PROSPECT HEIGHTS — You have another chance to snag a subsidized apartment in the Atlantic Yards/Pacific Park complex this week as the development’s third tower with affordable units enters the city’s housing lottery.
New Yorkers can apply for more than 300 rental units at 38 Sixth Ave. — a 23-story residential building now under construction behind the Barclays Center arena at Dean Street — starting Friday through the city’s affordable housing portal, the developer's representatives said.
Rents in the building vary by thousands of dollars depending on the yearly household income of the prospective tenant, the pre-lottery announcement from Greenland Forest City Partners says.
For households making between $20,126 and $42,040 per year, apartments start at $532 a month for a studio and go up to $796 for a three-bedroom, GFCP says.
On the higher end, households making between $74,606 and $173,415 will pay between $2,121 a month for a studio and $3,695 for a three-bedroom.
Half of the 303 units in the building are reserved for the highest income bracket, the lottery guidelines say. Only 14 of the 303 units are set aside for the lowest income bracket — households making between 30 and 40 percent of the area median income, or AMI.
READ: What is AMI? (INTERACTIVE)
But good luck getting an apartment at any income level. At the two other Pacific Park buildings with below-market units that have joined the affordable housing lottery this year — 461 Dean St. and 535 Carlton Ave. — the city received a total of 179,000 applicants for 479 apartments, the developer said.
That puts the acceptance rate in the complex at about two tenths of a percent.
READ: Here's How to Boost Your Odds of Scoring Affordable Housing
Applicants have 60 days to apply to 38 Sixth Ave. once the lottery opens, the requirements say. Fifty percent of the units will be given to residents currently living in the catchment areas of four community boards — 2, 3, 6 and 8 — encompassing Red Hook, Carroll Gardens, Cobble Hill, downtown Brooklyn, DUMBO, Fort Greene, Clinton Hill, Bedford-Stuyvesant, Crown Heights, Prospect Heights and Park Slope.
The Sixth Avenue building has been under construction since summer of 2015. GFCP expects the tower to be complete and ready for move-ins by this summer.
