The US blocked the sale of Brooklyn's Starrett City complex until the buyers can prove it will stay affordable.
With dozens of 20-story apartment towers looming behind her, Lashonda Carmichael looks out over a frozen inlet to the bay and the world beyond Brooklyn.
"This is where I come for peace of mind," she says as she balances her 2-year-old son on her hip.
Since she was a child, Ms. Carmichael has roamed these shores on the edge of this massive, affordable housing complex where she grew up. Most New Yorkers know it as Starrett City. Global economic forces now threaten to disrupt her calm and that of the almost 14,000 other tenants, almost 90 percent of whom pay rents below market rates.
That's because the complex is still on the auction block for a whopping $1.3 billion, despite Friday's decision by the federal government to block the sale. While the decision is a major blow to the proposed buyers, they insist they are committed to making the deal work...more
No comments:
Post a Comment