An affordable housing lottery has opened for 44 units in an eight-story building located at 869 Myrtle Avenue, part of the long-in-the-works Cascade Linen complex in Bed Stuy. The building is called The Cascade G.
Of the affordable apartments, there are three studios, seven one-bedroom units, 22 two-bedroom units and 12 three-bedroom units. Monthly rents start at $1,041 and top out at $1,553.
The lottery is set at an area median income range of 60 percent for all of the affordable units. Eligible incomes range between $37,886 and $88,800 for households of one to seven people.
Stretching along Stockton Street, Marcy Avenue and Myrtle Avenue, and taking up almost an entire block, the entire U-shaped complex will eventually contain seven buildings, with around 300 total units.
The affordable units will be in one of three buildings (the other addresses at 835 Myrtle and 553 Marcy Avenue) whose exteriors were recently completed. Still under construction is the largest building of the project, located at 847 Myrtle, where three of 10 planned stories have risen.
Isaac Deutsch’s Empire State Management, Abraham Brach and Nachman Leibowitz are the developers. They picked up the Cascade Linen site, a Bed Stuy icon for years, for $70 million in 2015. It was demolished in 2015. Diego Aguilera is the project’s architect of record, according to building permits.
The development was made possible by a rezoning in 2012, the Bedford Stuyvesant North Rezoning, which permitted residential and retail uses and an increase in the site’s buildable square feet.
Market-rate units in the building have yet to launch. Interior photos included with the lottery show open kitchens and large windows, although the units are still in rough form.
Applications for the affordable housing lottery must be submitted by July 29, 2021. Apply through NYC Housing Connect.
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