Seventy low income housing units at the Hoboken YMCA moved into in the new year, Executive Director Susan Walsh said on Wednesday afternoon.
A lottery will be held for the open spots at the building, which is being renovated right now.
The units are available for men who make no more than $25,800 annually and two rent levels will be available.
For those who make between $15,480 and $25,800 will pay $578 per month. Those who make under $15,480 will pay $365 in rent per month.
As of Wednesday afternoon, the YMCA had received about 40 applications, Walsh said. But, she added, she was expecting many more.
The lottery will be held on October 17 and is random. "That's the fairest way to do it," she said.
The part of the building that is being renovated will have 91 available units. Of those, 21 have been allocated to current residents who were grandfathered in, Walsh said. Those 20 people are currently housed in another wing of the building.
Construction to the units started in November 2011 and the entire project is about $16 million, Walsh said.
The rest of the building will also be renovated in the future, she added. For that renovation, however, more fundraising will have to be done. The other half of the building should also serve as a community center for the city of Hoboken, said Walsh, but it's unclear when that renovation will happen.