Congressmen Call For Hearings Into Starrett City Sale
By: NY1 News
TWC News: Congressmen Call For Hearings Into Starrett City Sale
Time Warner Cable video customers:
Sign in with your TWC ID to access our video clips.
out of 10
Free Video Views Remaining
To get you to the stories you care about, we are offering everyone 10 video views per month.
Access to our video is always free for Time Warner Cable video customers who login with their TWC ID.
To view our videos, you need to
install Adobe Flash 9 or above. Install now.
Then come back here and refresh the page.
Two local lawmakers are calling for hearings into the controversial sale of a massive Brooklyn housing complex.
Congressmen Anthony Weiner and Edolphus Towns say they're concerned about the recent sale of Starrett City to Clipper Equity for $1.3 billion.
They fear the sale would raise the rents of some 12,000 residents if Clipper Equity opts out of existing government subsidies.
"Given the widely inflated offer at $220,000 per apartment, the owners are virtually— I mean you could see that in terms of where they going," said Towns. "The fact that they paid $220,000 per apartment, that's a message."
"In order for the new owners to make a profit on these properties they have only one place to look. And that is the pocketbook of the tenants or new people that would move into Starrett City and Spring Creek," said Weiner.
Clipper Equity says it's committed to maintaining affordable housing. The sale still needs federal approval.
Starrett City, which is also known as Spring Creek Towers, is the country's largest federally subsidized apartment complex.