Originally Posted by
Williamsmith
Are young people really moving to the cities and accepting challenging spaces like this? I find it hard to believe.
Believe it.
https://www.nytimes.com/2015/11/22/r...l?mcubz=2&_r=0
The development, previously called My Micro NY, has tapped into a desire common among many singles to live alone. The building includes 14 units designated as affordable, for which some 60,000 people applied, or nearly 4,300 applicants per apartment. The lottery for these units was held earlier this month, and winners will be informed in January. The building is set to open on Feb. 1.
"Affordable" price for under 350 sq. ft="Most of the affordable apartments will rent for $950 a month to tenants who meet income restrictions, less than half of what will be charged for market-rate apartments."