In accordance with the October 2015 agreement between Blackstone/Ivanhoe Cambridge and the City of New York to preserve 5,000 affordable units at Stuyvesant Town–Peter Cooper Village (PCVST) for the next 20 years, our landlord will solicit applications between March 1, 2016, and March 31, 2016, from eligible applicants who are interested in the affordable units.
At the end of the application period, March 31, 2016, PCVST will conduct a lottery to randomly order all received applications. A maximum of 15,000 names will make up the wait list. Randomly assigned numbers 1–15,000 will determine the order in which applicants will be reviewed and offered an affordable unit as they become available and after applicant eligibility is verified.
The entire lottery process will be conducted under the supervision and guidelines of the New York City Housing Development Corporation.
Are you eligible?
Applicants are eligible if they meet the income requirements shown on the advertisement (https://www.pcvstlottery.com/AdvertisementPdf/22.pdf) for their household size. Applicants cannot all be full-time students, must be prepared to use the affordable unit as their primary residence, and must not have combined assets of more than $250,000.
What counts as income?
Income will be calculated using total annual gross household income. That includes all sources of employment income and other income such as Social Security, alimony, etc., for each member of the household. For self-employed applicants, net income is analyzed. Such applicants must provide proof of self-employed income for a period of at least two (2) years through State and Federal tax returns.
How is household size figured?
Household size is determined by the total number of people who will be living with the applicant full-time, including the applicant.
When will the lottery take place?
As soon as all applications are entered in the system and assigned numbers, the lottery will occur. Following the March 31 deadline, PCVST will wait 7 to 10 business days to ensure all applications postmarked by March 31, 2016, are received. Under the supervision of the New York City Housing Development Corporation (“HDC”), management will enter paper applications in a secure location, a process that could take anywhere from a few hours to several weeks.
How do I enter the lottery?
Applicants can apply online at www.pcvstlottery.com. Prefer paper? Download an application from www.pcvstlottery.com and mail it, or request one with a self-addressed stamped envelope to Peter Cooper Village/Stuyvesant Town, 243 Fifth Avenue, Box 425, New York, NY 10016.
How do I submit the paper application?
Mail the completed application ONLY to the address listed on the application form. DO NOT drop an application off at the Stuyvesant Town management office, mail or email it to the Stuyvesant Town management office, or submit it by any other means. You will not be entered in the lottery.
Is there a fee?
Not for the application, but there will be a nonrefundable credit check fee as units become available and PCVST contacts an applicant to verify eligibility. The fee may vary based on how many household members over the age of 18 are applying and will be based on the rates agreed to with HDC.
Are there any preferences?
Non-New York City residents can apply. However, preference is given only to current New York City residents. This means that current residents of Stuyvesant Town and Peter Cooper Village will be given no special preference in the lottery, as decided by HDC.
Will I be notified if I am selected for the wait list?
If your application is placed on the wait list, you will be contacted and advised of your wait list number. If you are not one of the 15,000 added to the wait list as determined by the lottery, you will not receive any correspondence.
How does my number relate to when I might get a unit?
If you have a lower number, you are more likely to be contacted by PCVST to begin verifying your application. Other factors including your household size and income level may impact when you get called. The lottery number represents your place compared to all other applicants; however, PCVST will contact you only if there is a reasonable chance that an appropriately sized unit for your family may be coming available. Even if you have a seemingly early wait list number, whether or not you are contacted for applicant verification depends on the availability of future units, your specific unit needs, and the specific needs of those ahead of you on the wait list.
Does being contacted for application verification mean I will get an apartment?
Just because you are contacted for applicant verification (and assuming you are ultimately verified), there is no guarantee if or when a unit will be offered. Once PCVST begins to verify your application, PCVST will contact you to either request verification documents (W-2, tax returns, etc.) or to inform you that you have been disqualified. If PCVST contacts you to request verification documents, applicants have ten (10) business days to provide PCVST with the requested documents.
What if I am disqualified?
If PCVST informs you that you have been disqualified, they will provide the specific reason for your disqualification. There may be many reasons for disqualification, but some potential reasons may include third-party credit check failure or not meeting income/household eligibility requirements. There is an appeal process (see complete FAQs on www.pcvstlottery.com).
Is the 2016 wait list forever?
The 2016 wait list containing 15,000 applicants will be active for a period of two (2) years. After the two (2) year period ends, all applicants from the 15,000 applicant wait list that have not been contacted for applicant verification and/or leased a unit will be removed from the wait list and will need to reapply for the next lottery.