Community District
Find the planning projects in your community district.
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- 125th Street Corridor
- 2nd Avenue Subway
- 421-a tax incentive program
- 980 Madison Tower
- Access to the Region's Core (ARC)
- Albee Square Mall Tower
- Atlantic Yards
- Bayside Rezoning
- Bayswater/Far Rockaway Rezoning
- Bedford Stuyvesant Rezoning
- Briarwood Rezoning
- Bricktown Centre
- Brig Redevelopment, Wallabout Brooklyn
- Brooklyn Academy of Music Cultural District
- Brooklyn Greenway
- Brooklyn Navy Yard
- Bush Terminal Park
- Clinton Hill/Ft. Greene Rezoning
- College Point Police Academy
- Columbia University Expansion
- Columbus Circle
- Con Ed Site Redevelopment
- Coney Island Development
- Cooper Square Urban Renewal Area
- Cross Harbor Freight Tunnel
- Domino Sugar Factory
- Downtown Brooklyn
- Downtown JFK-LIRR Link
- DUMBO Rezoning
- Dyker Heights/Fort Hamilton Rezoning
- East River Plaza
- East River Science Park
- East River Waterfront
- East Side Access
- Far Rockaway and Mott Creek Rezoning
- Far West Village Rezoning
- Federal Housing Policy
- Fieldston Landmark Designation
- Flushing Development
- Fordham Expansion
- Forest Hills Rezoning
- Fresh Kills Master Plan
- Fulton Street Transit Center
- Gansevoort Marine Transfer Station
- Garment District Rezoning
- Gateway Center at Bronx Terminal Market
- General Theological Seminary Tower (Chelsea)
- Governors Island
- Gowanus Development
- Greenpoint-Williamsburg Rezoning
- High Line Redevelopment + Whitney Museum
- HUB Retail and Office Center
- Hudson Railyards
- Hudson River Park
- Hudson Yards Rezoning & Development
- Hunter College Health-Professions Tower
- Hunts Point Vision Plan
- Inwood/Sherman Creek Waterfront Rezoning
- Jamaica, Queens Development and Rezoning
- Javits Convention Center Expansion
- JetBlue JFK Terminal
- Kingsbridge Armory
- Kissena Park Rezoning
- Lincoln Center Redevelopment
- Long Island City
- Lower East Side Rezoning
- Lower Manhattan Development
- Maspeth - Woodside Rezoning
- Mets Stadium Construction
- Middle Village-Glendale Rezoning
- Midwood Rezoning
- Mott Haven School Campus
- Moynihan Station
- Museum for African Art
- New Madison Square Garden
- New Rego Park, Queens Mall
- New York City Building Code
- New York City Hospital Redevelopment
- New York Diamond Tower
- New York Historical Society Tower
- No. 7 Line Extension
- North Brother Island
- North Tribeca Rezoning
- NYC 2012 Olympic Bid
- NYU Development
- One Madison Ave Clocktower
- P.S. 64 Redevelopment
- PlaNYC 2030
- Plaza Hotel Redevelopment
- Policy Developments - Landmarks
- Public Place
- Queens Botanical Garden
- Queens Plaza
- Queens West
- Randalls Island Water Park and Playing Fields
- Red Hook Cruise Terminal
- Red Hook Development
- Renaissance Ballroom and Renaissance Casino
- Seventh Regiment Armory (Park Ave.)
- Silvercup West
- SoHo Sanitation Garage
- Solid Waste Management Plan
- South Bronx Jail Plan
- South Ferry Terminal Project
- South Street Seaport Redevelopment
- South Village Historic District
- Springfield Gardens Rezoning
- St. Vincent’s Expansion
- Stapleton Waterfront District
- Starrett City
- Staten Island NASCAR Track
- Staten Island North Shore Light Rail
- Stuyvesant Town and Peter Cooper Village
- Sunnyside Yards Platform
- The Caledonia (Chelsea)
- Trump Soho Hotel Condominiums
- Union Square Redesign
- Union-Utopia Rezoning
- United Nations Renovation
- Upper West Side Rezoning Proposal
- Uptown New York (East Harlem)
- Van Cortlandt Park Filtration Plant
- Via Verde - New Housing New York Legacy Project
- Washington Square Park Redesign
- West-Park Presbyterian Church Tower
- White Plains Courtyard
- Whitestone Rezoning
- Willets Point Development
- World Trade Center Redevelopment
- Yankee Stadium Construction
Starrett City
On December 1, 2006, Disque D. Deane, chairman of Starrett City Associates, announced the sale of Spring Creek Towers—better known as Starrett City, a 140-acre apartment complex on Jamaica Bay in Brooklyn. Starrett City is the largest federally subsidized rental complex in the country, comprising 46 towers, 5,881 apartments, 14,000 residents as well as schools, churches, synagogues, a shopping center, post office and power plant. Built in the mid-1970s by a limited-profit housing corporation under the state’s Mitchell-Lama program as subsidized housing for moderate-income workers, today about 90 percent of the tenants get direct federal rent subsidies or other types of government assistance from the city and state.
