Attention starving artists: A proposed mixed-use building in Ridgewood, Queens, is offering up studio space for a paltry $10 a year. That’s less than $1 a month! The development is planned for 176 Woodward Avenue, and will devote 3,000 square feet for extremely affordable space promised to artists and community groups. Judging by the 53,000 applicants who recently applied for 89 affordable live-work studios in Harlem, we can only imagine how the competition for these spaces will work.

According to DNAinfo, developer Slate Property Group‘s initial proposal included no affordable housing, but after working with Councilman Antonio Reynoso to obtain support for a zoning variance, developers were urged to commit to making half of the units in the 88-unit building affordable. The property will also house commercial space to be used for light industrial purposes like 3-D printing, raw material supply, and electrical contractors. The affordable housing units will be distributed to people earning between $23,000 and $105,000 per year, while the remaining will go for “market rate.” The building will include in-unit laundry, an exercise room, and a rooftop dog run and pet washing area. On Tuesday, City Council approved the plan.

Ready to move in? Artists and community groups, of which there will be a mix, will eventually be chosen by the developer in consultation with Reynoso’s office, who will be working with a host of unnamed “artist groups” to select candidates. According to Reynoso, “they’ll tell us what they want.”