Schaefer Landing tests affordable housing idea

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The Bloomberg administration is hoping New Yorkers who plunked down $700 a square foot or more for waterfront condos will be happy living adjacent to subsidized households paying a lot less. Schaefer Landing , thought to be the largest project in the nation that combines low-income rentals with higher-end condos, is expected to open on the Brooklyn waterfront by the end of the year. It will offer 140 subsidized rental units in one building and 210 condos in two adjacent towers. more [Sun]