Critics fear that the new owner could choose to drop out of the Mitchell-Lama program and raise the rents for some tenants. Opponents are also worried about the development of some of the vast amounts of vacant land on the complex.
On February 8, 2007, Clipper Equity L.L.C. a partnership of David Bistricer and Sam Levinson, outbid eight rivals paying $1.3 billion dollar for the complex ($221,000 per apartment). Confirming many people's fears, they say that there is great potential to develop luxury and affordable housing on vacant parcels in the 140 acre complex. They also plan to buy out of the state’s Mitchell Lama program for middle-class families, but insist that Starrett’s existing buildings will remain affordable.
In March, 2007 HUD rejected the proposed $1.3 billion sale of Starrett City to Clipper Equities arguing that they Clipper failed to supply adequate financial information or a plan for how the complex would remain “a viable community for New Yorkers of modest means.” Clipper Equities’ second proposal to buy Starrett City was rejected by the New York State Department of Housing and Urban Development, despite gathering some influential support. Despite these two rejections, Clipper says it will continue to work on the proposal until approved.
As a landlord, Clipper Equity has a mixed record with the city reporting 8,792 outstanding maintenance code violation across 71 buildings. Attorney General Mario Cuomo recently announced that he had discovered that David Bistricer, one of the would-be owners of East Brooklyn’s Starrett City, was permanently banned from selling and operating co-operatives in New York City back in 1998 and vowed to enforce the ban should the landlord try to convert any of Starrett City or build new for-sale units.
Starrett City Owners Agree With Housing Officials, Reject Two Bidders
Friday, October 03, 2008 | Crain's New York Business | Topic: Housing
Although state and federal housing officials ruled that the NHP Foundation and the Greater Allen Development Corp. did not have the financial resources or managerial capacity to run Starrett City, both submitted bids to purchase the development. Starrett City Associates, the owners, has stated that they agree and have also rejected the two bidders. Still in the running is a group comprised of The Cogsville Group, the Christian Cultural Center, the Housing Partnership Development Corp. and The Clarett Group, and a group comprised of Citigroup Inc., Westbrook Partners, the Central Labor Council and the Metropolitan Council on Jewish Poverty. The owners of Starrett City say they will make their final decision in cooperation with U.S. Department of Housing and Urban Development and the state Division of Housing and Community Renewal.
Remaining Starrett City Bidders Have Different Plans
Wednesday, October 01, 2008 | New York Daily News | Topic: Housing
Residents and area leaders find community advantages in the plans of the two remaining bidders for Starrett City, or Spring Creek Towers. Westbrook Partners has teamed up with the New York City Labor Council and has promised to improve services at the complex and to keep apartments affordable beyond the 20-year legally required minimum. The Cogsville Group and its bid partner, the Christian Cultural Center has pledged to redevelop the church's 11 acres next to the complex.
Starrett City Bids In
Thursday, September 25, 2008 | New York Times | Topic: Housing
Four bids were submitted for Starrett City, the largest federally subsidized housing complex; although all of the groups have remained silent on how much there bids were. Two groups – the NHP Foundation and the Allen A.M.E. Housing Corporation - were told earlier this week by the Department of Housing and Urban Development (HUD) that they did not have the financial and managerial means needed to qualify for the complex. Last month HUD authorized an increase in rent subsidies that was not as large as anticipated, complicating the bidding process.
Two Contenders Left In Bid For Starrett City
Tuesday, September 23, 2008 | New York Times | Topic: General
The federal Housing and Urban Development (HUD) , and the state Department of Housing and Community Renewal have rejected the NHP Foundation and Related Companies and the Rev. Floyd H. Flake’s Greater Allen Housing Corporation in their bids to purchase Starrett City in Brooklyn, the country’s largest federally subsidized housing development. HUD cited lack of “financial and managerial capacity and the experience necessary to own and operate Starrett City” as reasoning for the disqualifications. Westbrook Partners and the Cogsville Group are the last two contenders approved for bidding, and each are expected to bid between $600 million and $800 million on the complex.
