Thursday, April 16, 2015

If LIC is a template, should we expect "value priced rent stabilized" Atlantic Yards apartments?

I wrote last November how the developers of affordable housing at Hunters Point South in Long Island City resorted to advertising "the best apartment deal in New York" and sending a street team out to recruit applicants for the "affordable" middle-income housing.

(They were inundated with applications--more than 92,000 for 924 units--but I suspect a large majority sought the low-income housing. Those reporting on the issue should suss this out. When I asked last year, I didn't get an answer.)

While the housing is below market for new construction in the Long Island City waterfront neighborhood, it's hardly cheap. It was last year advertised as costing up to $2,509 for a one-bedroom and $3,300 for a two-bedroom.

Perhaps, as shown in the photos below (which I took earlier this week), that's why they seem to have added a phrase: "value priced rent stabilized apartments."

Could such phrasing be in store for Atlantic Yards/Pacific Park Brooklyn?

(Note that in LIC, there's a truly public park across the street--actually, a state park and city park that nudge up against each other--as opposed to privately-managed interior space, as in "Pacific Park Brooklyn.")

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