BROOKLYN, NY — Applications are now being accepted for 153 affordable apartments at 325 Bond Street, a newly constructed residential development in Gowanus, with rents starting as low as $903 per month. The housing lottery is scheduled to close on June 8, 2026, giving eligible New Yorkers a limited window to apply.
Located at 325 Bond Street in Brooklyn’s rapidly changing Gowanus neighborhood, the development is one of the latest residential projects to rise along the waterfront corridor surrounding the Gowanus Canal, an area that continues to undergo significant redevelopment following a citywide rezoning effort that has attracted thousands of new housing units.
The lottery includes studio, one-bedroom, and two-bedroom apartments available to households earning between $34,766 and $201,520 annually, depending on household size and unit type.
New Housing Along the Gowanus Canal
The development sits just steps from the historic Gowanus Canal, a waterway that has shaped the neighborhood’s industrial identity for generations. While new residential and mixed-use projects continue to transform the area, the canal itself remains the focus of a long-term federal environmental remediation effort.
Residents interested in learning more about the ongoing cleanup can visit the official Gowanus Canal Superfund Cleanup website at Gowanus Canal Superfund Cleanup Project.
Despite the canal’s industrial history, Gowanus has emerged as one of Brooklyn’s fastest-growing residential neighborhoods, attracting new housing, businesses, restaurants, and public investments while maintaining connections to nearby communities including Carroll Gardens, Cobble Hill, Boerum Hill, and Park Slope.
Apartments Available Across Multiple Income Levels
The housing lottery includes apartments designated for households earning 40%, 60%, 110%, and 130% of Area Median Income (AMI).
Monthly rents range from:
- $903 for select studio apartments
- $960 to $3,821 for one-bedroom apartments
- $1,142 to $3,366 for two-bedroom apartments
In total, 153 apartments are available through the lottery.
Eligible household incomes begin at $34,766 for certain studio units and extend up to $201,520 for larger households applying for select two-bedroom apartments.
Preference is being provided for residents of Brooklyn Community Board 6, as well as certain municipal employees and military veterans, consistent with city housing lottery guidelines.
Modern Amenities Included
Residents selected through the lottery will have access to a range of modern amenities designed to support urban living. The building features a rooftop terrace and outdoor terrace areas that provide additional recreational space, along with a fitness center, children’s playroom, media room, business center, package lockers, and common-area Wi-Fi.
Apartments include dishwashers, energy-efficient appliances, high-end kitchen finishes, and modern countertops. The property also offers shared laundry facilities, bike storage, security features including a virtual doorman system, an on-site resident manager, concierge services, and online tools for paying rent, submitting maintenance requests, and managing leases.
Heating and hot water are included in the rent, while tenants are responsible for electricity costs.
Why This Lottery Matters
The opening of applications at 325 Bond Street comes as housing affordability continues to be one of Brooklyn’s most pressing challenges. With rents rising across many neighborhoods, housing lotteries remain one of the few opportunities for eligible residents to secure newly constructed apartments at below-market rates.
The project was developed through New York City’s Inclusionary Housing Program and is expected to receive benefits through the 421-a tax incentive program administered by the New York City Department of Housing Preservation and Development.
For many households, the lottery provides a chance to live in a newly constructed building within one of Brooklyn’s most sought-after neighborhoods while paying rents that are significantly lower than comparable market-rate apartments in the area.
Applicants who are unfamiliar with the housing lottery process can find guidance, eligibility information, and application tips through the Affordability.nyc Housing Lottery Guide.
Application Deadline Approaching
Interested applicants should act quickly. The housing lottery for 325 Bond Street closes on June 8, 2026. – You can Apply Here.
As redevelopment continues throughout Gowanus, projects like 325 Bond Street are expected to play a significant role in adding new housing opportunities while reshaping one of Brooklyn’s most closely watched neighborhoods. For eligible households seeking affordable housing in Brooklyn, this lottery represents one of the largest opportunities currently available in the borough.
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