Starrett City Bids Could Suffer Because of Financial Crisis
Monday, September 22, 2008 | Crain's New York Business | Topic: General
Bids for the Brooklyn complex, Starrett City, may be hundreds of millions of dollars less than initially expected. The bids are due this Thursday and were expected to be about $1 billion. However, with the current economic conditions, bids are expected are not likely to be more than $700 million, for the 140 acre complex that includes residential, retail, community space among other things. The bidders are expected to face questioning from residents and NY Acorn on Monday night regarding their submissions.
East Village Tenants Tell Starrett City to Be "Very Afraid" of Westbrook
Wednesday, September 10, 2008 | The Villager | Topic: Housing
The Cooper Square Committee, an affordable housing advocacy group, and residents of East Village rent-stabilized building owned by Westbook Partners held a press conference to warn Brooklyn’s Starett City residents about Westbrook. Westbrook is bidding to buy Starett City, the nation’s largest federally subsidized housing development, and is expected to cost $1 billion. Tenants of Westbrook-owned properties complained of harassment and unresponsive management. Additionally, the Cooper Square Committee found that 40 percent of Westbrook’s rent-stabilized apartments have been vacated since it bought seventeen East Village buildings in 2007, higher than the national average of 5.6 percent. Barclay’s Capital Real Estate funded Westbrook’s East Village deal through a $55 million loan.
New Starrett City Bids Submitted
Wednesday, July 09, 2008 | New York Times | Topic: Housing
Eight new bids were submitted for Starrett City, although all of them were significantly lower than a bid made last year which failed. It is expected that a non-profit housing group will be the winning bid. An agreement was made last year to ensure that Starrett City, the largest affordable housing complex in the country, would remain affordable. Recap Advisors, which is running the sale for the owners, expects that three leading contenders would be chosen by the end of July and a final contract would hopefully be chosen by September 1st.
Starrett City Buying Information Online With Limited Access
Wednesday, June 11, 2008 | The Real Deal | Topic: Housing
A limited group of approved buyers now have access online to information about Starrett City. Potential buyers have until July 8th to submit proposals. According to a deal that was agreed to earlier this month, whoever buys the complex will have to keep most of the units affordable.
Agreement Reached to Keep Starrett City Affordable
Monday, June 02, 2008 | New York Times | Topic: Housing
Federal, state and City officials and Starrett City Associates, owners of the Starrett City housing complex in Jamaica Bay, Brooklyn, have forged an agreement to keep the country’s largest federally subsidized housing complex affordable regardless of who wins the bidding on the site set to start on Tuesday. A $1.3 billion sale was blocked last year by tenants, affordable housing advocates and public officials who feared that the high sales price would prompt the new owners to convert affordable units to market-rate in order to make a profit. The new agreement, which is being heralded as a model for future sales of subsidized housing complexes, includes an affordable housing provision in return for relief from interest payments owed by the current owners to the state and a commitment by the City to assist the new owners in getting approvals for ground level retail and new housing development.
Two More Potential Bidders for Starrett City
Thursday, March 20, 2008 | Crain's New York Business | Topic: Housing
The New York Housing Partnership and the National Housing Partnership Foundation have both expressed interest in bidding on the Starrett City housing complex in Jamaica Bay Brooklyn, bringing the number of potential bidders to four. While neither organization has made an official bid, spokespeople from both say they are interested in maintaining affordable housing units in the complex.
Non-Profit to Make Bid for Starrett City
Friday, March 14, 2008 | Crain's New York Business | Topic: General
A week after a coalition of labor and community groups announced a bid to purchase Starrett City, another bidder has emerged. The National Development Council (NDC), a New York City non-profit, is putting together a bid that would keep many of the apartments in the apartment complex affordable. Although Starrett City Associates, the owner of the housing development, is not currently accepting bids, the community coalition has presented its proposal to residents of the complex, while NDC has not yet done so.
