This construction helps to ensure that local residents have affordable rental and homeownership options and to counter the steady erosion of affordable housing through gentrification in South Brooklyn neighborhoods, such as Park Slope, Red Hook, Sunset Park, Prospect Heights, Gowanus and Carroll Gardens. Our work creates safe, quality homes for people who might otherwise be living in overcrowded, dilapidated apartments or be forced to leave their homes and neighborhood.
FAC either continues to manage a building after it has been built or renovated, or it sells the building or units at an affordable price. FAC is currently managing more than 390 units, providing social support where needed as well as maintaining and operating the buildings. Through the creation of limited-equity cooperatives and mutual housing associations, residents of FAC buildings often become collective owners.
575 5th Avenue is supportive housing for low-income adults. All apartments are furnished, single-occupancy studios. All tenants must be single adults and earn less than $32,280 annually. Applications are no longer being accepted. The Center for Urban Community Services (CUCS) provides tenants of 575 5th Avenue with on-site supportive services case management.