New York News

Affordable housing plan in Brooklyn

Tuesday, March 22, 2011

Many apartment constructions in the city were stalled by the economic downturn.

Now, there's a new plan to turn those apartments into affordable housing.

The city announced the first deal under a program to help developers who've fallen on hard times.

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The city will pay $3 million to subsidize a residential construction in the Prospect-Lefferts Gardens area in Brooklyn.

In return, the developer will reserve the building's 46 units for middle-income New Yorkers.

The deal is part of a $20 million pilot program.

City Council Speaker Christine Quinn says similar agreements are in the works.

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