Community Groups Draw Up Bid for Starrett City
Monday, March 10, 2008 | Crain's New York Business | Topic: Finance
Local labor, community and religious organizations have formed a coalition to draw up a bid to purchase Starrett City, the largest federally subsidized affordable housing development in the nation. The coalition says that its main goal is to keep the housing complex affordable, while remaining competitive and attractive to investors. In August 2007, a bid by investor Clipper Equities was turned down by housing officials as being too high (suggesting that the investor could not keep the housing affordable). The owner then announced that it would take Starrett City out of the Mitchell Lama, which could lead to a conversion to market-rate apartments, but after criticism from government officials, the owner may still sell the property. The coalition’s bid is one of several being prepared to purchase the housing development.
Lobbying Firm Retained for Starrett City Associates
Thursday, September 20, 2007 | The Real Deal | Topic: Housing
The Starrett City Associates, owners of the Starrett City Affordable Housing Complex, have retained a Washington, DC based lobbying firm. Starrett City Associates have filed intent to leave the Mitchell-Lama program in favor of a more profitable housing scheme. However, the United States Department of Housing and Urban Development has blocked the sale to Clipper Equity twice this year already. If Starrett City Associates is successful in their bid, the 5,800 subsidized units could be converted to market-rate housing which will directly affect 14,000 residents. Some elected officials and community groups are actively opposing Starrett City’s plan to exit the affordable housing project.
Council Speaker Tries to Stop Starrett City’s Exit from Mitchell-Lama
Thursday, September 06, 2007 | New York Sun | Topic: Politics & Government
Christine Quinn, Speaker of the City Council, sent a letter to state officials asking that it deny a motion by the owners of Starrett City to leave Mitchell-Lama, an affordable housing program for middle-income families. The owners of Starrett City, the largest affordable housing complex in the country, signaled their intention to leave the program after a series of unsuccessful bids last year to sell the property. Observers are skeptical about the state’s willingness to deny the move from Mitchell-Lama.
Starrett City to Leave Mitchell-Lama
Thursday, August 30, 2007 | New York Times | Topic: Housing
The owners of Starrett City in East New York, the largest federally subsidized housing complex in the country, have decided to depart from the Mitchell-Lama program that guarantees affordable rental units to middle-income families. The move received early criticism from affordable housing advocates and lawmakers, who believe that the owners will soon charge market rates, displacing long-time residents. Nearly 700 Mitchell-Lama tenants exist among Starrett’s 14,000 residents. Some are calling for stricter rent laws at the state and federal levels to prevent the conversion to market rates.
Uncertainty, and Protests, Continue at Starrett City
Tuesday, August 21, 2007 | New York Daily News | Topic: Housing
Residents of Starrett City in East New York, the nation’s largest federally subsidized apartment complex, protested a possible sale of the property at the offices of the building’s owners, Starrett City Associates. The fate of Starrett City remains unclear after the U.S. Department of Housing and Urban Development (HUD) twice rejected a bid proposal by developer Clipper Equities. While the bid does not officially finish until next month, Starrett owners have not clarified their intentions for the property. Many residents fear that a sale will drive up current rent.
Bistricer Working with Nonprofits on Last Minute Starrett City Bid
Friday, August 03, 2007 | New York Times | Topic: Housing
David Bistricer has sent a new team to try and buy Starrett City, led by Provident Group, a nonprofit housing developer and the New York City Central Labor Council. Both organizations are committed to maintaining the development’s affordable status. They say that if the deal went through Bistricer’s stake would shrink to part of the shopping center and future developments. The change in tactics though is not expected to garner any more success with city and state officials than original offers.
Affordable Housing Rally at Stuyvesant Town
Thursday, May 17, 2007 | The Real Deal | Topic: Housing
A large rally for affordable housing has been planned for next Wednesday at Stuyvesant Town and Peter Cooper Village. The site was chosen because the controversial sale of the two developments was such a well-known event and was criticized from removing a large amount of affordable housing from the New York City market. However individuals are expected to come to the rally from all over the city and outer boroughs, including from Starrett City and other buildings that have recently been taking out of the Mitchell-Lama program. The rally’s organizers are asking from reform of rent-stabilization and Mitchell-Lama, as well as increased control by New York City of vacancies and high rents.
Clipper Equities' New Tactics in Starrett City Bid
Thursday, May 03, 2007 | New York Times | Topic: Housing
David Bistricer of Clipper Equities is still going forwarded with negotiations to purchase Starrett City, currently trying to work out a lower sale price and a partnership with Reverend Butts of Harlem in order to convince state and local officials that he will maintain affordability within the development. A lower price might convince some that it will not be as necessary to raise rents or cut services in order to make a profit, and Reverent Butts is a well-known housing developer who may bring some credibility to his vows of future affordability. Bistricer still plan to develop market-rate housing on vacant land within the development. A rally against the sale was held yesterday at City Hall, drawing about 75 people.
