The long-awaited Arverne By The Sea development came one step closer to fruition this week with the announcement by both the city’s Department of Housing Preservation and Development (HPD) and the developers that applications are now available for those who are interested in entering a lottery to purchase one of the new homes.
“We are pleased to announce that applications are now being accepted for approximately 600 one and two-family homes with prices starting at $395 thousand,” Carol Abrams, an HPD spokesperson told The Wave. “The qualified applicants will then be put into a lottery to be held on October 28, a week after the deadline.”
One week after that, on November 4, the developers will begin to interview those who won the right to the new homes in the lottery.
In order to qualify for the lottery, would-be purchasers must “have the financial ability to purchase the home, according to officials of the HPD.”
Minimum down payments will be required depending on the applicant’s income.
For example, according to the HPD announcement, a family earning less than $55 thousand a year would have to put up ten percent of the home’s cost, while those earning twice that would have to put up a lesser down payment.
In addition, eligible buyers must be able to qualify for a mortgage. Occupancy of the home is required.
Applications can be downloaded from the website at www.arvernebythesea.com or by sending a stamped, self-addressed envelope to Arverne By The Sea, 101 Beach 73 Street, Arverne, New York, 11692.
All completed applications must be returned by October 21. Any application arriving after that time will be put aside for later lotteries.
Applications sent by registered mail or by express mail will be returned unopened to the sender.
According to HPD, those who reside in the Community Board 14 area (Rockaway and Broad Channel) will receive preference for approximately half of the homes. Applicants who are uniformed New York City Police Officers will receive preference on five percent of the homes.
In order to insure that interested residents have a fair chance to compete for the new homes, HPD will hold two pre-application informational seminars at the Beach Club (Beach 116 Street and the Boardwalk). The first of these will be held at 7 p.m. on September 9. The second will be held at 7 p.m. on October 7.
Arverne By The Sea will be developed in several phases. The culmination will be a mix of 2,300 residential units, including one and two-family homes, mid-rise apartment buildings, retail space, a new school, a community center and parkland.
“This is really going to be wonderful for both those who live in Arverne By The Sea and for Rockaway in general,” said Jerry Romsky, spokesperson for Beechwood-Benjamin, the development team.
Romsky urged those interested to make sure that they attend one of the seminars, although attendance is not mandatory, and to file their applications on time.