Over the last few years, dozens of affordable housing lotteries have highlighted what we already know: it's really hard to actually win these things. Not only are the requirements very strict, and the process very muddled, but the odds are extremely slim. New data reported by the Daily News shows that there were 696 applications for every affordable apartment available through a lottery since July 2013. In that time, there were a total of 2.9 million applicants for 4,174 apartments in 72 lotteries.
According to the Department of Housing Preservation and Development, there are 8,500 units of affordable housing currently under construction, which is the highest amount since HPD's establishment in 1978. This is not surprising, given that the mayor made affordable housing his main priority, but the affordability of some of these new units is being called into question. For example, in Prospect-Lefferts Gardens, at 382 Lefferts Avenue, studios were being offered at $1,900, well above the neighborhood's average price of a studio: $1,334.
· EXCLUSIVE: Affordable Housing Through Lottery Shows Huge Demand in New York [NYDN]
· Lawsuit Says Affordable Housing Lotteries Enforce Segregation [Curbed]
· Mapping Affordable Rentals Taking Applications Right Now [Curbed]
· All coverage of Affordable Housing Lotteries [Curbed]
Loading comments...