The New York City Department of Housing Preservation & Development has issued a handy income guide to let people know what "band" of affordable housing, under 2018 income levels, for which they might be eligible.
The key for Atlantic Yards/Pacific Park watchers is that half the units in the two "100% affordable" buildings, 535 Carlton and 38 Sixth, are in an upper middle-income band that represents part--but not all--of the yellow segment at right. (There's also another middle-income band with a somewhat more modest range of incomes.)
Note that most of the units at 535 Carlton and 38 Sixth have already been filled, under somewhat more modest 2016 and 2017 income guidelines, when 100% of Area Median Income (AMI) for a four-person household was $90,600 and $95,400.
Now AMI is $104,300, as wealthier suburbs raise the median, so 165% of AMI pushes to the far end of the chart.
These numbers don't have any connection to the people who rallied for affordable housing, which is why the middle-income units have been tough to fill; the developer is offering two months free on some leases. And provoking skepticism.
The key for Atlantic Yards/Pacific Park watchers is that half the units in the two "100% affordable" buildings, 535 Carlton and 38 Sixth, are in an upper middle-income band that represents part--but not all--of the yellow segment at right. (There's also another middle-income band with a somewhat more modest range of incomes.)
Note that most of the units at 535 Carlton and 38 Sixth have already been filled, under somewhat more modest 2016 and 2017 income guidelines, when 100% of Area Median Income (AMI) for a four-person household was $90,600 and $95,400.
Now AMI is $104,300, as wealthier suburbs raise the median, so 165% of AMI pushes to the far end of the chart.
These numbers don't have any connection to the people who rallied for affordable housing, which is why the middle-income units have been tough to fill; the developer is offering two months free on some leases. And provoking skepticism.
Indeed. Better 2use more precise phrase like "income-linked" or "below-market."— Norman Oder (@AYReport) August 11, 2018
"Affordable" is distorted by 1) very high Area Median Income (AMI), which is an artifact of including rich suburbs 2) the % applied to that base--in this case 165% https://t.co/TJTmZGowv3 @MosesNYC
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