Affordable Housing in Williamsburg

Urban Edge reports that construction on 123 Hope Street in the neighborhood of East Williams is now finished! Designed by the team at Aufgang Architects this seven-story luxury building will now be open to New York’s Affordable Housing Lottery.  123 Hope Street has a total of 136 units.

421a tax abatement laws call for the developer(s) to give 30% of the units of the building to affordable housing rentals. Out of the 136 units, a total of 41 units have been assigned to New York’s Affordable Housing Project. The affordable rentals will range from studio apartments, one-bedroom apartments and some two-bedroom apartments. The affordable rentals rent will range between $1,231 and $2,759 for family sizes of one to five people.

Some of 123 Hope Street luxury amenities include a top of the line rooftop deck, fitness center, bike room and parking. 123 Hope Street’s location is one of NYC’s most desired neighborhoods, with a wide range of world-famous nightlife, top of the line restaurants and trendy shopping. Conveniently located near several transportation lines like the G train 123 Hope Street is the perfect location for anyone.