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Smells like savings! How to apply for below-market units in new Canal-side building

Waterfront views: You can live in one of the 86 below-market units in the Lightstone Group’s Canal-side development if you meet some fairly specific criteria.
The Brooklyn Paper
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You don’t need to buy a Brooklyn Bridge Park condo or a Bay Ridge mansion to get waterfront views!

The city’s housing department is now accepting applications for 86 below-market-rate units in a new building slated to open next year on the banks of the scenic Gowanus Canal.

Along with the sweeping vistas of Lavender Lake, developer Lightstone Group’s 12-story, 429-apartment complex at 365 Bond St. between First and Second streets will offer residents in-unit washers and dryers, yoga rooms and spin studios, and a rooftop deck with barbecues.

Among the so-called affordable units up for grabs are 20 studio apartments for $833 a month, 48 one-bedroom units at $895 a month, and 18 two-bedroom digs for $1,082 a month. The below-market apartments are earmarked for households earning between $29,932 and $51,780 a year — depending on the number of people and the size of the unit.

People who already live in Gowanus, Red Hook, the Columbia Street Waterfront District, Carroll Gardens, Cobble Hill, or Park Slope will get first dibs on 50-percent of the apartments.

Would-be waterfront residents have until Jan. 4 to apply. After that, the city will conduct a lottery of the applicants, and those whose lucky numbers come up will be invited to an interview to prove the information they supplied on their application is legit.

Lightstone was also building an additional 268-unit structure next door between First and Carroll streets, but sold that part off to developer Atlantic Realty earlier this year.

The combined residential complex has been a source of much consternation in the neighborhood, with some residents convinced its sheer size will over-burden local schools, transportation, and sewage systems, while others are worried that building housing on toxic land next to the most polluted waterway in the country is a disaster — or at least a really gross flood — waiting to happen.

Lightstone cut a deal with the Environmental Protection Agency last year to spend $20 million cleaning up the noxious soil on the site and building a wall along the canal to keep the various pollutants blobbing around in Brooklyn’s natural purgatory from permeating the ground again. In exchange, the feds agreed not to sue the developer to clean any existing contamination in the future.

Apply for the below-market units online at www.nyc.gov/housingconnect. Or send a self-addressed envelope to Fifth Avenue Committee C/O Vania Merino, 621 Degra St., Brooklyn, 11217.

Reach reporter Colin Mixson at cmixson@cnglocal.com or by calling (718) 260-4505.
Updated 10:17 pm, July 9, 2018
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Reasonable discourse

K. from ArKady says:
Not only do you get a below market rate for your closet, but you get a free incurable cancer to boot! Sign me up!
Nov. 10, 2015, 12:04 pm
jay from nyc says:
so let see, warehousing the poor at a superfund toxic wasteland, and the developers get a sweetheart deal for doing so? Ummm, so how is this progress(ive) exactly?
So what, we run out space at for profit prisons and instead build death houses instead?
Nov. 10, 2015, 6:55 pm

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