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June 16, 2007
HDC Provides $320 Million For Affordable Housing, $76 Million for Brooklyn
Brooklyn Daily Eagle
Linda Collins
$320 million in financing would be used to build or preserve 2,285 affordable apartments in 36 buildings in the Bronx, Brooklyn, Manhattan and Queens.
Fun with math! $320 million for 2,285 apartments = approx. $140,043 per apartment. Ratner is asking $1.4 billion for 2,250 units. This is approx. $622,222 per apartment. They must all have subzero refrigerators or something...
Posted by amy at June 16, 2007 10:15 AM