The Bronx is showing no signs of slowing down during the tough economic times by continuing to provide affordable housing for its deserving residents.
After construction began in January 2010, The Tiffany, a 53-apartment high-riseat 1150 Tiffany Street in Longwood, is very close to being completed and will welcome its future residents on Sunday, May 1.
A project created by Mastermind Ltd, The Tiffany was constructed through the New York City Department of Housing Preservation and Development as part of the New Housing Opportunities Program, which requires that new subsidized apartments be rented through an open lottery system to ensure fair distribution of housing.
The Tiffany, built to accommodate the middle-income residents of the Bronx, is one of the Mastermind Ltd’s newest additions to the borough after the seven-story Washington Bridge View co-op development was opened in Morris Heights on 150 Featherbed Lane in 2009.
As of Monday, March 7, applications for The Tiffany apartments were being accepted and in less then a month, over 6,000 applications were received.
Mastermind Ltd chief operating officer Radame Perez was not surprised by the strong interest from people and he believes it is because the Bronx is once again becoming a place where people want to live and raise their families.
“I think 6,000 applications speaks for itself, not necessarily just the building,” Perez said. “The residents of Longwood have been anticipating the completion of this building and it’s for everyone in this booming borough. We felt this was the right place for The Tiffany because this neighborhood has so much to offer.”
The Tiffany consists of 25 one-bedroom, 23 two-bedroom apartments and five three-bedroom apartments, and offers an indoor fitness center, indoor or outdoor community space, private and public terraces, a playground, pull-up parking and an on-site laundry facility.
Rents begin at around $637 per month for a one-bedroom apartment and range up to $1,725 for three-bedroom apartments. The building is conveniently located to shopping, restaurants and public transportation options such as the Bx11 bus and 2 and 5 trains.
The lottery selection process for The Tiffany has begun and it will be used to determine which applicants will be chosen to rent the apartments.
“We definitely expect to have all apartments rented out by mid-May,” said Damian Perez, Mastermind Ltd director of communications.
©2011 Community News Group