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Old 10-01-2018, 01:58 PM
 
Location: Mott Haven, New York
907 posts, read 652,826 times
Reputation: 787

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This is the largest lottery, EVER. The second largest being 605 West 42nd Street that offered 235 units. And look what happened with that, they turned it into a "Phase II" development, scrapped 60% AMI completely, and replaced it with 40% and 120%.

Honestly, it should've been that way in the beginning. There's no way in Hell they're gonna fill all these up. It should've been a spread of 40%, 60%, 80%, 100%, 120% and some 130%.

In a few more years, 60% AMI is gonna be $50,000 to qualify with the way the ranges have been going up. It jumped from $38,100 to $43,800 in just two years. 40% is now the new frat house. Haha
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Old 10-01-2018, 02:01 PM
 
679 posts, read 304,772 times
Reputation: 749
I thought they stopped doing CB preference on these lotteries?
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Old 10-01-2018, 02:04 PM
 
7,750 posts, read 5,049,445 times
Reputation: 8807
Quote:
Originally Posted by shadypinesma View Post
I thought they stopped doing CB preference on these lotteries?
A good portion of these apts will go to relatives of the well off that are playing the system.

Preference for a percentage of units goes to:
o Residents of Manhattan Community Board 7 (50%)*
o Municipal employees (5%)
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Old 10-01-2018, 02:52 PM
 
110 posts, read 78,612 times
Reputation: 27
just found out that of the 50% of units reserved for CB preference (148) up to half (74) go to homeless referrals.
No wonder I've seen so many floating around the area now, they know whats up lol
Not sure how they pay rent, but whatever..
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Old 10-01-2018, 03:22 PM
 
1,210 posts, read 1,266,471 times
Reputation: 255
The CB preference was discontinued for new developments, but the affordable regulatory agreements for these buildings were signed before the CB preference was discontinued.


Also, I do agree that it's ridiculous that there are so many apartments and they can only go to people making 60% AMI. They can and should have spread it out more.


The reason there are so many units is because it is 3 high rises all going up at once.
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Old 10-02-2018, 08:01 AM
 
201 posts, read 232,890 times
Reputation: 18
Quote:
Originally Posted by RadeonHD4250 View Post
This is the largest lottery, EVER. The second largest being 605 West 42nd Street that offered 235 units. And look what happened with that, they turned it into a "Phase II" development, scrapped 60% AMI completely, and replaced it with 40% and 120%.

Honestly, it should've been that way in the beginning. There's no way in Hell they're gonna fill all these up. It should've been a spread of 40%, 60%, 80%, 100%, 120% and some 130%.

In a few more years, 60% AMI is gonna be $50,000 to qualify with the way the ranges have been going up. It jumped from $38,100 to $43,800 in just two years. 40% is now the new frat house. Haha
i agree with you, even though i do fit in 60%.. I THANK GOD I DO! it's like they're raising AMI's but they are not raising pays.. seems to me as if they want to get rid of people which was always the plan. it's mind blown how they conduct these lotteries. before it was they go by log number NOW they're "randomly selected". bullsh*t
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Old 10-02-2018, 09:28 AM
 
192 posts, read 98,330 times
Reputation: 195
I am applying even though I am a bit off the 60%, but you never know!
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Old 10-02-2018, 09:36 AM
 
149 posts, read 120,896 times
Reputation: 24
Quote:
Originally Posted by NeedThatApt View Post
I am applying even though I am a bit off the 60%, but you never know!
Same here. If we are lucky the 2019 Ami will be higher if they start the process around March/April when the numbers are out.
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Old 10-04-2018, 09:06 AM
PQM
 
Location: Brooklyn
93 posts, read 164,692 times
Reputation: 45
Default Waterline Square Launches Affordable Lottery

Waterline Square Nears Completion and Launches Affordable Lottery: See New Photos and Time-Lapse Video






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Old 10-04-2018, 09:18 AM
 
184 posts, read 162,128 times
Reputation: 103
nothing for the 100+ people
always the 40 and 60
or 130
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