Clipper Equities Forms New Partnership to Boost Their Starrett City Bid
Sunday, April 22, 2007 | Crain's New York Business | Topic: Housing
In an attempt to bolster the credibility of Clipper Equity’s promise to keep Starrett City affordable, the firm is planning on partnering with the Abyssinian Baptist church to help them operate the housing development. Clipper Equity’s two previous attempts to buy Starrett City were rejected by federal regulators largely due to concerns that the company would remove the development from the state’s Mitchell-Lama subsidized program and drastically raise rents. The new partnership aims to maintain the housing complex in the Mitchell-Lama program and attract additional investment to provide social services to residents.
Schumer and State Legislators Unite Against Starrett City Sale
Saturday, April 14, 2007 | New York Times | Topic: Housing
Senator Schumer and Democratic members of the New York State Assembly have united to demand that federal housing officials to reject Clipper Equities plan to buy Starrett City arguing that it would require millions of dollars in additional subsidies and would fail to protect the current residents from rent increases and displacement. They are also pushing legislation that would extend rent regulation to apartments in the state’s middle-class Mitchell-Lama housing program like the ones at Starrett City. Present owners, Starrett City Associates, say if the $1.4 billion dollar sale is continually blocked, they might privatize the complex themselves.
Sale of Starrett City: An Overview
Monday, April 09, 2007 | Dealscape | Topic: Housing
This article by Dealscape summarizes the Starrett City bidding process and the difficulties that Clipper Equity LLC has faced since winning the initial bid. The author notes that while state and city officials have agreed to try and prevent any new owner from raising rents substantially, the current owners could remove the development from the Mitchell-Lama program as well. Clipper Equities last proposal specified how it would maintain affordability, including cutting operating costs and management fees, plus adding additional services such as a retirement facility and retail space.
Clipper Equities' Second Starrett City Bid Rejected
Sunday, April 08, 2007 | NY1 | Topic: Housing
Clipper Equities’ second proposal to buy Starrett City was rejected by the state on Saturday, despite gathering some influential support. The Housing Commissioner stated that the proposal was rejected because it does not sufficiently protect the current residents. Clipper Equities’ purchase attempts have drawn criticism as many believe the developer wants to bring as many units as possible to market-rate, while federal officials and residents want it to remain affordable for current residents. Clipper Equities will continue to edit its proposal and that it believes it can maintain affordability for its tenants.
New Starrett City Proposal Has Influential Backing
Friday, April 06, 2007 | New York Times | Topic: Housing
Clipper Equities developer David Bistricer went back to the drawing board after the federal Department of Housing and Urban Development (HUD) rejected his $1.3 billion bid for the Starrett City apartment complex in East New York, the nation's largest federally subsidized complex. Clipper has elicited some influential supporters in its attempt to satisfy the concerns of HUD and other bid opponents, including Mayor Bloomberg, Senator Charles Schumer (D-NY), Attorney General Andrew Cuomo, and Governor Eliot Spitzer, who believe that Bistricer's high-priced plan would displace the tenants who flocked to Starrett for its affordability. In particular, Bistricer has invited two powerful lobbyists, a renowned architectural firm, and two "politically influential" African-American ministers to his cause. Public officials and HUD will review the modified plans, but many original skeptics maintain that no plan will be approved that sacrifices the affordable character of the 46-building complex.
Starrett City Bidder Unveils New Plan
Monday, March 12, 2007 | Crain's New York Business | Topic: Housing
Developer Clipper Equities, whose $1.3 billion bid for Starrett City was blocked by the federal Department of Housing and Urban Development, has submitted a revised plan that it hopes will overcome the myriad criticisms of the purchase. To answer the principal allegation that the bid's price will make the entire complex unaffordable at $221,000 per unit, Clipper has formed a series of cost-cutting methods to lower the operating costs at the 5,881-unit complex in East Brooklyn. The plans include installation of new heating and cooling systems, adding new housing for seniors, and utilizing 6 million square feet of development rights by bringing small-scale retail space to the complex. To ensure affordability, the developer has also suggested making a benchmark of the units dedicated to affordability at 30% of median area income. Public officials in New York have vowed to block any deal that would take current residents out of the Mitchell-Lama program.
