An affordable housing lottery has launched for a truly affordable under-construction seven-story development on the corner of East New York’s Shepherd and Glenmore avenues. Studio apartments start at $544 a month and one-bedrooms at $689.

The lottery for the development at 365 Shepherd Avenue includes 40 units, all rent stabilized and income restricted, targeted at households of one to five people earning between $21,566 and $100,620 a year, or between 30 and 60 percent of Area Median Income, according to the listing.

There are 15 studio apartments set at $544 and $1,243 a month, 20 one-bedroom units renting for $689 and $1,563 a month, and five two-bedroom apartments priced at $813 and $1,864 a month.

rendering of a bedroom with floor to ceiling windows
Rendering via NYC Housing Connect
rendering of a studio apartment with a sofa and a bed
Rendering via NYC Housing Connect
rendering of a living room with room for dining
Rendering via NYC Housing Connect

The 83 apartments not included in the lottery are set aside as supportive units for formerly homeless and disabled New Yorkers, according to the listing. There will be on-site support services for those residents.

The building includes a fitness center, garden, bike room, yoga and meditation studio, community rooms, and shared laundry. It is smoke free and pet free, excepting service animals. Rent includes heat and hot water, but tenants have to cover electricity including the stove.

The development has risen on a corner site that formerly had five small single-story buildings (a mix of residential, commercial, and storage) and vacant space used for vehicle parking. Shepherd Glenmore Housing Development Fund Corporation, an offshoot of supportive and affordable housing developer HousingPlus, is behind the development, which was designed by MHG Architects. The HDFC purchased the site from developer William Lattarulo in 2022 for $4.066 million, according to city records.

studio floor plan
Floor plan via NYC Housing Connect
one bedroom apartment
Floor plan via NYC Housing Connect
Two bedroom floor plan
Floor plan via NYC Housing Connect

Renderings show the building has two six-story outer sections with brown brick facades and evenly spaced black framed windows, and a seven-story central section that is largely black with long window panels running horizontally. The ground floor and a panel running vertically up the building are finished with grey brick.

Inside, apartments have large windows, wood floors, and white finishes. The kitchens include quartz counters and induction cooktops, as well as full size refrigerators, ovens, and microwaves, according to the development’s website.

One of the single story buildings that was on the site, pictured in 2016. Photo by Christopher Bride for PropertyShark

Shepherd Glenmore Housing Development Fund Corporation used the state’s Low-Income Housing Tax Credit program and the city’s Supportive Housing Loan Program and Mandatory Inclusionary Housing programs to finance the new development.

The Shepherd Glenmore lottery closes on February 24. To apply, visit the listing on New York City’s Housing Connect website.

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