On the off-chance you don’t land a spot in one of those coveted cheap apartments being built in Williamsburg, you can always put yourself into the lottery for this new development at 60 Water St. in DUMBO, where affordable units will be going for as low as $539/months for studios, and $900 for two-bedrooms.
All told, the building will include 58 low-income units, and come with strict income requirements for eligibility: $23,420 maximum for those seeking a studio, and $41,950 for a two-bedroom (applications are here, if you’re interested). The project is part of a larger Two Trees development that’ll also include retail space, a public school, and hundreds more units that’ll presumably be rented out at DUMBO’s astronomical market rates. So, is this a solution to all of our collective housing problems? Most definitely not. But, along with this new push to build 100,000 units for middle-income residents (and presuming they don’t follow the shameful lead of Williamsburg condos creating separate entrances for poorer residents), a step in the right direction. And if none if it works out for you, there’s always Manhattan. We hear it’s getting pretty cheap over there.
Follow Virginia K. Smith on Twitter @vksmith.