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September 27, 2008
In tale of Giuliani influence, insight into the flexibility in size of affordable housing units
Atlantic Yards Report does the math behind the mysterious sizing of affordable housing units - an equation that involves Giuliani, a felon running the HDC, and Judith Nathan:
Harding's tale involves the 80/20 program, involving 80% market-rate units and 20% low-income units, which more closely resembles Forest City Ratner's project at 80 DeKalb Avenue, rather than the Atlantic Yards project, for which the rental towers--though not the ones containing condos--would contain 50% market-rate, 30% middle- or moderate-income units, and 20% low-income units.As I wrote, though the state Housing Finance Agency requires that 20% of the units be affordable, it requires that only 18% of the floor area be devoted to those units, thus allowing for somewhat smaller units. For 80 DeKalb, FCR plans to devote 18.6% of the floor area to affordable units.
For an earlier incarnation of Atlantic Yards, as I wrote 7/15/06, the affordable units, at an average of 675 square feet, would represent about 33% of the total number of units but only 22% of the housing square footage. Now, the 2250 units would represent 35% of the 6430 total units, and, at 675 sf, they'd represent about 24% of the 6.79 million square feet of housing.
Posted by amy at September 27, 2008 11:29 AM