Greenpoint Landing Opens First Affordable Housing Lottery, Monthly Rates Start at $494

Rendering via Handel Architects

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Good news for low-income Brooklynites: Nearly 100 affordable apartments are now up for grabs in Greenpoint. Applications have opened for the first set of affordable units at the sprawling, controversial Greenpoint Landing development, the fruit of a 2005 rezoning of the waterfront.

The 92 below-market rentals up for lottery are located at 21 Commercial Street, now under construction. They will rent for as low as $495 a month for studios and as much as $1,025 a month for two-bedrooms, as Brick Underground was the first to report.

Qualifying households must have household incomes ranging from $18,309 to $51,780, depending on unit and family size (one to four people). Preference will be given to current residents of Community Board 1.

Of the 92 units available, 23 are studios, 23 are one-bedrooms, and 46 are two-bedrooms. The ground floor of the building will have commercial space.

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The view to midtown Manhattan from Commercial Street

Nearing the end of construction, the six-story building at 21 Commercial Street will be the first of Greenpoint Landing’s slated 10 towers to be ready for occupancy.

This first tower of the waterfront megadevelopment is designed by Handel Architects. The firm is also currently working on a 25-story apartment building in Downtown Brooklyn.

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21 Commercial Street under construction in June

Developers Park Tower Group and L+M Development are co-developing the affordable building. L+M also worked on the development of the townhouses at Navy Green.

Once completed, the Greenpoint Landing complex will contain a whopping 5,500 units, 1,400 of which will be affordable. The affordable units will be spread over two other buildings in addition to 21 Commercial Street — 33 Eagle Street and 5 Blue Slip, both of which are in the early stages of construction.

In addition to the residential units, Greenpoint Landing will also bring a new park and pre-K – 8 school to the neighborhood.

The deadline to apply for the affordable housing lottery at 21 Commercial Street is February 3. For more information and to apply, see HousingConnect’s website.

[h/t: Brick Underground | Photos by Field Condition for Brownstoner]

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