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- OTTO, 211 McGuinness Boulevard: Upscale Greenpoint Rentals from $2,317/Month [LINK]
- Summit, 222 East 44th Street: Ultra Luxury Midtown East Rental Launches Leasing [LINK]
- 535 Carlton Avenue: Affordable Rentals at Pacific Park Offer 2 Months Free on Select 2 Bedrooms [LINK]
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535 Carlton Avenue
Photo of 535 Carlton Avenue, courtesy of Max Touhey for Greenland Forest City Partners
In July 2016, the lottery opened for 298 mixed-income rentals at 535 Carlton Avenue, part of the sprawling Pacific Park complex, in Brooklyn. But now, more than a year later, about 95 units remain vacant at the Prospect Heights site, as City Limits reported. Despite over 93,000 New Yorkers applying for the nearly 300 units within just eight weeks, the applicants were rejected because they did not make enough money to qualify for those specific units. The 95 vacancies, the most expensive apartments at Pacific Park, are reserved for households that earn between 135 and 165 percent of the area median income, which translates to $74,606 and $173,415 annually. Unable to secure tenants for this income bracket, developer Greenland Forest City Partners (GFCP) placed advertisements for the units on market-rate real estate websites.
Affordable housing lotteries fail low-income residents and favor middle-income earners, says new report, Thu, April 20, 2017
In every state and major city in the country, extremely low-income renters face a shortage of affordable housing. Although low-income applicants in New York City display a higher need for affordable housing, policies created by Mayor de Blasio and his administration continue to set aside more units for middle-income applicants. In a detailed report, City Limits analyzed affordable housing in Brooklyn and compared the need for affordable housing to the actual number of allotted low-income and middle-income units. For just one building, the tower at 535 Carlton, nearly 95,000 households entered the lottery for its “100 percent affordable” units. However, only 2,203 applicants were eligible for the 148 middle-income units, and over 67,000 households applied for the 90 low-income units. The data shows low-income households in search of affordable housing face much tougher odds than middle-income applicants.
It’s been almost two years since architects COOKFOX were selected by developer Greenland Forest City Partners to design two residential buildings at their Pacific Park Brooklyn project, the 22-acre site anchored by the Barclays Center and containing eight million square feet of mixed-use development. COOKFOX took the helm for 550 Vanderbilt Avenue, a 275-unit condo, and 535 Carlton Avenue, a 298-unit affordable rental. A housing lottery for the latter will open tomorrow, according to a press release, offering low, moderate and middle-income residents the chance to apply for apartments ranging from $548/month studios to $3,716/month three-bedrooms.
Greenland Forest City Partners Selects COOKFOX and Thomas Balsley for Pacific Park Brooklyn (Formerly Atlantic Yards), Mon, August 4, 2014
Forest City Ratner Companies and Greenland USA, a subsidiary of Shanghai-based Greenland Group, announced today that their new joint venture, Greenland Forest City Partners, has selected COOKFOX Architects to design two residential buildings at their Pacific Park Brooklyn project. They’ve also chosen Thomas Balsley Associates to design the site’s eight-acre public park, which will be called Pacific Park.
Formerly known as Atlantic Yards, Pacific Park Brooklyn will be a 22-acre site anchored by the Barclays Center and containing 8 million square feet of mixed-use development. The public park will be revealed in phases, with permanent and temporary installations. COOKFOX has begun the design for its two residential buildings– 550 Vanderbilt Avenue, set to feature 275 condominiums, and 535 Carlton Avenue, which will have approximately 300 affordable rentals. Construction is expected to begin on the latter this December, with 550 Vanderbilt not far behind. A third residential building will be designed by SHoP Architects, who were the minds behind the Barclays Center, at 30 Sixth Avenue with another 300 affordable rentals.