Coming soon(ish) to Greenpoint Landing: $400/month apartments

If you lived here, you'd be home by now. And it would be 2016. And you'd be able to afford it. via Greenpoint Landing Associates

If you lived here, you’d be home by now. And it would be 2016. And you’d be able to afford it. via Greenpoint Landing Associates

Greenpoint Landing, the multi-tower development coming to Greenpoint that’s so big they had to name it like a new neighborhood, is definitely coming to Greenpoint, whether you’re ready for it or not. The project wasn’t all that popular when it was announced, so now there’s a sweetener to the development, with some front-loaded affordable housing on the first buildings going up, according to DNA Info. So on the one hand, you’re getting those big towers, but on the other hand, there are going to be $400 and $500/month apartments ready for you by 2017. 

While the entirety of Greenpoint Landing is made up of a 5,500-unit development that will have 1,400 affordable units included in it, Greenpoint Landing Associates, the developers behind the project, announced Friday that almost 300 of those units will be included in the first three buildings going up.

The first building, 21 Commercial Street, will have 93 affordable units and be available to people making 40 to 60 percent of the area median income ($34,520 – $51,780 for a family of four) and is supposed to open in early 2016. There’s also going to be a fully-affordable building at 33 Eagle Street opening some time next year, with 98 units of housing that anyone making 40 to 120 percent of the AMI are eligible for, and in 2017 a building at 5 Blue Slip with 103 affordable apartments open to people making 30 to 60 percent of the AMI will open.

While rents will ultimately depend on which income band you’re in, developers told DNA Info that they could start as low as $400/month. So, something to look forward to, kind of, provided you can win that dang housing lottery. And provided, of course, that President Trump hasn’t started an apocalyptic nuclear war with Mexico by then.

Sign up for our weekly email. It won’t make you rich like a lottery, but it’s free-er than one, too