531 Montauk Highway

affordable housing, Hamptons

531 montauk highway

Image via Loopnet

A new plan to bring affordable housing to one of the Hampton’s priciest stretches has residents up in arms, reports The Post. The town of Amagansett is planning to erect a below-market rate complex that would add 12 two-bedroom and 12 three-bedroom homes to the area, with rents ranging from just $1,100 up to $2,300 a month. The development would mingle with the estates and New York City escapes of the rich and famous, including that of Naomi Watts, Jerry Seinfeld, Gwenyth Paltrow and Scarlett Johansson—just to hame a few. Incredibly, a family of four could be earning as much as $106,200 annually (120 percent of the AMI) to qualify.

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