OTL Enterprises

Downtown Brooklyn, housing lotteries

Rendering courtesy of CetraRuddy

A housing lottery opened this week for 55 middle-income units at a new residential development in Downtown Brooklyn. Located at 22 Chapel Street, the 20-story tower offers its residents a prime location at the intersection of Brooklyn Heights, Dumbo, Fort Greene Park, Boerum Hill, Barclays Center, and the heart of Downtown Brooklyn. New Yorkers earning 130 percent of the area median income, or between $79,098 for two people and $215,150 for a household of seven, are eligible to apply for the apartments, which range from $2,307/month studios to $3,431/month three bedrooms.

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Cobble Hill, condos, Construction Update, New Developments

Columbia Street Waterfront District, Broolyn condos, affordable housing, East River, Bricolage

Avery Hall Investments and co-developer OTL Enterprises are forging ahead with the development of pair of understated five-story condominium buildings at 161-163 Columbia Street in Cobble Hill‘s Columbia Street Waterfront District. The team picked up the lots in 2014 through a unique deal with the nonprofit Carroll Gardens Association where proceeds of the sale would be used to preserve below-market rate rents for 28 units on the street and possibly develop 70 more affordable units in nearby Red Hook.

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