From the Times Ledger:
Plans to build a 14-story building with 140 affordable housing units, ground-floor retail space, a day-care center and church on the site of downtown Flushing’s Macedonia AME Church are moving forward rapidly.
Construction is expected to begin on the project in the fall of 2011 and in 2012 people will start moving into Macedonia Plaza, a tax-subsidized project whose progress has been obscured in recent weeks by that of Flushing Commons, a larger, mixed-use development project located in the same area.
Macedonia, being built by the Macedonia Church Development Corp., a group formed by Macedonia AME Church, is designed to provide affordable homes for young professionals, starter families and people with disabilities.
Monetary details of the project, such as how much the city will sell the land for, are still being discussed.
Some meeting attendees expressed concerns that the church corporation would simply build the project, sell it for a windfall and skip town. McEachern countered that line of thought by pointing to the congregation’s long history in the community.
The project, which was the only topic of discussion at last Thursday evening’s Community Board 7 meeting, will offer studios and one-, two- and three-bedroom apartments to eligible applicants through a lottery system.
Applicants will be required to earn 60 percent or less of the area’s median income, which means a family of four will need to earn less than $47,520 per year to qualify, according to the city Housing Department. A percentage will be reserved for people with disabilities and a large portion will go to current Community Board 7 residents.
The rent will be subsidized through sources including the federal Low Income Housing Tax Credit program, which will help keep the units within the reach of lower- to middle-class residents.
“Who is this housing targeted for? This is for the young people getting out of college who are beginning their careers and who can’t afford to live in downtown Flushing,” said Irving Poy, director of planning and development for Borough President Helen Marshall.
Is it for families with children or recently graduated college students? Seems to be a conflict here... And downtown Flushing is rife with illegal conversions that the city doesn't give a shit about, so who couldn't afford to live there?
It's interesting how all these churches are in the real estate business all of a sudden. And was there a bid put out for this since city owned land will be sold and the project will tax subsidized?