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$548 Studios Available in New Atlantic Yards/Pacific Park Tower

By Rachel Holliday Smith | July 15, 2016 1:02pm | Updated on July 18, 2016 8:14am
 The 18-story affordable apartment building at 535 Carlton Ave. is still under construction in Prospect Heights.
The 18-story affordable apartment building at 535 Carlton Ave. is still under construction in Prospect Heights.
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DNAinfo/Rachel Holliday Smith

PROSPECT HEIGHTS — The lottery to live in Pacific Park’s first all-affordable tower is now open.

Nearly 300 units are up for grabs in the Prospect Heights building, the first constructed in the 22-acre Pacific Park (formerly Atlantic Yards) development containing 100 percent affordable apartments. Its developers, Greenland Forest City Partners, agreed to build a total of 2,250 affordable units in the complex, required by the state to be completed by 2025.

Rental prices in the 18-story residential building at 535 Carlton Ave. range widely. Prices start at just $548 a month for a studio (for tenants making between $20,126 and $25,400 a year) and cap out at $3,716 for a three-bedroom apartment for families making up to $173,415, according to the city-run lottery requirements posted Friday.

Income requirements for tenants and rent at the building are set by New York’s Area Median Income, or AMI, a figure determined by the federal Department of Housing and Development.

► INTERACTIVE: What is AMI?

All future tenants of 535 Carlton Ave. will be required to make between 30 and 165 percent of AMI, the developers said, a big range that sets rent at vastly different prices, depending on income and family size.

For example, a two-bedroom in the tower will cost $713 a month for low-income families making less than $36,240, the lottery guidelines say. But on the high end of the income range, a two-bedroom for households making between $111,909 and $149,490 will cost $3,223 per month.

A rendering of a living room in 535 Carlton Ave., an all-affordable apartment building in the Atlantic Yards/Pacific Park complex in Prospect Heights. (Image credit: COOKFOX)

Preference for half of the building’s 297 units will be given to residents of neighboring Community Boards 2, 3, 6 and 8, the lottery posting said, including the neighborhoods of Fort Greene, Bedford-Stuyvesant, Prospect Heights, Crown Heights, Park Slope, Gowanus and Red Hook.

A small percentage of apartments will be set aside for physically disabled tenants or those with hearing or vision disabilities, the posting said.

The deadline to apply for the building’s housing lottery is Sept. 15. Applicants can apply through the online NYC Housing Connect system or by mail.

Work on 535 Carlton Ave., begun in December of 2014, is still underway at the corner of Dean Street in Prospect Heights. Developers say the building is set to open by the end of 2016.

Apartments in the Carlton Avenue building are not the first affordable units to come online in the Pacific Park complex. Earlier this spring, the public lottery opened for 181 affordable apartments in 461 Dean St., a partially market-rate building next to the Barclays Center built by Forest City Ratner Companies as part of the Brooklyn mega-development.