Despite the Rentpocalypse, Brooklyn Will Soon Be a Leader in Affordable Housing
Just because the city’s housing situation has officially been deemed a “crisis” by the mayor’s office, that doesn’t mean there isn’t any good news on the horizon as more affordable housing is concerned. In fact, largely because of a few massive projects currently underway in Greenpoint, Prospect Heights and Downtown Brooklyn, Brooklyn will soon be a citywide leader in affordable housing.
Yes, Brooklyn is still destined for an influx of ultra-expensive new apartment complexes the likes of which the borough has never seen, but 3,069 of these units will be rented out below the market rate, as per a ruling declared last month by the Department of Housing and Preservation as part of the 2015 fiscal year budget. And according to a report compiled by AM New York, an additional 3,846 affordable apartments have been saved through preservation, making Brooklyn’s tally of forthcoming affordable units the highest of any borough:
screenshot: www1.nyc.gov
Applying for affordable housing is notoriously unreliable though. The thought of actually getting one of these units can feel pretty hopeless if you pay any attention to statistics. Case in point: Recently, 59,000 applicants recently applied for a little over one hundred apartments in a Greenpoint complex.
Follow Sam Blum on Twitter @Blumnessmonster
[HT Am NY]
