Odds getting worse: 70K apply for 38 non-market rate units

Williamsburg building located two blocks from McCarren Park

TRD New York /
Dec.December 30, 2014 12:15 PM

Upwards of 70,000 people applied for 38 affordable housing units in a Williamsburg building that’s located at 59 Frost Street.

The application period closed December 22 for apartments in the new, seven-story building, situated just two blocks from McCarren Park. Applicants’ odds will be even worse than the 60,000 who applied for 105 units at Nearby 1133 Manhattan Avenue earlier this year.

Dunn Development Corp. headed up the $12.9 million project, which should be ready for tenants to move in next year, according to DNAinfo.

Permits filed earlier this year also showed the Rabsky Group as a developer of the project.

“All of our housing lotteries receive a large response, but location tends to be a significant factor when we see those that are as heavily subscribed as 59 Frost Street,” the Department of Housing Preservation and Development said in a statement.

Rents in the building will start at $640 for a studio, $689 for a one-bedroom and $835 for a two-bedroom. A person with an income between $25,338  and $29,400 could qualify for a one-bedroom, while a household with an income between $30,412 and $33,600 could qualify for a two-bedroom. [DNAinfo] — Tess Hofmann

 

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