Extell’s Affordable Tower Launches Lottery on the LES Waterfront
The housing lottery for Extell’s 229 Cherry Street is officially underway. The 13-story affordable housing property, situated next to behemoth One Manhattan Square, has earmarked 50% of its 204 units for neighborhood denizens.
Criteria is as follows: studios will rent for $947 per month, and are eligible to people earning between $34,355 and $40,080; one-bedrooms rent for $1,017 per month for people earning between $36,823 and $45,840; and two-bedrooms rent for $1,230 for people earning between $44,160 and $57,240, annually.
As previously mentioned, when plans for the Dattner Architects-designed building were first released, Extell drew instant flack from the community for the apparent “poor door” nature of this property. The affordable units are segregated in this significantly smaller separate tower, with far fewer amenities than its 80-story sibling.
While residents won’t be able to enjoy the lush amenities of their neighbors (indoor bowling alley, movie theater, Turkish baths, and 75-foot swimming pool to name a few), they will have access to a shared subterranean parking garage. There are also plans for a landscaped terrace and fitness center.
Folks have until January 2, 2018, to apply in person at the newly-completed building (229 Cherry Street).