200 units of affordable housing are coming to Downtown Brooklyn

Usually when we have a piece of real estate news for you, it’s not exactly something to celebrate. The rent is up! Landlords are racist! Your beloved neighborhood will be swallowed by the ocean and we can’t do anything about it! Not today though. Today we have what qualifies as good news for you, with the word that the first residential tower in Downtown Brooklyn’s City Point development is coming with 200 units of affordable housing and should be open by the end of the year, according to the Brooklyn Daily Eagle.

The first building going up at City Point, Tower 1, was originally going to be 50% affordable, with 125 out of its 250 apartments set aside for affordable housing. After the company putting the building up, Washington Square Partners, had a chat with the de Blasio administration though, developer Aron Gooblar told the Eagle  that they’d agree to make the building 80% affordable. That means 200 units of affordable housing for yutzes like you and us. Talking works, sometimes, we guess.

Even better for those of you (us) who lack patience, the building should start taking applications for the affordable housing right around the corner from Junior’s this summer, and should be ready to live in by the end of the year. As for the income band breakdowns, 20% of the units will go to people earning 40% of the area median income and the other 60% will go towards people making 130% of the AMI. The NYC Housing Development Corporation breaks down what that means for how much you can make to be eligible for the housing. Of course, if you are, you’ll still have the many, many, many, many, many, many, many other people who are going to compete with you in the lottery to live here.

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