Small Rental Project:

• 6 to 10 Units
• Zoning lot doesn’t permit more than 12,500 sf.
• Outside of Manhattan
• 10-Year Benefit
• Affordability Option C

At least 50% of the dwelling units are subject to rent stabilization for the restriction period.

• Filing Fee: $3,000/DU 6 to 10 Units
• No Construction Wage Requirement

Modest Rental Project:

• 6 to 99 Units
• 35-Year Benefit
• Affordability Option B

At least 20% of  the  dwelling  units  are affordable  housing units;

the weighted average of all income bands for all of the affordable housing units does not exceed 80% AMI

there are no more than 3 income bands for all of the  affordable  housing  units; and

no income band for affordable housing units exceeds 100% AMI.

• Filing Fee: $3,000/DU 6 to 10 Dwelling Units OR $4,000/DU 12 to 99 Dwelling Units
• No Construction Wage Requirement

Large Rental Project:

• 100 Units +
• 35-Year Benefit
• 3-Year Construction Period
• Affordability Option A

At least 25% of the dwelling units are affordable housing  units

the weighted average of all income bands for all of the affordable housing units does not exceed 80% AMI,

there are no more than 3 income bands for all of the affordable housing units

no income  band for affordable housing units exceeds 100% AMI.

• Filing Fee: $5,000/DU for 100 dwelling units+
• Construction Wage Requirement

Very Large Rental Project:

• 150 Units +
• 40-Year Benefit
• 5-Year Construction Period
• Affordability Option A

At least 25% of the dwelling units are affordable housing units;

The weighted average of all income bands for all of the affordable housing units does not exceed 60% percent AMI,

there are no more than 3 income bands for all of the affordable housing units;

no income band for affordable housing units exceeds100% AMI.

• Filing Fee: $5,000/DU for 100 dwelling units+
• Zone A/B Construction Wage Requirement

Homeownership Project

• Condominium or cooperative outside of Manhattan
• 100% of the units shall have an average assessed value of $89/sf max/ private residence for 5 years.
• 3-Year Construction Period
• Affordability Option D
• 20-Year Benefit
• Filing Fee: $4,000/DU
• Construction Wage Requirement if 100+ Units

Commencement Date

• After 6/15/2022 and on or before 6/15/2034 and the Completion Date is on or before 6/15/2038

Construction Work Requirements

• Large rental projects (100+): Minimum of $40/h of wages and 2.5% annual increment.
• Very large rental projects (150+) Zone A: Minimum of $72.45/h of wages and 2.5% annual increment.
• Very large rental projects (150+) Zone B: Minimum of $63/h of wages and 2.5% annual increment.

Zone A

• Manhattan CD 1 – 8
• Brooklyn: 0101- 0104
• Queens: 0201

Zone B

• Brooklyn: 0201- 0204, 0601 – 0602, 0801
• Queens: 0105, 0102