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Affordable Housing Building Invites People Making $99,825 Per Year to Apply

 City Point in Downtown Brooklyn will consist of three towers. Tower 1 will be 80 percent affordable.
City Point in Downtown Brooklyn will consist of three towers. Tower 1 will be 80 percent affordable.
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Housing Connect

DOWNTOWN BROOKLYN — Dozens of affordable apartments are up for grabs in downtown Brooklyn — affordable for some, at least.

The lottery for spots at downtown Brooklyn apartment tower City Point 1 opened last week. The majority of those available, 150 of the building's 200 affordable units, will be set aside for people making up to 165 percent of the area median income, or $142,395 for a family of four.

The AMI, which is determined based on the entire New York City region, was $86,300 for a family of four this year, according to the city's Housing Development Corporation.

Brooklyn's median income in 2013 was $46,085, according to the Census Bureau.

The remaining 50 affordable units in the building are for those making under 50 percent of the area median income, HDC said.

The 250-unit building will offer 76 studio apartments under its affordable housing offering, with two $500 per month studios for individuals who make no more than $24,000 a year. There are also more than a dozen studios that cost $651 a month for those who make no more than $30,000 a year. The remaining affordable studios cost $1,621 a month and will be open to those making up to $99,825, according to the HDC ad.

For one-bedrooms, the rents range from $538 to $2,038 per month, while two-bedrooms range from $868 to $2,455 per month.

Current market rate apartments in Downtown Brooklyn go for an average of $2,808 per month for studios to $4,623 for two-bedrooms, according to MNS.

While City Point Tower 1 will be 80 percent affordable, according to the Brooklyn Eagle, City Point Tower 2 will be entirely market rate.

Developer Extell recently picked up the rights to build Tower 3, which will be Brooklyn's tallest, from City Point owners Washington Square Partners and Acadia Realty Trust.

Applications will be accepted through September 24, according to the city's Housing Connect website. Hopefuls can apply online for one of 200 apartments in the building. Residents of Brooklyn's Community Board 2 get a preference in the lottery.

Neither Washington Square Partners, Acadia Realty Trust, nor the city's Housing Development Corporation responded to requests for comment.