Time to Get Your 160 Schermerhorn Lottery Ticket
If you make between $21,770 and $29,760, you’ll want to keep reading. 160 Schermerhorn, phase two of the Hamlin/Time Equities project that started with the 14 Townhouses, has begun taking applications for 100 affordable studio apartments in the building. (The building as a whole has 190 units.) And how sweet a deal is it? $625-a-month…
If you make between $21,770 and $29,760, you’ll want to keep reading. 160 Schermerhorn, phase two of the Hamlin/Time Equities project that started with the 14 Townhouses, has begun taking applications for 100 affordable studio apartments in the building. (The building as a whole has 190 units.) And how sweet a deal is it? $625-a-month sweet! No pets are allowed; nor are full-time students. Half of the units are reserved for people who already live within Community Board 2. There are also some single-digit set-asides for various physical impairments. The application deadline is April 30 and details can be found here.
Development Watch: 160 Schermerhorn Tops Out [Brownstoner] GMAP
Development Watch: Schermerhorn House Rising [Brownstoner] P*Shark
Some More 411 on the “Schermerhorn House” [Brownstoner] DOB
11:10, your math is way off.
If you’re making 22K a year, each month after taxes you are bringing home about $1100/month. So more than half your income goes to the rent.
11:10.
your math is a little off.
no taxes?
are you out of your mind?
alot of “Low Eage Earners” live near my building Biff, and they dont seem to give a lick about taking care of their property like everyone else.
People who make 21-29K oay virtually $0 in Taxes anyhow. So for someone paying $7500/year ($625 X 12) that isnt too bad of a deal – Roughly 25% of rent to income.
It’s an interesting question 10:59 #2. I can’t imagine it will hurt values like the (expanding) detention center on Atlantic could. It’s a new building and low wage earners can have pride and take care of their property like anyone else (not that you implied otherwise).
10:59:
no.
affordable housing is a GOOD thing.
for people who are not elitist, anyway.
sorry to put a damper on this but won’t this now hurt property values in that area?
625 a month on 21K a month is definitely not sweet.
gross statement, actually.
625 a month is how much i paid when i was making 30K a year and i could BARELY survive.
For a person making $21,770, I wouldn’t think $625 a month is considered “sweet”. What’s $21,770 after taxes? Doesn’t seem there would be too much left over to do much in that hood other than go to Dallas BBQ for the early bird special.