The 200 affordable units at City Point at 7 DeKalb Ave in Downtown Brooklyn have received almost 88,000 applicants. When you do the math, that's a 1 in 436 chance of getting one.
Washington Square Partners, Acadia Realty Trust and BFC Partners are developing the residential and retail project. The number of applicants comes from Washington Square’s Aron Gooblar, via the Brooklyn Daily Eagle.
Those 200 units designated as affordable make up 80% of the units being built. The city-run lottery for landing one of the spots ended this past September. The odds for those seeking an affordable unit at the development could have been even worse; before a deal made last year with the NYC Housing Development Corp, only 175 of the units were planned as affordable. [BDE]
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