Affordable thresholds

And yet I have clients who make more than 165% AMI who feel that they "can't" pay market rates for a three-bedroom. Part of the problem is schools; you start out in a one-bedroom, putting the first kid in a fake room, and then if the second kid is of a different gender, when they get big enough, you really do want a three-bedroom, but at that point the kids have been in one school system for many years and you don't want to dislocate them into a different school system.

@stache - thank you for the article and raising my awareness of a local news source:
amNY.com is the leading news site in Manhattan and New York City focused on local news and events.

amNY is powered by the journalists at the award-winning amNY Metro, Downtown Express, The Villager, Chelsea Now and Manhattan Express newspapers. Our print newspapers are the most widely circulated covering the entire borough of Manhattan and City of New York.

amNY provides the latest and most interesting information about New York City – be it breaking news, transportation, healthcare, politics and education, or dining, nightlife, real estate and getting around. Our journalists’ award-winning work is complemented by real estate listings, the Home Pros directory, Best of the City and other interactive content. We are on Instagram, Facebook, Twitter and other social channels, and we have a popular daily newsletter.

It's usually available at (not all) subway entrances. I will pick it up if I anticipate an especially long transit ride etc. I do the crossword puzzles to invigorate my remaining brain cells.

https://www.6sqft.com/nearly-100-middle-income-units-sit-vacant-at-brooklyns-pacific-park-development/

What are the economics of this particular building? Who did they build it for and why?

@30: Any update on these units, since your link was from 2017?

@ Krolik: Forest City Ratner, working with Empire State Development Corp, as part of the Atlantic Yards project to turn the disaster of that part of downtown Brooklyn into something attractive. Now includes Barclays Center. The jury may still be out on the degree of improvement. (I used to live near there.)

I stopped reading the article 30yrs posted once the reporter established they did not have a functioning brain:

“reserved for households that earn between 135 and 165 percent of the area median income, which translates to $74,606 and $173,415 annually”

@inonada

actually... this might make sense to you if you look at the lottery website

AMI differs by family size so the reporter is likely giving you the range from 135% of AMI for one person to 165% for 4 or 5 people.

The way things work is dumb, but likely not the reporter's fault.

Then I fault the reporter with not adding “depending on the applicants’ household size” to the end of the sentence. The only thing worse than a reporter lacking an understanding of basic math is one lacking an understanding of unambiguous language. You, on the other hand, win my investigative journalism award. Thank you.

Agreed. Overall, the article left me with more questions than answers ...

Oh, there is SOOO much.
https://therealdeal.com/new-york/2025/01/31/related-companies-backs-out-of-pacific-park/

https://therealdeal.com/magazine/new-york-april-2018/the-dismantling-of-forest-city-ratner/

https://normanoder.substack.com/p/weekly-digest-sketchy-eminent-domain

These are in random order. The story of multigenerational homeowners being displaced by eminent domain for the benefit of a Russian Oligarch is just the start.

https://en.m.wikipedia.org/wiki/Barclays_Center

https://www.6sqft.com/After-20-years-Pacific-Park-faces-foreclosure-and-an-uncertain-future/

https://www.mingtiandi.com/real-estate/outbound-investment/greenland-sells-off-three-sites-in-5b-nyc-mega-project-as-us-retreat-continues/

https://www.bisnow.com/new-york/news/capital-markets/pacific-park-co-developer-downgraded-to-below-junk-status-113244

https://nypost.com/2018/01/16/pacific-park-gets-much-needed-boost-from-ownership-overhaul/

Want more?

ofc!

There's a very good documentary about Atlantic Yards. Can't recall the title.