Two Affordable Projects in Brooklyn Salvaged by State
Market-rate condos and brownstones aren’t the only housing threatened by the economic downturna decline in the value of Low Income Housing Tax Credits has meant trouble for affordable projects. At least two such projects, thougha 59-unit development in Bushwick call Rheingold Heights II and the 72-unit Domenech Senior Housing in Brownsvillehave been preserved by special emergency funding from the New York State, reports the Brooklyn Eagle; an addition 13 projects around the state were also saved.
May 21, 2012 | 02:16 PM