Having settled a nearly decade-long court battle, the city is now seeking developers for the contentious Broadway Triangle sites.
The Department of Housing Preservation and Development on Friday issued a request for proposals to develop the Broadway Triangle, three sites located where Williamsburg, Bedford-Stuyvesant and Bushwick converge, Politico reported. The sites span 70,000 square feet.
Apartments built on the property must qualify for the city’s Extremely Low and Low-Income Affordability Program, which provides subsidies of $130,000 to $150,000 per home. Under the program, developers must set aside at least 70 percent of the apartments for tenants earning no more than 60 percent of the area median income. At least 10 percent of those units must also be reserved for formerly homeless people.
[Politico] — Kathryn Brenzel