New Affordable Housing Lottery Opens for Astoria Cove

OANA would like to inform the community about a new affordable housing lottery that has recently launched for Astoria Cove, bringing 75 affordable units to a new 731-unit residential development on 26th Avenue in Astoria.

Developed by the KS Group and Alma Realty, this project includes two residential buildings rising 26 and 7 storiesalong the Astoria waterfront. These buildings represent the first completed structures of the larger Astoria Cove master development, which is planned as a multi-phase project expected to deliver over 2,800 apartments across several residential buildings along the East River. (Astoria Cove)

The current phase will ultimately include four mixed-use residential buildings totaling 731 apartments above retail and parking. (citybiz)

The newly launched housing lottery offers 75 income-restricted affordable apartments available through NYC Housing Connect. Units are reserved for households earning between 80% and 130% of the Area Median Income (AMI). Available apartments include studios, one-bedroom, and two-bedroom units with rents varying depending on income tier and household size.

Residents will have access to a wide range of amenities, including:

• Fitness center and spa
• Yoga and dance studio
• Recreation and game rooms
• Business center
• Rooftop and outdoor terrace spaces
• Package lockers and storage
• Bicycle storage
• Covered parking with EV charging stations

Interested applicants must meet all income and household size requirements and submit their applications through NYC Housing Connect.

The application deadline is June 2, 2026.

Shorter version for soc media:

OANA would like to inform the community about a new affordable housing lottery that has launched for the Astoria Cove waterfront development in Astoria.

The lottery includes 75 affordable apartments in a new 731-unit residential development on 26th Avenue, built by KS Group and Alma Realty. The completed phase includes two residential buildings rising 26 and 7 stories along the East River waterfront.

These buildings represent the first completed structures of the larger Astoria Cove master plan, which was approved as a multi-phase redevelopment of the former industrial waterfront and is expected to bring approximately 2,800 apartments across several residential towers, including a significant number of affordable units.

The current lottery offers studios, one-bedroom, and two-bedroom apartments for households earning between 80% and 130% of Area Median Income (AMI). Monthly rents vary depending on income tier and household size.

Residents will have access to amenities including a fitness center, spa, yoga and dance studio, recreation and game rooms, business center, rooftop terraces, bike storage, package lockers, and covered parking with EV charging stations.

Applications must be submitted through NYC Housing Connect. Applicants must meet all income and household size requirements.

The application deadline is June 2, 2026.