East New York development geared to low-income tenants breaks ground
Work is underway on the construction of a 218-unit East New York rental-apartment building where four-fifths of the units will be affordable for extremely low-income, very low-income or low-income tenants.
Thirty percent of the units will be set aside for those with an annual income of $22,410 or lower as individuals (or $32,010 for a family of four).
“East New York is a deeply disadvantaged neighborhood in terms of its access to affordable housing,” developer Dylan Salmons of Pennrose LLC told the Brooklyn Eagle on Tuesday after a groundbreaking ceremony at the project site.
“We designed the project in direct response to the needs of the neighborhood population,” Salmons said. “It will be affordable to people who live here now.”
Demolition work started last spring at the site at 50 Pennsylvania Ave., which has frontage on Pennsylvania Avenue, Fulton Street and Sheffield Avenue and is located next to the J train’s overhead tracks. Salmons expects construction to be completed in July 2021.
The development aims to fulfill one of the goals of East New York’s 2016 rezoning, which is the creation of new affordable housing.
In Community District 5, which includes all areas of East New York, 29.8 percent of the residents have incomes below the city’s poverty threshold, according to data from the Department of City Planning. In contrast, 17.3 percent of residents citywide live below the poverty line.
At 50 Pennsylvania Ave., there will be 42 apartments for extremely low-income or elderly tenants who are formerly homeless or at risk of becoming homeless, Salmons said. Supportive services for the elderly residents will be provided by RiseBoro Community Partnership, which will also be the property’s property manager.
Another 22 apartments will be for extremely low-income people who earn 30 percent of AMI or less and are not special-needs tenants, Salmons said.
According to the U.S. Department of Housing and Urban Development, extremely low-income residents earn 30 percent or less of the New York City Area Median Income. That’s $22,410 per year or less for an individual or $32,010 for a family of four.
Thirty-three apartments at the site will be rented to tenants earning 40 percent of AMI, which means very low-income residents, he said. That means a single person earns $29,880 per year and a family of four earns $42,680.
Thirty-three units will be earmarked for tenants earning 50 percent of AMI, which also falls within the very low-income category. At this AMI level, an individual makes $37,350 annually and a family of four makes $53,350.
Forty-four apartments are for residents at 60 percent AMI, he said, which falls into the category of low-income tenants. Individuals at this AMI level earn $44,820 per year and families of four earn $64,020.
The development’s remaining 43 units are for tenants that earn up to 80 percent of AMI, which is an affordable-housing category known as moderate-income. At this AMI level, individuals make as much as $59,760 annually and a family of four makes $85,360.
As for the retail space, Pennrose is offering discounted rents for two storefronts so local merchants will be able to afford them. There will also be a grocery store on the ground floor.
The developer is building the apartment project on privately owned land that it is leasing for 99 years, city Finance Department records indicate.
The building was designed by Dattner Architects.
Follow reporter Lore Croghan on Twitter.
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