NYC Department of Housing, Preservation & Development (HPD) has launched an affordable housing lottery for Wakefield Yards, an 11-story mixed-use building at 4641 Furman Avenue in the Wakefield section of The Bronx, as reported by YIMBY.

 

Designed by Aufgang Architects and developed by Radson Development, the structure yields 251 residential units, and available on NYC Housing Connect, HPD’s online portal, are 212 units for residents at 30 to 80 percent of the area median income (AMI), ranging in eligible income from $19,235 to $160,720.

 

Residential units are equipped with broadband internet, energy-efficient appliances, and air conditioning according to HPD, and amenities include a shared laundry room, a community room, indoor and outdoor recreation areas, a rooftop terrace, an elevator, and bike storage.

 

At 30 percent of the AMI, there are three studios with a monthly rent of $465 for residents earning incomes ranging from $19,235 to $38,880; 11 one-bedroom units with a monthly rent of $591 for those with incomes ranging from $24,000 to $43,740; ten two-bedroom units with a monthly rent of $700 for residents on incomes ranging from $28,938 to $52,500; and one three-bedroom units with a monthly rent of $800 for those with incomes ranging from $33,532 to $60,270.

 

At 50 percent of the AMI, there are 12 studios with a monthly rent of $866 for those with incomes ranging from $32,983 to $64,800; 24 one-bedroom units with a monthly rent of $1,092 for residents with incomes ranging from $41,178 to $72,900; 24 two-bedroom units with a monthly rent of $1,301 for residents with incomes ranging from $49,543 to $87,500; and three three-bedroom units with a monthly rent of $1,494 for incomes ranging from $57,326 to $100,450.

 

At 60 percent of the AMI, there is one studio with a monthly rent of $1,066 for incomes ranging from $39,840 to $77,760; 14 one-bedroom units with a monthly rent of $1,342 for residents on incomes ranging from $49,749 to $87,480; 13 two-bedroom units with a monthly rent of $1,601 for those with incomes ranging from $59,829 to $105,000; and two three-bedroom units with a monthly rent of $1,841 for residents with incomes ranging from $69,223 to $120,540.

 

At 80 percent of the AMI, there are ten studios with a monthly rent of $1,395 for residents on incomes ranging from $51,120 to $103,680; 41 one-bedroom units with a monthly rent of $1,710 for residents with incomes ranging from $62,366 to $116,640; 34 two-bedroom units with a monthly rent of $2,115 for those on incomes ranging from $77,452 to $140,000; and nine two-bedroom units with a monthly rent of $2,534 for residents on incomes ranging from $92,983 to $160,720.

 

Prospective renters must meet income and household size requirements to apply for these apartments, according to HPD, and applications must be postmarked or submitted online no later than Sept. 23.

According to HPD officials, Wakefield Yards is a newly constructed 212 spacious units’ residential development located in Wakefield’s Bronx Community District 12. While tenants are responsible for electricity, heat and hot water is provided by the landlord they said. The development is close to transportation, local stores, and restaurants and transit is accessible via the #2 train and the BX31, Bx39, BxM11 buses.

 

HPD officials say affordable housing is based on a household’s percentage of Area Median Income (AMI), which is set by the federal government on a yearly basis. Housing is considered affordable if it costs about one-third or less of household income, and is regulated so the rent can’t go up dramatically over time.

They said in order to be eligible for affordable housing, residents must be 18 years old, and their household income needs to be in a specific range for each affordable housing opportunity. Applicants are required to meet additional guidelines, including asset limits, and tenant selection criteria to qualify.

 

The AMI for all cities across the country is defined each year by the U.S. Department of Housing and Urban Development (HUD). The 2025 AMI for the New York City region is $145,800 for a three-person family (100% AMI). We have previously asked HUD to provide the AMI for the New York City region for a single person and have not received a clear response. We’re following up with HUD and will share any further feedback we receive. For more background on this, click here.

 

Various graphs which show Bronx demographics are attached, courtesy of New York City University (NYU)’s Furman Center.

 

According to the center, between 2019-2023, the largest share of studios had gross rents of between $1,000 and $1,500 (32%), the largest share of one-bedroom units had rents between $1,000 and $1,500 (33%), the largest share of two-bedroom units had rents between $1,500 and $2,000 (29%), the largest share of three bedroom units had rents between $1,500 and $2,000 (21%).

Affordable Housing Lottery Helpline: 212-863-7990
Email: nychousingconnect@hpd.nyc.gov

 

For information on applying for affordable housing for people with disabilities, please submit accessibility inquiries to:
Phone: 212-863-6486
Email: accessibility@hpd.nyc.gov

 

HPD Housing Ambassadors
Email: ambassadors@hpd.nyc.gov