June 16th, 2014, 11:59 AM
222 East 40th Street
Affordable Apartments With Swimming Pool to Rise in Murray Hill
By Heather Holland on June 16, 2014 8:13am
MURRAY HILL — Affordable apartments with access to a swimming pool and a roof deck are coming to 40th Street, the developer said.
A former Hertz garage at 222 E. 40th St. between Second and Third avenues will be demolished this year to make way for a 36-story residential building, said Michele de Milly, who represents the property owner and developerFisher Brothers.
Seventy-five of the project's 373 rental units will be affordable, geared toward New Yorkers making about 60 percent of the area median income (AMI), de Milly said.
A single person would need to make about $35,280 to qualify for a unit, while a family of four would need to make about $50,340, de Milly said.
The Department of Housing Preservation and Development confirmed that the developer had submitted an application for affordable housing for the project and said the proposal was still under review.
The price of the rentals has not been determined yet, and the design of the building is still in progress, HPD said.
The developer just received a Department of Buildings permit last week to demolish the current six-story garage.
The new tower, expected to open in 2017, will offer amenities including a fitness center, a swimming pool, yoga studio, lounges, a kids area, 72 parking spaces, at least 186 bike spaces and a rooftop space, de Milly said.