A new mixed-use development is gearing up to make its way to Queens. The affordable Edgemere Commons B1 will present the people of NYC with hundreds of residences along with retail and community facility spaces. 189 of its living units are rental units developed carefully for varied-income households.
Highlights
- Edgemere Commons B1 is a 15-story building that will offer residents of Queens around 200 residences.
- 189 rental units will be available for residents based on their area median income under brackets of 30%, 50%, 60%, and 80%.
- The final date of application for the affordable mixed-use development of NYC is June 30.
A New 15-story Mixed-Use Building to Open in Queens
Queens is all set to welcome a new, affordable mixed-use establishment at 5119 Beach Channel Drive in Far Rockaway. Edgemere Commons B1 is a 15-story building that features around 237 residences.
Developer Tishman Speyer’s TS Communities will be bringing 7,500 sq. ft. of community space and 8,000 sq. ft. of retail space as well. The affordable housing lottery has launched for the Queens-based establishment. Aufgang Architects will design the mixed-use development.
NYC had launched a housing lottery for 189 units at the project site to allow differently earning households to get a rental unit.
Pricing Requirements for Edgemere Commons B1
Through the Edgemere Commons B1 project, 189 units will be available for residents of Queens based on their area median income. 71 are kept separately for those making 50% of the AMI and having an asset limit of $77,650. 47 are for Queens residents with an asset limit of $93,180 and earning 60% of the AMI.
35 units are kept separate for households having an asset limit of $46,590 and making 30% of the AMI. 36 of them are meant for houses earning 80% of the AMI with an asset limit of $124,240.
Details of the Edgemere Commons Project
Developed through the Extremely Low and Low-Income Affordability (ELLA) Program of New York City Housing Development.
The new mixed-use project is a small component of New York City Housing Development’s umbrella Edgemere Commons initiative. The program for it is the Extremely Low and Low-Income Affordability (ELLA).
The Edgemere Commons initiative will bring up 11 buildings and 2,050 apartments. 237 units will be left separately for seniors.
Rental Units Based on AMI
Edgemere Commons B1 will offer different rental unit options for the people of Queens based on their AMI.
For households making 30% of the AMI in New York, the rental options under Edgemere Commons B1 are:
- Two studio units – These units will be offered to NYC families having up to two people whose collective annual income falls between $22,458 and $38,880. The monthly rent will be $544.
- Twenty-one one-bedroom units – Families having three people can try for these units. The combined annual income of the residents should be in the range of $27,978 to $43,740. The monthly rent will be $689.
- Eleven two-bedroom units – These units of the Edgemere Commons B1 project will be for NYC families having up to five people. Their annual earnings should be from $33,772 to $52,500. Monthly rent will go up to $815.
- One three-bedroom unit – These rental units will be offered to households with seven people, who make earnings between $39,189 and $60,270. The NYC families with this rent unit will have to pay $931 every month.
Aspiring homeowners in Queens with 50% AMI can receive the following rental options:
- Three studio units – Families of New York who have an annual income of $38,435 to $64,800 may try their luck for this unit through monthly rent payment of $1,010.
- Forty-three one-bedroom units – Those households making between $38,435 to $64,800 can stay in these units by paying a per-month rent amount of $1,010.
- Twenty-three two-bedroom units – Queens-based families, which bear a combined annual income of $57,738 to $87,500, can live in this rental unit by paying a monthly amount of $1,514.
- Two three-bedroom units – Homehunters in NYC who have a combined family income of $66,858 to $100,450 every year and can pay a $1,378 monthly rent can buy this unit.
Rental units under Edgemere Commons B1 for families making 60% AMI will be as follows:
- Two studio units – Renting for $1,243, these units will be given to one- or two-person households. Their earnings should be between $46,423 and $77,760 annually.
- Twenty-eight one-bedroom units – By paying a monthly rent amount of $1,563, people of Queens can get into these units. Plus, annually they should earn between $57,943 and $87,480.
- Fifteen two-bedroom units – Priced at $1,864 each month, these two-bedroom units are meant for households in Queens that make between $69,738 to $105,000.
- Two three-bedroom units – Edgemere Commons B1 will charge a rent of $2,142 monthly for families with an income range of $80,709 to $120,540.
Those households in Queens that make 80% AMI can receive the following units:
- Twenty-two one-bedroom units – By paying a monthly rent of $2,145, families can get this unit. However, the annual household earnings should be between $77,898 to $116,640.
- Thirteen two-bedroom units – With a $2,563 monthly rent condition, these units will be available for families earning from $93,703 to $140,000.
- One three-bedroom unit is available – Families making $108,378 to $160,720 annually can get this unit by paying a monthly amount of $2,949.
No studio units are available for the people of Queens under this category.
Amenities at Edgemere Commons B1
Edgemere Commons B1 will bring up a host of amenities for families in Queens, including are security cameras, package lockers, and assigned parking. There will also be an outdoor terrace, common-area Wi-Fi, a tenant lounge, and card-operated laundry rooms at the mixed-use space.
The new Far Rockaway property will also have a kitchen with necessary equipment for every unit at Edgemere Commons B1.
Apart from these, Edgemere Commons B1 is close to the Beach 44th Street subway station and bus stops for the Q22, Q52, and QM17 lines.
Final Date to Apply for the NYC Development
Project developers of Edgemere Commons B1 have stated that the deadline for applying for its latest Queens-based mixed-use establishment is June 30.
Edgemere Commons B1 promises affordable housing to the people of Queens through its 189 income-based rental units laced with amenities.
