Mayor DeBlasio and executives from the Chinese-government-owned developer Greenland and its minority partner Forest City Ratner broke ground on the second residential building in the complex formerly known as Atlantic Yards on Monday. The building at 535 Carlton Ave. is set to contain 298 apartments priced at below-market rates, per an agreement the state brokered with activists to end their lawsuits earlier this year.
The developers are touting the apartments as affordable, but half of the units will be reserved for households making as much as $138,435 a year. Seventy-five will be set aside for households making $24,493 to $50,340, and 15 for households making $17,619 to $33,560.
The first residential portion of the 16-tower complex, B2, is slated to include around 180 below-market apartments but remains stalled after a contract dispute with a construction company.
©2014 Community News Group
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