From Bklyner: "Will All 258 “Affordable” Units at Largest Pacific Park Tower Go to the Better-Off?"

I have an article in Bklyner, headlined Will All 258 “Affordable” Units at Largest Pacific Park Tower Go to the Better-Off?

18 Sixth Ave. (l.) from presentation

 The lead:

The largest building so far in Pacific Park Brooklyn, slated to open later this year, is set to deliver 258 affordable units (30%) out of 860 total–but seemingly all for middle-income households, many earning six figures.

A studio could rent for $2,155, a one-bedroom for $2,700, and a two-bedroom for $3,235, according to 2020 city guidelines.

Those income-targeted apartments, next to the Barclays Center in the 51-story 18 Sixth Avenue, will be aimed at households earning 130% of Area Median Income (AMI), according to a lender for the project.

Presented with the lender’s publicly stated information, however, a spokesperson for developer Greenland Forest City Partners said, “AMI and rent levels have yet to be confirmed.”

Below is the disclosure by the lender, which has not been updated, though presumably the developer has had the opportunity to nudge the lender since March 5, when they sent the statement quoted above.

For the rest of the article, including some interesting numbers on the range of rents for middle-income units, go to Bklyner.