Thursday, April 3, 2014

Only 5 Affordable Devpts in Bklyn in 4 years (but lots of tax subsidies)

THE REAL DEAL  (and see the NY Daily News)

Brooklyn affordability study calls for more below-market units

Jaron Benjamin of Met Council
Only 6% of the nearly 4,440 units built were affordable for low and moderate-income households
April 03, 2014 12:20PM
Only five apartment buildings built in Brooklyn between 2008 and 2012 included below-market-rate units, according to a new report from an affordable housing advocacy group.
In those five years, 61 buildings built in the borough will receive a total of $158 million in tax breaks, according to the report, released today by the Real Affordability for All Campaign. Only six percent of the nearly 4,440 units built were affordable for low- and moderate-income households.