An affordable housing lottery for seniors has launched at Park 79 — the former SRO which was shut down for operating as an illegal hotel and acquired by real estate company Fairstead for $22.5 million in 2016.
Located at 117 West 79th Street between Amsterdam and Columbus avenues, the seven-story building will offer 77 studio apartments to “seniors earning at or below 50% area median income (AMI), including 24 homes for formerly homeless individuals.”
A handful of units will also be set aside for individuals with mobility issues (5%) and vision/hearing loss (2%).
According to the Housing Connect website, the maximum income for eligible applicants ranges from $37,360 to $53,400, depending on the number of occupants per unit (up to two people can live in these apartments).
Each household must also include one individual 62 or older.
“Eligible tenants will pay 30% of their income and applicants will need to qualify for section 8,” states Housing Connect.
The lottery is open through August 5, and the building is expected to be completed this summer.
Fairstead has partnered with Project FIND to provide onsite services with two social workers onsite.
The building will come with indoor and outdoor common spaces, a laundry room, security cameras and an onsite manager and guard.
Here are some photos of the apartments:
Seniors can apply for Park 79 on the Housing Connect website or request a paper application by sending a self-addressed envelope to: Fairstead Management c/o: Park 79, 560 Lenox Avenue, New York, NY 10037. Those in need of application assistance can work with HPD’s Housing Ambassadors, community-based service providers in New York City who help people prepare and apply for Housing Connect affordable housing lotteries.
Park 79 is one of several residential buildings cited for illegal use by the City and consequently earmarked for affordable housing, most recently at neighboring Upper West Side building 258 West 97th Street, part of a $1.1 Million settlement between the City and an illegal hotel operator.