BFC Launches Staten Island Affordable Housing Lottery 

BFC Partners has announced the housing lottery launch for 475 Bay Street, an affordable housing project on Staten Island. The development will offer 270 units, with half designated for formerly unhoused seniors.  

The project includes 131 units for households earning up to 80% of the area median income and units for seniors with incomes below 30% of the AMI. The Pearl received a $101 million state investment, aligning with the Bay Street Corridor Neighborhood Plan. On-site supportive services by Selfhelp Community Services will be provided. 

The Pearl features outdoor spaces, a fitness center, and communal areas, designed by GF55 Partners. “Creating thoughtfully designed apartments for vulnerable populations, including some of New York’s formerly unhoused senior citizens, is deeply meaningful work and we are so proud to reach this milestone, as it means we are one step closer to welcoming new residents to The Pearl,” said Joseph Ferrara, principal at BFC Partners. 

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