A lottery is being held for the latest apartment building in the Wyandanch Rising redevelopment.
The Centereach-based nonprofit Community Development Corporation of Long Island Inc. is partnering with Albanese Organization Inc. of Garden City for a lottery at 1 Washington Ave. The 123 apartments are part of Wyandanch Village, a component of Babylon Town’s $500 million public-private revitalization effort that has been in progress for 17 years.
As with the first two completed apartment buildings, developer Albanese received a tax incentive from the town IDA on the building, known as Building E, and will be paying $10.6 million while saving $15.5 million over 40 years. Through a spokeswoman, Albanese declined to provide a date of when the building will be completed but said that the move-in date for tenants will be in February.
The building consists of studios and one- and two-bedroom apartments. The units are available to those earning 50, 60, 90, 100 and 110% of the Area Median Income. For a two-person family, 50% of the AMI tops out at $49,600 and at 110% goes up to $109,120. Monthly rents for a one-bedroom unit range from $1,012 to $1,674. For 19 units, preference will be given to veterans, according to a news release, and units also are available for the mobility-, hearing- and vision-impaired.
“We continue to be extremely pleased at the evolution of the Wyandanch Village development, and 1 Washington Avenue will help us keep up with the continuing demand for affordable rental housing,” Albanese chairman Russell Albanese said in a statement.
Lottery applications are available at cdcli.org, or they can be emailed to BuildingE@cdcli.org. For more information, call 631-471-1215 ext. 222.
Completed applications must be received by the Community Development Corporation by 5 p.m. on Dec. 16.
The lottery will be held on Dec. 20 at 10 a.m. at the Wyandanch-Wheatley Heights Ambulance Corp., 295 Merritt Ave. in Wyandanch.