An affordable housing lottery has been announced at 876 Bergen St. in Crown Heights for five newly constructed units. The deadline to apply for this new Crown Heights housing lottery is Feb. 28, 2018.
Winners of the lottery will get a 1-bedroom unit for $2,415 a month, but, curiously, 1-bedroom market-rate rentals are currently renting for less. Here’s one for $2,200. Of course, there’s no accounting for rent fluctuations on market-rate units in the future, whereas lottery rental prices will remain relatively stable for years to come.
To qualify, applicants must make 130 percent of the area median income. For one person, that means an annual household income of $85,269 to $86,840; for a household of two people, the income range is $85,269 to $99,320. See details below.
The deadline to apply is Feb. 28, 2018.
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