New York City is set to get its first "micro-unit" apartment building - "My Micro NY".
In July 2012, Mayor Bloomberg of New York City announced a contest inviting designs of "micro-units" or miniature apartments that could be built in the city. Of the 33 submissions received, the winner was declared to be a consortium of developers, namely - Monadnock Development, Actors Fund Housing Development Corporation and nARCHITECTS.
The consortium will build the city's first micro-unit building that will comprise of tiny apartments using modular construction methods and an innovative design. New York is already famous for its cluttered apartments and stuffed condos. Therefore, the mayor's decision of building "micro-unit" apartment comes as a surprise, reports Consumerist.com.
The new building titled "My Micro NY" will comprise of 55 units on a city owned lot at 335 East 27 Street in Manhattan. Each apartment will measure around 250-370 square feet only, featuring "Juliette" balconies. Around 40 percent of the building's homes will be made available exclusively to middle and low-income New Yorkers, reports Psfk.com.
The micro apartments will have 10-feet high ceilings and the balconies will be seven feet wide openings. The units will also have 16-feet long lofts overhead with full-depth closets. The kitchens will sport pullout pantries, a place for microwave and a full-height refrigerator. Foldable beds and tables will also be available in the units, reports, reports the Wall Street Journal.
Rents of the homes would range from $939 per month for people earning 80 percent of the area's average income or $55,000 annually for a couple to $1,873 for those earning 155 percent of the area's average income or $106,640 annually, reports Bloomberg.
"Micro-units may be an appealing idea for developers, who prefer building studios and one-bedrooms and find doing so a challenge because they need larger apartments to cover the costs of construction in the city" Steven Spinola, president of the real estate board of New York told Bloomberg. "I believe there's a market for this," he said in a telephone interview. "But at what rent? What will it cost to build and to carry the units, and will the market rent that can attract people cover the costs? That's the real question." he added.
