New 'Affordable' Bed-Stuy Housing Lottery Only For $74K And Up

BEDFORD-STUYVESANT, BROOKLYN — The latest “affordable” housing lottery in rapidly-gentrifying Bed-Stuy is only for people who make at least $74,000 a year.

Six apartments at 263 Franklin Ave. in Bed-Stuy on Tuesday went up for the lottery, which bills itself as creating "affordable rent-stabilized apartments and homeownership opportunities."

But the income requirements price out many residents in a neighborhood in which low-income, long-time residents of color have steadilyfound less places to live.

The monthly rent for one- and two-bedroom apartments is $2,150 and $2,450, respectively, according to the lottery.

And applicants need only apply if they make at least $73,715 a year. The income requirements max out at $149,890, the listing states.

The typical household income in Bed-Stuy is about $53,000 a year, according to the U.S. Census.

The brand-new development qualifies for a tax break for offering “affordable” apartments., according to the listing.

The listing states applicants who are mobility- or vision/hearing-disabled will be given preference.

Applications end Feb. 26.