Two Affordable Projects in Brooklyn Salvaged by State


Market-rate condos and brownstones aren't the only housing threatened by the economic downturn—a decline in the value of Low Income Housing Tax Credits has meant trouble for affordable projects. At least two such projects, though—a 59-unit development in Bushwick call Rheingold Heights II and the 72-unit Domenech Senior Housing in Brownsville—have been preserved by special emergency funding from the New York State, reports the Brooklyn Eagle; an addition 13 projects around the state were also saved.

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