Thursday, July 14, 2016

Spoon-fed Metro: 535 Carlton "not just for low-income New Yorkers" (ya think?)

So the free tabloid Metro tells us Lottery for new Barclays-adjacent affordable-housing building set for Friday, with the sub-heading "535 Carlton’s developers emphasized that the upcoming lottery is not just for low-income New Yorkers."

Ya think? It's mostly for households earning six figures or more! I made this chart regarding both 535 Carlton and the parallel 38 Sixth Avenue, so cut the numbers in half for 535 Carlton:

The AMI in 2015 was $86,300 and the AMI in 2016 is $90,600. So the numbers are higher.

(Oh, and Carlton Avenue is one long block from the arena.)

The article begins:
A building scheduled to open later this year in Prospect Heights’ Pacific Park development will offer potential residents a shot at a bargain price in an upcoming affordable housing lottery.
Well, affordable housing means "income linked," in which residents pay 30% of their income. A $3000+ two-bedroom unit may be a bargain in the local context, but it's hardly what people were marching for.

The article continues:
Greenland Forest City Partners, the developers of 535 Carlton Ave., have announced that a housing lottery set to start on Friday will give low- and moderate-income New Yorkers a chance to live in the building, which is part of the Barclays Center-adjacent development.
Well, that's a strategic press release, since the building is mostly for middle-income households.

The article continues:
The 18-story, all-affordable building includes 298 rental apartments ranging from studios to three-bedroom units, Greenland Forest City Partners stated, adding that the building was designed for families as it has 102 units with two bedrooms or more.
Well, not sure that means "designed for families." It means "designed to include families."

The article continues:
The below-market rents will adhere to the New York City Department of Housing Preservation and Development guidelines and will be based on area median income (AMI) when the lottery begins, according to the developer. Studios were slated to rent for as low as $548 per month while a three-bedroom could be as low as $817 per month.
And why exactly can't they print a chart showing the full range of rents? Most units won't come close to those numbers. A three-bedroom will rent for well over $3,000.

The article continues:
Located at the corner of Carlton Avenue and Dean Street, the new building is one of seven planned towers currently in development at the 22-acre Pacific Park development, which will ultimately include 2,250 affordable units by 2025, DNAinfo stated.
No, seven towers are not in development. Four are under construction or finishing up, and three are kind of pending.

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