An affordable housing lottery in Bushwick offers 10 renovated apartments targeted at households earning 50-60% of the Area Median Income. These units, under the Riseboro TPT Ten project, were converted through the city's Third Party Transfer Program, which allows properties in distress to be reclaimed and rehabilitated by nonprofits. Eligible incomes range from approximately $50,949 to $120,540 for one to seven-person households, with rents from $1,359 to $2,264. The project emphasizes affordability, including plans for formerly homeless individuals.
The level of affordability is due to the city claiming the properties from private landlords through the Third Party Transfer Program, and transferring them to a nonprofit for $1 to renovate as affordable housing.
The affordable housing lottery has opened for 10 apartments in six Bushwick tenements rehabbed by a nonprofit through the city's Third Party Transfer Program.
Eligible incomes for the 10 apartments range from $50,949 to $120,540 for households of one to seven people, and rents vary from $1,359 to $2,264 a month.
The buildings have been dubbed the Riseboro TPT Ten, having been renovated by nonprofit housing provider Riseboro.
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