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November 13, 2008

Willets Point affordable housing offers more moderate-income housing than AY

Atlantic Yards Report

While similar in percentages to the Atlantic Yards affordable housing deal, the Willets Point plan emphasizes housing for low- and moderate-income families, while the Atlantic Yards plan offers a wider range of units, including those aimed at middle income families earning more than six figures.

The Times reported:
The deal requires that 35 percent of the project’s 5,500 housing units be set aside for families who make less than $99,840 a year, or 130 percent of the city’s median income of $76,800. The original plan reserved just 20 percent of the units for families of those income levels.

It's hardly clear, as with Atlantic Yards, whether there are bonds and other public funding mechanisms to fulfill the affordable housing promises.

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Posted by eric at November 13, 2008 2:21 PM