An affordable housing lottery is now accepting applications for Nevins Landing South, a 17-story mixed-use development at 417 Carroll Street in the Gowanus neighborhood of Brooklyn, according to New York YIMBY. The project, developed by Charney Companies and Tavros Capital and designed by Fogarty Finger, contains a total of 306 residences. Of those, 80 units have been made available through NYC Housing Connect, targeting households earning between 40 and 100 percent of the area median income. Eligible income thresholds for those restricted units span a range of $37,269 to $210,400 annually.
ParkPoint Perspective
The activation of a lottery at Nevins Landing South reflects the continued maturation of Gowanus as a rezoned district — a process years in the making. The broad AMI band, stretching from 40 to 100 percent, suggests a deliberate effort to satisfy inclusionary requirements across multiple income tiers, which is increasingly characteristic of large mixed-use approvals in rezoned Brooklyn corridors. For investors tracking supply delivery risk, the pace at which newly entitled Gowanus sites are reaching certificate-of-occupancy and lottery-launch milestones offers a useful gauge of how quickly rezoning-driven inventory enters the market and pressures near-term rents in adjacent submarkets.
Source: New York YIMBY