The complex will first be used as housing for staff during the 2023 FISU Winter World University Games before the apartments are turned over to long-term renters. After the games end on Jan. 22, the apartments will be cleaned and turned over for tenant use by February. Gabe Regan — a development associate with MacKenzie Overlook’s developer, Regan Development Corporation — said the company is shooting for a Feb. 1 move-in date.

There are 60 units available at MacKenzie Overlook — 40 one-bedroom apartments and 20 two-bedroom apartments. People can apply for a unit at tinyurl.com/44ajft85 until 5 p.m. on Aug. 1. People can request a paper application from the development corporation office at 914-693-6613.

Tenants will be selected in a lottery drawing, according to Regan. At 3 p.m. on Aug. 29, there will be a lottery drawing where potential tenants are chosen. Regan said any tenants who aren’t selected would be waitlisted for an apartment. The lottery will stream live at https://tinyurl.com/2cpw2n7t.

Regan Development is working with a property management company to field and vet the applications. If someone isn’t qualified for an apartment, their name won’t be placed in the lottery.

Construction at MacKenzie Overlook is ahead of schedule, according to Regan, with completion slated for mid-August.

MacKenzie Overlook is one of two housing developments being built on Wesvalley Road right now. The other, Fawn Valley, will be a combination of six single-family, two-bedroom Cape Cod-style houses and 16 two-bedroom condominiums located within four condo buildings. MacKenzie Overlook is the only development with units that will rent at a rate deemed “affordable” for people in the local workforce according to a 2020 housing needs assessment study.

A housing needs assessment study released in 2020 showed that with a target of 50% of the local workforce living within the community, North Elba and Lake Placid have a need for roughly 1,534 “workforce and affordable level” housing units. Most of that assessed need, 1,013 units, is for people who make less than $35,150 per year. In the study, affordable rent for that income range is defined as less than $879 per month for an apartment and under $123,000 for a house.

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Income limits

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MacKenzie Overlook is a tax credit property, according to Regan Development Corporation Receptionist Fern Spinazzola, so only people who make up to 80% of the median area income would qualify for a unit. A household that collectively earns up to between 40% and 80% of the AMI is eligible to apply for an apartment. The cost of rent varies based on how many people live in a single unit and how much they collectively earn each year.

Forty percent of the AMI is a maximum of $21,480 for one person living in a single unit, $24,560 for two people living in one unit, $27,640 for three people sharing a unit and $30,680 for four people living in the same unit. A 50% maximum is $26,850 for one person, $30,700 for two people, $34,550 for three people and $38,350 for four people. For a 60% limit, one person could make up to $32,220, two people could earn up to $36,840, three people could make up to $41,460, and four people could have an income of up to $46,020. The maximum income for an 80% limit is up to $42,460 for one person, $49,120 for two people, $55,280 for three people and $61,360 for four people.

A one-bedroom apartment for a household that makes 40% of the AMI would have an estimated rent of $441, and a two-bedroom apartment with the same income limit would rent for an estimated $525 per month. For a household with a collective maximum income at 50% of the AMI, a one-bedroom apartment would cost $573 and a two-bedroom apartment would cost $683. A one-bedroom apartment with a 60% limit would rent for $705, and a two-bedroom apartment with the same limit would rent for $841. With an 80% limit, a one-bedroom apartment would rent for $813 and a two-bedroom would rent for $937.

People who make more than that wouldn’t qualify for an apartment at MacKenzie Overlook.

Once tenants are selected from the lottery, they’d be notified and asked to make an appointment to provide proof of income and other documentation to ensure the potential tenants don’t have an income that exceeds the maximum limit. Spinazzola said those documents would go through a third-party verification process; then, sometime between the end of August and next February, Spinazzola said tenants would be asked to sign a lease and leave a security deposit.

Heat, hot water, cooking electric, apartment electricity and air conditioning aren’t included in the price of rent, according to the application. One-bedroom apartments are expected to have an $87 utility allowance, and two-bedroom apartments are expected to have a $108 utility allowance.

Applicants’ incomes would be calculated just before signing a lease; if their income rises or falls after that time, according to the application, that wouldn’t affect their income qualification.

In addition to providing income information on their application, applicants are asked about their employment information, rental history and if they have any sources of financial aid aside from their work income.