Starrett City Sale, Bad Idea
February 20th, 2007

An editorial in the New York Times this weekend called the sale for $1.3 billion of the Starrett City housing development “a bad idea, chiefly because New York cannot afford to lose any more affordable housing… Our hope is that the deal is quashed quickly, and that state and local officials use the reprieve to concentrate on stopping the hemorrhaging of affordable housing.”

By on February 20, 2007, 9:27 am
In category: Gotham City,Housing,Land Use | 2 Comments »

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2 Responses to “Starrett City Sale, Bad Idea”

  1. Eric Fergen Says:
    March 19th, 2007 at 9:34 am

    While the preservation of affordable housing in New York City has become a popular topic of conversation, much of the discussion has focused on subsidized housing, including Section 8, 202 Senior housing, and Mitchell Lama projects. Recently, the sales of Stuyvesant Town, Peter Cooper Village and (perhaps) Starrett City have shifted the focus of attention to the loss of rent stabilized apartments in Manhattan and Brooklyn. These high profile sales are indicative of what is happening around the City, as a new wave of owners arrive in a hot real estate market and will look to bring the rents in their new properties to the upside potential that their business models depend on. Affordable housing advocates are greatly concerned about who will be able to afford to live in New York City in ten years. In the midst of the doomsday scenarios there is a hope that the high profile sales will spur the necessary parties to act proactively to save the privately owned rent stabilized housing stock that is the most abundant source of affordable housing to the working poor in the City. As affordable housing advocates working in the largest expanse of this affordable private rental housing in the five boroughs – the west Bronx corridor along the Grand Concourse – University Neighborhood Housing Program will be holding a forum next week to assess current market issues, as well as strategies to improve the quality while keeping the affordability of housing.

    The forum, entitled Shrinking Affordability: Housing Prices, Quality and Preservation in New York City’s Last Expanse of Affordable Private Rental Housing will see UNHP present Bronx and City-wide focused research that addresses these and other issues, as well as discuss effective tools for retaining some level of affordability on a large scale. Panelists representing the private, public and nonprofit sectors will respond to this presentation and will field questions from those in attendance.

    The forum will be held Tuesday, March 27th, 2007, with breakfast from 8:30 – 9:00 AM and the forum from 9:00 – 11:00 AM at Fordham University’s Rose Hill campus in the Bronx, in the Faculty Lounge of McGinley Center. The event is free, but space is limited. For more information, please download our registration form at http://www.unhp.org/pdf/ShrinkingAffordabilityInvitation.pdf.

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    May 23rd, 2012 at 1:55 am

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