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Discussion on affordability and community income levels
0:55:56
ยท
120 sec
Council Member Kamillah Hanks raises concerns about the affordability of the new development in relation to the community's average income. Winifred Campbell from NYC Housing Preservation and Development responds, explaining:
- The development offers a range of income bands to meet various household incomes within the community.
- 25% of households in the community board can afford the higher-end units in this building.
- The building's location near Wendell Forster Park justifies the wide range of household incomes it can accommodate.
Kamillah Hanks
0:55:56
The average household income in the concourse slash hybrid community is 38,340, which equates to about 30% of the AMI.
0:56:05
So while this building will be fully affordable, the vast majority of the units will theoretically will be out of reach for the for the people currently residing there.
0:56:16
Can you speak to the affordability program chosen for this development and how, if at all, you've confronted that challenge of providing units that are affordable to the existing community.
UNKNOWN
0:56:29
So Go ahead.
Winifred Campbell
0:56:31
So within Community Board four, as you mentioned, there is a wide variety of income bands and this building, again, it's a small building, so it is it's 60 units.
0:56:48
It's not going to meet the needs of everyone, but there's enough of a range that it meets the needs of various household incomes within the community board.
0:57:01
The community board actually has like, I believe it's the American Community Survey, if you look at it for this community board, there are 80, I mean 25% of the households within community board four make the incomes that would support a household at the higher end, which this building allows.
0:57:29
So this building actually has 25% of the units meeting that income mix.
0:57:35
And again, this building is in a very marketable area across the street from the Wendell Forster Park.
0:57:44
So it makes sense that this particular development would reach this wide range of households within the community board.
Kamillah Hanks
0:57:54
Thank you.
0:57:55
I appreciate your answer.