Starrett City bidder makes last-ditch pitchMore as the situation develops.
Clipper says plan ensures low rents; foes want Mitchell-Lama protected
The prospective buyer of Starrett City is making a last-ditch effort to save its bid for the Brooklyn housing complex . . .
But housing officials and politicians - many of whom came under fire for failing to block the recent $5 billion sale of affordable housing complexes Stuyvesant Town and Peter Cooper Village - have condemned the deal. They blast Mr. Bistricer's record, citing thousands of violations at his other properties. They also say the price tag, which amounts to $221,000 a unit, makes no economic sense unless the buildings are turned into luxury residences.
"It will be impossible for someone paying this price not to convert the units into high-priced rentals or ritzy condominiums," Sen. Charles Schumer observed in a statement recently.
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Technorati tags: Working Families Party | Affordable Housing