Professional Documents
Culture Documents
Affordable Housing PowerPoint
Affordable Housing PowerPoint
Affordable Housing PowerPoint
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A $3.5B Redevelopment Project
on a 22-Acre Site
6,860 Total Residential Units in a Mixed-Use Development
- 4,500 Rental Units and 2,360 Condos
50% of Rental Housing (2,250 units) to be Affordable to Low, Moderate
and Middle Income Families
Development Centered Around City’s 3rd Largest Transportation Hub
New Sports Arena for Nets Professional Basketball Team
7+ Acres of New, Public Open Space
MTA Transit Improvements
Historic Community Benefits Agreement
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General Project Plan
Atlantic Yards
Arena: 850,000 ZSF
Office: 1.9 M ZSF
Residential: 5.5 M ZSF (6,000 Units)
Retail: 227,000 ZSF
Open Space: 7.4 Acres
Arena Office Hotel Residential Open Space Retail (in base of buildings)
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Quality Residential Buildings
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7 Acres of Open Space
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Neighborhood Retail
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FCRC/ACORN Affordable Housing Program
1. Affordable apartments will be available for a wide range of family incomes (low, moderate, middle).
5. Affordable rental units are leased through a lottery that is overseen by the City
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Creating Mixed-Income Buildings
– 20% Low-Income
(families earning between $21,270 to $35,450* based on a family of four)
*Incomes subject to change. Income ranges are based on the NYC Area Median Income (AMI). The
AMI is set by the U.S. Dept. of Housing and Urban Development.
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Affordable Housing Income Bands
Number of
Affordable Minimum and Maximum Income for
AMI Income Housing Units – a Family of 4
Income Bands* Range 2,250 Total
Minimum Maximum
*Note: Income bands are based on the NYC Area Median Income (AMI). The AMI is set by the U.S. Dept. of
Housing and Urban Development. As of April 7, 2006, AMI is $70,900 for a family of four.
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Example - Band 1
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Example - Band 2
• Mr. Martinez is a transit worker, and his wife takes care of their two
sons.
• Their annual income is $31,905 (45% AMI).
• Their income and family size place the Martinez family in Band 2 (41-
50% of AMI).
• The Band 2 monthly rent for a 2-bedroom apartment would be $797, or
approximately 30% of their monthly income.
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Example - Band 3
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Example - Band 4
• Mr. and Mrs. James are teachers, and they live with their two children.
• Their annual income is $85,080 (120% AMI).
• Their income and family size place the James family in Band 4
(101- 140% of AMI).
• The Band 4 monthly rent for a 2-bedroom apartment would be $2,127,
or approximately 30% of their monthly income.
Image to come
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Example - Band 5
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Timeline
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