Examining the housing crunch in the city, the New York HousingConference and National Housing Conference hosted their AnnualAwards Luncheon, as reported by GlobeSt.com yesterday, on Tuesday.Keynote speaker Senator Charles E. Schumer promised affordablehousing would be high on his agenda when Congress reconvenes.Honorees and members alike urged attendees to go forth and garnersupport for affordable housing and continue their efforts ofcreation, financing, preservation and rehabilitation.

Schumer noted during his keynote address that the tight housingmarket across the nation, but particularly in this city, has drivenhousing costs so high that many people are forced to leave insearch of rent they can meet. AvalonBay's tower will help meetdemand for housing, but will not do much to ease statistics quotedby Schumer showing a 43% increase in the 1990s of the number ofpeople paying half their annual income for rent.

In fact, tenants will have to fork over about $35,520 a year tolive here, or approximately $2,960 a month. That's for one of thesmaller apartments. Layouts include studio, one, two andthree-bedroom units, as well as duplexes. Rent will be stabilizedat Avalon Riverview I, according to a spokesperson forAvalonBay.