The Department of Housing Preservation and Development has submitted permits to construct a new seven-story residential building in Bedford-Stuyvesant, Brooklyn. Located at 633 Dekalb Avenue, the proposed property would comprise nearly 40,000 square feet and top out at 69 feet tall. Magnusson Architecture and Planning, a New York-based design studio, is listed on the submitted permits as the applicant of record and will most likely serve as executive architect for the new building.
The ground-up residential property would comprise 29,246 square feet of livable area divided among 37 rental units for an average of 790 square feet apiece. Permits do not mention amenities, but do state that accessory parking will not be included in the new construction.
As reported by The Brooklyn Paper in January, Bedford Stuyvesant Restoration Corporation, former owners of several vacant lots at 633-639 and 648-654 Dekalb Avenue, intended to sell the properties to facilitate the construction of a development that could better serve the surrounding neighborhood in the form of community facilities or below-market-rate housing. While is appears that transfer was completed, neither the HPD nor the Bedford Stuyvesant Restoration Corporation have quantified the cost of the transaction. It is also unclear when construction at 633 Dekalb Avenue will break ground and when it is expected to complete.
Existing conditions at 633 Dekalb Avenue – Google Maps
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Come on, Yimby. The NYC Department of Housing Preservation and Development only builds income-restricted rentals. Stop using your apartment size algorithm to predict whether their projects will be condos or rentals.
That may be true.
But what is the income formula? Will it permit those making 110000 dollars or only 27000k.
Income limited housing is relative.
If hpd built a property on 63rd and 5th ave the income limit would be 172000k. Or would the minimum be 72000k for a family of 3.
So no there is no easy answer as to potential tenants. As there r many 22yr olds that could shack up with a lover. Or a 72 yr old with their lover.
And both make 67000k a yr.
Different ages. Socioeconomic. Locations. Legacy living cost. Perhaps race. Recurring revenue growth or stability.
The factors are diverse and cross every spectrum of nyc.