The lucky winner of one of the city’s middle-income housing subsidy lotteries gets a write-up in Daily News today. The details are pretty envy-inducing: A guy who makes $85,000 a year as a technician at a high-definition video editing company entered a raffle sponsored by the Pratt Area Community Council (after reading about it on this website!) and won the right to purchase a Clinton Hill rowhouse for $455,000. The monthly mortgage payments total $3,048. He’s now living there with his brother, who’s renting out the lower floors. However one feels about the “fairness” of these lottery systems, it’s hard not to be impressed by what PACC’s doing with these projects (like the earlier PACC restoration of 282 St. James Place pictured above); in addition to the obvious boon winning is to the lucky buyer, the restoration of these run-down houses has a very positive impact on the neighborhood. Are any readers among the other eight lottery winners for this batch of houses?
Brothers Find Sharing House is a Home Run [NY Daily News]
Steal This House! PACC Home Raffle Open Now [Brownstoner]
Lottery Lunacy? Allocating Middle-Income Subsidies [Brownstoner]
Photos from PACC.