PACC Spins Out Another Affordable Housing Project

The Pratt Area Community Council has launched the website for its latest affordable housing venture called The Gates Cooperative. Located at 566 Gates Avenue between Tompkins and Throop in Bed Stuy, the five-story brick building will have 34 units, mostly 2 bedrooms. Construction is not complete yet (four months to go apparently). Here's how the 34 units break down: 11 two-bedrooms at $87,000; 10 one-bedrooms at $150 000, and 13 two-bedrooms at $157 000. There is no difference at all in the 2-bedrooms, only who qualifies income-wise. The prices were determined by Area Median Income (some at 80% of AMI, some of 110%). Other restrictions: Half the units are reserved for Community Board 3 residents, and there'll be two information sessions, one on September 29th, one on October 23rd, both at the Restoration Corporation on Fulton Street. As usual, he units will go through a lottery. — Rachel Chang
186 Washington Avenue [Corcoran] GMAP

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