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August 1, 2006
The Debate Over "Affordability"
The Real Estate Observer notes that the affordable housing portion of the Atlantic Yards proposal falls short of Mayor Bloomberg's goals, announced yesterday.
But the Mayor today indicated that the city had different priorities: the majority of that trust fund--$70 million--is going to "hard to reach populations," including the very poor (those earning less than 30 percent of the median, who will not be served at all by Atlantic Yards), and households with moderate income (earning 60 to 80 percent of the median, who will receive just about 10 percent of the 2,250 affordable units at Atlantic Yards).
Posted by lumi at August 1, 2006 9:51 AM