The Bloomberg administration [announced] last week the completion of the first two buildings of the new waterfront housing development in the Greenpoint-Williamsburg area.
The 350-unit two-building complex at Schaefer Landing located on Kent Ave is the first constructed under the area's rezoning plan. 140 units will be set aside as rentals for low-income families, while the other 210 will go for sale (at market rates) as condominiums.
For those wondering how the lucky 140 tenants are/were being selected, the administration explains that the "tenants... have been or will be selected by lottery with at least half of the apartments being rented to current residents of Williamsburg. Over 100 families have been selected so far out of thousands of applications received."
The definition of "low-income" for the purposes of affordable housing eligibility is "families earning up to $37,680 per year".