Micro apartment units in Kips Bay, Manhattan.

Fast Company writer Diana Budds takes a closer look at the micro-housing trend through the lens of the recently completed Carmel Place project, located in Kips Bay, a neighborhood on Manhattan's east side.

This particular micro-housing development, designed by Brooklyn-based nArchitects is composed of 55 apartments ranging from 250 to 350 square feet. The tiny units tout affordability as a driving force. They are (for the most part) listed at market-rate at $2,500- $3,000 per month, and are fitted with hardwood floors, stainless-steel appliances, and large windows with balconies. Eight of the 22 affordable units are designated for formerly homeless veterans under Section 8 vouchers, and the remaining 14 entered into the housing lottery. 

Carmel Place seems like a uniquely New York solution, but the takeaways could be applied to other cities struggling with affordability and low vacancy rates. Is the only solution to housing affordability cramming a family of four into a shoebox? Will all city dwellers say sayonara to space?

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