City sells new Bed-Stuy homes at bargain prices

Several low-income families are living in new Bedford-Stuyvesant townhouses that they bought at bargain prices.The 12 families recently moved into the Marcy Homes on Vernon

BEDFORD-STUYVESANT - Several low-income families are living in new Bedford-Stuyvesant townhouses that they bought at bargain prices.

The 12 families recently moved into the Marcy Homes on Vernon Avenue after winning a city housing lottery. The three-story brick buildings are the result of a city and state collaboration and were built with private and public money."These homes, if they were sold on the market, would go for $800,000 to $1 million today," said city Department of Housing Preservation and Development Commissioner Shaun Donovan. "We're selling them for about $300,000."

Eleazor Moreno was one of the lucky lottery winners among more than 1,000 applicants, which even included police officers. He scraped and saved while working his way up from hotel dishwasher to supervisor.

"This house is for my mother," Moreno said. "For the past 15 years, I've been saving money so I could have a nice apartment."

While the 31 homes are not all occupied now, the city is still moving ahead with plans to have 165,000 affordable units built by 2013.

advertisement | advertise on News 12

Trending Video

They say the speculators are buying homes and 1 Activists rally against gentrification in Cypress Hills, East NY
VIDEO: March to help seniors apply to college 2 VIDEO: March to help seniors apply to college
News 12 viewers discuss the widow of DA 3 The Buzz: Colon cancer
A Bronx-based artist has opened a cash-optional, pop-up 4 Artist opens up cash-optional coffee shop in Williamsburg
Click PLAY for the latest weather forecast. 5 Brooklyn Weather Forecast

advertisement | advertise on News 12

Features

Furry Friends is a weekly segment on News Furry Friends

Furry Friends is a weekly segment on News 12 Brooklyn nightside.

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE