What's Happening?
A housing lottery has been initiated for 60 middle-income apartments at a new residential development in the South Bronx. The development, named Inkwell, is located at 586 Gerard Avenue in Concourse Village. It offers modern residences with amenities
such as a dog-washing station, electric vehicle charging stations, and a rooftop terrace. The apartments are available for New Yorkers earning 80 to 130 percent of the area median income, with prices ranging from $1,974/month for one-bedroom units to $3,550/month for two-bedroom units. The development was undertaken by the Karten Organization and designed by Isaac & Stern Architects. Applications for the apartments are open until January 7, 2026, with a preference for 25 percent of the units given to residents of Bronx Community District 4.
Why It's Important?
The launch of this housing lottery is significant as it addresses the ongoing demand for affordable housing in New York City, particularly in the South Bronx. By providing middle-income housing options, the city aims to support residents who fall within the specified income brackets, potentially easing the housing burden for many families. The development also reflects a broader trend of urban revitalization and investment in infrastructure, which can lead to increased economic activity and improved living conditions in the area. The inclusion of amenities such as electric vehicle charging stations highlights a shift towards sustainable living practices.
What's Next?
Qualifying residents have until January 7, 2026, to apply for the housing lottery. The city will continue to prioritize housing initiatives as part of its broader urban development strategy. As the deadline approaches, there may be increased interest and competition for these units, prompting further discussions on housing policy and affordability in New York City. The success of this project could influence future developments and housing policies aimed at middle-income residents.
