone Group, was originally going to build the neighboring 363 Bond St., but sold the project for $75 million in 2015 to Atlantic Realty Development Corp.

Atlantic Realty will receive the 421-a tax break for building the affordable units.

RELATED: Gowanus Affordable Housing Development Still Years Away as Home Prices Soar