Read Property looking to build 1,000-unit complex in Bushwick, but faces pushback from community
Brooklyn-based Read Property Group is looking to build a 10-building complex on Bushwick’s Flushing Avenue, but is facing community opposition over concerns of affordable housing, the New York Daily News reported.
The buildings are slated to be eight stories tall and will include 977 rental apartments and 54,000 square feet of ground floor retail space. The project is expected to be completed in 2016.
But Community Board 4 has delayed its approval until Read offers up more details about the project’s affordable housing component. Just 24 percent of the apartments, or 242 units, would be geared toward low-income residents, who must earn no more than 60 percent of the area’s median income.
“If you bring in wealthier people to the area, then the people applying to the low-income housing are going to have to make more and more money,” one resident said during Wednesday’s meeting attended by the Daily News. [NYDN] – Hiten Samtani