Forest City: "100% affordable" building skewed toward six-figure earners fits "vision for all of Pacific Park"
I wrote 4/7/15 how B3, which will break ground in June, will include 303 subsidized, below-market units, but most two-bedroom units will cost over $3,000, and well over half the units will go to households earning more than $100,000. Instead
|AYR estimates; note that chart shown at meeting had lower 2014 AMI and cited 152 units in Band 5|
|Planned configuration in B3 and B14, the two new all-affordable towers|
But Cotton stuck to her guns.
“This is obviously a very mixed income building, which is frankly the vision for all of Pacific Park," responded Cotton. "So it fits into that vision well."
Promises and changes
By contrast, the Final Supplemental Environmental Impact Statement (Final SEIS), issued by Empire State Development last June, assumed that the income range in the affordable housing would follow those long used in the ACORN agreement--with low-income bands maxing at 50%, and middle income bands at 160%--rather than the higher figure already agreed to by city officials last May regarding the next two towers.