By Teresa Irene Gonzales
On July 21, 2014 Inae Oh published an article at the Huffington Post that discussed the New York City Council approved development of a condominium high-rise at 40 Riverside Boulevard on the Upper West Side of Manhattan. The planned development will provide 218 market-rate condominiums with views of the Hudson River, and access to amenities such as a child area, gym, and swimming pool.
In order to create a larger footprint and obtain millions in tax breaks through New York City’s Inclusionary Housing Program, Extell, the developer of this project, will also provide 55 affordable housing rental units to moderate- and low-income residents. The “affordable” rental units will go for $845 for a studio, $908 for a one-bedroom, and $1099 for a two-bedroom.
Households with incomes that are 60% below New York City’s median income are eligible to apply. To qualify for these units a family of four will need to make less than $51,540 a year and a single person will need to make less than $36,120 a year. Tenants in the affordable housing units will not have access to the building’s amenities and will have to enter through a separate door – which from photographs appears to be located in an alleyway.