Affordable Lottery Offers 100s Of Cut-Price Homes In UWS Building

UPPER WEST SIDE, NY — More than 250 below-market apartments in one of the Upper West Side's largest new developments are up for grabs through an affordable housing lottery.

All of the 269 newly-developed units that will be offered at General Investment & Development (GID) Companies' Waterline Square development on Riverside Boulevard are being offered to individuals and families earning 60 percent of the Area Median Income. A minimum annual income of $37,578 is needed to qualify for a studio, an income of $40,252 is needed for a one-bedroom, an income of $48,275 is needed for a two-bedroom and an income of $55,783 is needed for a three-bedroom.

The apartments included in the lottery are substantially more affordable than the development's market-rate units. Forty-three studios will rent at $1,041 per month, 59 one-bedrooms will rent at $1,117 per month, 162 two-bedrooms will rent at $1,350 per month and five three-bedrooms will rent at $1,553 per month.

Here's a chart outlining rents and income requirements:

Prospective tenants may apply for the lottery through the city's Housing Connect website. A mail-in application can be requested by sending a self-addressed envelope to: Waterline Square c/o Breaking Ground, PO Box 3620937, New York, NY, 10129. Applications must be sent or postmarked by December 6.

Preference for half of the new apartments will be given to residents of Community District 7, which spans from the northern boundary of Columbus Circle up to West 110th Street between Central Park West and the Hudson River. Five percent of the units will be prioritized for municipal employees, another five percent will be prioritized for people with mobility disabilities and two percent will be prioritize for people with hearing or vision disabilities.

The nearly five-acre Waterline Square development features three towers designed by renowned architects Richard Meier and Partners Architects, Kohn Pedersen Fox Associates and Rafael Viñoly Architects. The towers are connected by three acres of parkland and open spaces such as tree groves, a great lawn, walking paths, a playground, fountains and man-made waterfalls.

Amenities promised to all tenants include a 24-hour attended lobby, an in-unit washer and dryer and access to resident lounges. Residents can join something called the Waterline Club for additional fee in order to gain access to amenities such as a bowling alley, pool, fitness center, basketball court, music studio and art studio.

Photo courtesy Field Condition