Winning the Housing Lottery
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…
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.
y is it that when anyone has a difference of opinion they’re suddenly labeled a hater? just because you don’t agree with the program that doesn’t make you a hater. I think the program is stupid and the thought of a single person making 85K a year getting an entire brownstone under the guise of an affordable housing program is even worse. am I hater? hell no. I’m a person with an opinion and it just so happens that I think there is a better use of these kinds of funds or initiatives. I think affordable programs are great when they help people who are actually in need but this is not at all the case. its not a personal attack at “kuroko” because he got over – good for him nor am I jealous that I didn’t win the lottery. I just think these types of programs help a small handful of people get rich and tons of others that could have been helped with nothing.
y is it that when anyone has a difference of opinion they’re suddenly labeled a hater? just because you don’t agree with the program that doesn’t make you a hater. I think the program is stupid and the thought of a single person making 85K a year getting an entire brownstone under the guise of an affordable housing program is even worse. am I hater? hell no. I’m a person with an opinion and it just so happens that I think there is a better use of these kinds of funds or initiatives. I think affordable programs are great when they help people who are actually in need but this is not at all the case. its not a personal attack at “kuroko” because he got over – good for him nor am I jealous that I didn’t win the lottery. I just think these types of programs help a small handful of people get rich and tons of others that could have been helped with nothing.
I think this point is illustrated in places like atlantic commons. the homes in atlantic commons were initially sold for ‘affordable’ prices and I distinctly recall a few years ago when there was a house in atlantic commons on brownstoner that started a heated discussion because they were asking for over a million dollars for the house. its insane, all I’m saying is for the effort and resources put into programs of this nature it is only right that more than one person can get help from it.
Although I agree with the statement that Clinton Hill does not really need this program. I smell a lot of hate going on. Be happy for the guy. I myself have been fortunate to win at one of these lotteries, you cannot however sell for at least 10yrs with out haveing to pay some of the subsudy back. Housing lotteries are far from stupid. This man won fair and square. Get over it.
good for the winner.
hey 1.43 – i don’t want my taxes wasted on welfare and medicaid – but what you gonna do.
Wasn’t this house owned by a non-governmental non-profit community organization?
Where’s the taxpayer dollars? And before you type in caps TAX ABATEMENT know that every development with an affordable component has them. Haven’t they (PACC) been doing this for years?
If this should be left to market forces than I believe the market had/has spoken…they were abandon by such market.
So why all the haters? I would actually argue that because it hadn’t been accomplished by the all wise and knowing “market” years ago that the sale price of $455K was “market” rate.
Kuroko
Housing lotteries are foolish. Our government should provide affordable housing for everyone or for no one (but of course the poorest of the poor) And since they have no plans to provide housing for everyone why are they doing it for some. All or none that’s the only thing that makes sense – the idea that our government will provide housing for a guy making $85K while someone making $30K has to pay their own way is ridiculous. If the government wants to help they should sell off these buildings to developers at an auction and use the funds to LOWER EVERYONE’S TAXES!!!! That’s how we make the city more affordable for everyone – LOWER OUR TAXES!!!!! Wasting tax dollars on housing for a guy who makes $85K is STUPID!!!
Wasn’t this house owned by a non-governmental non-profit community organization?
Where’s the taxpayer dollars? And before you type in caps TAX ABATEMENT know that every development with an affordable component has them. Haven’t they (PACC) been doing this for years?
If this should be left to market forces than I believe the market had/has spoken…they were abandon by such market.
So why all the haters? I would actually argue that because it hadn’t been accomplished by the all wise and knowing “market” years ago that the sale price of $455K was “market” rate.
Kuroko
“Let’s fix up the schools, improve parks, hire more police officers or renovate housing for the truly needy.”
Thanks for that well-thought-out and easily implemented plan. We will be sure to return to you for ideas about how exactly to fund your grand and original vision. Meanwhile, plans like this lottery, while far from perfect, are actually doing something and making a difference, as opposed to talking about it.
11:54, the article says he paid almost $45K in downpayment and closing costs, and is paying a mortgage of $3k plus monthly. That’s hardly free, or “nothing”. Granted, it may be much less than someone buying a market rate house, but the lucky guy won a lottery.
Why can’t we just wish him and the other winners well, be glad a derelict building got renovated, was stopped from continuing to be a blight on the block, and became a tax paying property, and move on? PACC has houses in the neighborhood because they are based in the neighborhood. I have nothing to do with them, but I imagine that with the range of projects they have, selling off a couple of houses in a lottery still brings money to them, and allows them to renovate and build affordable units elsewhere, and gets their properties back on the tax rolls.
Sheesh, you can’t win here. If they had turned all the houses into affordable units for that single mother, people would be complaining that low income people shouldn’t be looking to live in a higher income place like Clinton Hill, why should our tax dollars subsidize them, they should live in East NY, blah, blah, blah.