New York News
Affordable housing plan in Brooklyn
NEW YORK (WABC) -- 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.
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.
new york city, brooklyn, housing, new york news
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