Push and Pull Over Burg Affordable Build
The Post brings an update about an affordable housing development that’s been in the works in Williamsburg for several years. The project, which has been in the pipeline since ’07, is being built via a partnership between a firm called Yuco Real Estate and HPD; plans recently unveiled to the Community Board 1 call for…
The Post brings an update about an affordable housing development that’s been in the works in Williamsburg for several years. The project, which has been in the pipeline since ’07, is being built via a partnership between a firm called Yuco Real Estate and HPD; plans recently unveiled to the Community Board 1 call for about 90 rental units on a few lots, most on Ten Eyck Street (one of them is pictured above). CB1’s land-use committee is critical of several aspects of the plans, particularly that the overwhelming majority of the apartments are supposed to be studios and one-bedrooms, and that most would be made available to people who make 60 percent of the area’s median income. “Our initial concern in HPD awarding the sites to a private developer was how affordable the apartments would be to those most in need in our neighborhood, said CB 1 member Esteban Duran. “Yuco should provide a lower AMI range to bring it in line with what local community based housing organizations would offer.” The board has asked the developer and HPD to present plans to the board again in a few months.
Yucon’t Always Get What You Want [NY Post] GMAP
Photo from Property Shark.
It’s 60% of AREA median income, with the area including the entire city and some of the surrounding suburbs. Area median income is somewhere around $70,000 for a family of four. and many families in these neighborhoods fall well below the 60% threshold (which, ironically, means that they are too poor to qualify for a lot of affordable housing).
That said, I was at this meeting and it nowhere near as contentious as the Post article implied.
60% of the median income of 11206 is not very much at all.