PACC Cuts Ribbon at 566 Gates Avenue


Yesterday, the Pratt Area Community Council, along with pols like Borough President Marty Markowitz (who kicked in $250,000 to the project) and Council Member Al Vann, cut the ribbon on the non-profit's latest affordable housing project at 566 Gates Avenue. The green development 24 two-bedroom and 10 one-bedroom apartments for low- and moderate-income households, with unit prices ranging from $87,000 to $167,000. “The Gates Cooperative is part of PACC’s larger effort to create affordable homeownership opportunities in Bedford-Stuyvesant and surrounding neighborhoods where real estate prices are beyond local residents’ reach,” stated PACC’s Housing Director Drew Kiriazides. The bulk of the financing came from HPD, HDC and New York State Affordable Housing Corporation.

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