Why Do You Apply for Housing Connect? (apartments, rentals)
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Is it higher income folks who use Housing Connect instead of Mitchell Lama? Every time I look at a Housing Connect lottery, a 1 bedroom is like $2,700 or some crazy expensive (imo) amount. Maybe you guys just earn more than folks who look for the Mitchell Lama lottos? Just curious.
You're right. The higher lottery brackets are not a great deal. Plus, people who earn that much money have other housing choices. That's why my landlord can't find people to fill the high-bracket apartments.
But developers are calling the shots, and the city has to go along.
Mitchell Lama is very limited. It is a defunct program. There are no new ML buildings being built.
The way the law was originally written, back in the ’60s and ’70s, buildings could leave the program after a set amount of time, I think it was 30 years. And they began bailing in droves. In co-ops, the people living in those apartments wanted to cash in. And landlords who owned rentals also wanted to cash in.
So what you're seeing today in ML is the buildings who resisted the market pressures and were able to stay affordable.
Is it higher income folks who use Housing Connect instead of Mitchell Lama? Every time I look at a Housing Connect lottery, a 1 bedroom is like $2,700 or some crazy expensive (imo) amount. Maybe you guys just earn more than folks who look for the Mitchell Lama lottos? Just curious.
Because I'd rather pay 2700 for a brand new lottery apartment than pay the same price for a 200 year old tenement with mice and roaches!
Luxury unit, high floor, dead silent, good neighbors, 3 rooftops (technically, one behind the gym), a gym (lol), 2 lounges, doorman. My studio is bigger than most of the tenement 1bds in the Lower East Side and I don't have pests yet it costs about the same. Plus it's rent stabilized, which might work against us right now, but when rents surge again, we good.
Also, buying a similar apartment is severely out of the question.
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