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Restored Homes Available Homeownership Opportunities
Restoring Urban Neighborhoods, LLC is pleased to announce that applications are now being accepted for 19 affordable homes now under construction through the Small Homes Rehab – NYCHA Program in Queens Community Boards 3, 8, 12 and 13. These homes are being renovated through the Small Homes Rehab – NYCHA Program of the New York City Department of Housing Preservation and Development.
 
The homes will be renovated and in move in condition when completed. Amenities may include new kitchens and bathrooms, new electrical, heating and plumbing systems and energy efficient appliances, fixtures, doors and windows. All homes will receive a twenty year UDAAP tax exemption.
 
The estimated sales prices, home square footage, and income requirements are as follows:
 
Homes at 80%, 110% and 120% of Area Medium Income (AMI)
Home Address Square Footage Total Annual Income* Range Minimum** -  Maximum Estimated Subsidized***
Sales Price
Maximum
Asset Cap
114-26 208TH STREET 1,176 $46,206 - $72,480 $285,000 $158,580
171-48 119TH ROAD 1,655 $46,206 - $72,480 $275,000 $158,580
168-32 119TH AVENUE 1,260 $46,206 - $72,480 $275,000 $158,580
168-31 118TH ROAD 1,440 $46,206 - $72,480 $250,000 $158,580
144-41 158TH STREET 1,148 $46,206 - $72,480 $285,000 $158,580
171-15 144TH AVENUE 1,336 $46,206 - $72,480 $280,000 $158,580
222-33 143RD ROAD 1,162 $46,206 - $72,480 $275,000 $158,580
197-18 116TH AVENUE 1,152 $46,206 - $72,480 $285,000 $158,580
117-27 204TH STREET 1,140 $46,206 - $72,480 $275,000 $158,580
198-14 119TH AVENUE 1,063 $46,206 - $72,480 $275,000 $158,580
32-10 102ND STREET 1,188 $73,386 - $99,660 $425,000 $158,580
80-44 162ND STREET 1,296 $73,386 - $99,660 $350,000 $158,580
223-19 111TH AVENUE 1,110 $73,386 - $99,660 $350,000 $158,580
190-17 115TH DRIVE 1,531 $73,386 - $99,660 $400,000 $158,580
118-19 190TH STREET 1,312 $73,386 - $99,660 $350,000 $158,580
186-20 FOCH BOULEVARD 1,156 $73,386 - $99,660 $375,000 $158,580
177-48 BAISLEY BOULEVARD 1,608 $73,386 - $99,660 $350,000 $158,580
177-19 120TH AVENUE 1,788 $73,386 - $99,660 $350,000 $158,580
89-55 208TH STREET 1,476 $73,386 - $108,720 $435,000 $158,580
*Income varies by household size. Income guidelines may be subject to change.
**Minimum incomes are approximate and are estimated based a purchaser contributing a 5% down payment. Larger down payments may be required for 1 and 2 person households. Larger down payments may allow for lower minimum incomes.
***Price based on eligibility for subsidy.
 
Eligible buyers should have 5% of the purchase price available for down payment. Buyers must occupy the home as their primary residence. Please note that the quoted sales prices, maximum household income, amenities, etc. are estimated and are subject to change.
 
To request an application:
REQUEST BY MAIL: Restoring Urban Neighborhoods, LLC, 150 Broadway, Suite 2101, New York, NY 10038
Include a self-addressed and stamped envelope.
DOWNLOAD ONLINE:  www.neighborhoodrestore.org

Qualified applicants will be required to meet income guidelines and additional selection criteria. Completed applications must be returned by regular mail only (no priority, certified, registered, express, oversized, or overnight mail will be accepted) to a post office box number that will be listed on the application, and must be postmarked by May 1, 2017, the deadline date. All applications postmarked after the deadline date will be set aside for possible future consideration. Applications will be selected by a lottery; applicants who submit more than one application may be disqualified. General preference will be given to New York City residents. 5% of the units are set aside for mobility-impaired applicants. 2% of the units are set aside for visual or hearing impaired applicants. Preference for a percentage of units goes to: Residents of Queens Community Boards 3, 8, 12 and 13 (50%), NYCHA residents**** (25%) and Municipal employees (5%).
 
****Preferences for NYCHA residents will be in the given order of priority: (i) current public housing residents in a FHA homesin Queens; (ii) current public housing resident in other NYCHA public housing developments in Queens; (iii) current residents in other NYCHA housing developments; (iv) certified applicants on NYCHA’s public housing waiting list; and (v) current NYCHA Section 8 voucher holder.
 
EACH BUYER MUST OCCUPY THE HOME AS THEIR PRIMARY RESIDENCE.  Any prospective applicant who currently owns or previously has purchased a residential property is ineligible.
 
No Broker’s Fee. No Application Fee. Owner Occupancy Required.
 
This advertisement is not an offering. It is a solicitation of interest in the advertised property.  

 


To see more about each of the available properties,
click
HERE to visit our website.

 
To download a copy of the paper application, click HERE.
 

Come to an informational session to learn more about our properties!

Informational sessions will be held on:
Monday, March 13, 2017
6 - 8 PM at York College
94-20 Guy R Brewer Blvd, Jamaica, NY 11451

Saturday, April 08, 2017
2:30 - 5 PM at PS 69
77-02 37 Avenue, Jackson Heights, NY 11372
 
Seminar attendance is not mandatory to purchase a home.
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