City Pension Funds and Real Estate Development
Monday, March 12, 2007 | Metro New York | Topic: Finance
In this NY Metro interview City Comptroller William Thompson discusses the implications of the city's projected $3.9 billion surplus for fiscal year 2007 as well as the challenge of managing the city's $105 billion in pension funds. According to Thompson, nearly $1.2 billion of city pension funds have been invested in housing or real estate and between $500-$600 million, in particular, in affordable housing. Thompson, who opposed the $5.4 billion mega sale bid for Stuyvesant Town and Peter Cooper Village, says that the city does not invest pension funds in real estate transactions that lessen affordable housing options for lower and middle-income residents.
Two Responses to Two Sales: Stuyvesant Town v. Starrett City
Saturday, March 03, 2007 | New York Times | Topic: Housing
This New York Times article assesses the recent mega sales of Stuyvesant Town-Peter Cooper Village and Starrett City, the former receiving the blessing of city officials including the mayor and the latter vilified by city officials and public advocates. Why did the city and its leaders react so differently to the $5.4 billion and $1.3 billion sales respectively? The article contends that the Stuyvesant Town sale satisfied the concerns of those interested in preserving affordable housing for the mostly middle-income residents who live there because the developer, Jerry Speyer, has an "insider" reputation in New York that Starrett City developer David Bistricer does not have. In addition, the article contends that the massive amounts of city, state, and federal subsidies at Starrett City contributed to the public's unease with such a large sale to a private developer.
Resale of Starrett City Doubtful in Eyes on Federal Housing Secretary
Saturday, March 03, 2007 | AM New York | Topic: Housing
Housing and Urban Development (HUD) Secretary Alphonso Jackson rejected the $1.3 billion sale of Starrett City on Friday, the country's largest federally subsidized housing complex, over fears that the winning bidder, Clipper Equities, would not keep the complex affordable to its largely lower-income residents. While Jackson did add that a deal is not absolutely off the table with the developer Clipper and its partner David Bistricer, he did say that, "the door is not open; the door is actually closed." Jackson reiterated that HUD would not allow the displacement of low-income residents at the hands of exorbitant rental prices. Prominent New York politicians and advocates have been petitioning Jackson to reject the deal.
Senator Schumer and Others to Celebrate Starrett Sale Rejection
Friday, March 02, 2007 | The Real Deal | Topic: Housing
News that federal housing secretary Alphonso Jackson rejected Clipper Equity's $1.3 billion bid to buy Starrett City has led to celebrations among many housing advocates and public officials, including Senator Charles Schumer (D-NY), State Attorney General Andrew Cuomo, and Representative Edolphus Towns. The three officials, along with a host of others, will celebrate the decision by the Department of Housing and Urban Development this afternoon at the housing complex in Brooklyn.
HUD Blocks Starrett City Sale
Friday, March 02, 2007 | New York Times | Topic: Politics & Government
HUD has rejected the proposed $1.3 billion sale of Starrett City to Clipper Equities arguing that they have failed to supply adequate financial information or a plan for how the complex would remain “a viable community for New Yorkers of modest means.” While the secretary left open the possibility that the deal could be revived, Secretary Jackson expressed “serious concerns” about whether Mr. Bistricer should be involved in federally assisted housing, given the “numerous housing code violations” at a separate Brooklyn housing complex owned by him as well as a 1998 court order barring him from converting rental buildings to condominiums or cooperatives because of financial irregularities. Clipper Equities vowed to supply all needed financial data and argued that the complex will remain affordable.
Skepticism over Section 8 Vouchers and Starrett City's New Owner
Wednesday, February 28, 2007 | New York Times | Topic: Housing
Developer David Bistricer, whose company Clipper Equities recently won the bid for Starrett City for $1.3 billion, has a history of refusing Section 8 vouchers at one of his properties, according to the New York Times. Community-organizing group Acorn is making the allegation about a Bistricer-owned property known as Flatbush Gardens. The refusal, which is illegal, continues to raise doubts that the developer is committed to maintaining affordability at the 5,881-unit apartment complex on Jamaica Bay, which is the largest federally subsidized complex in the country. Bistricer contends that Starrett City will not discriminate against anyone on the basis of income, inviting the use of Section 8 vouchers. State Attorney General Andrew Cuomo is currently reviewing the transaction. The federal Department of Housing and Urban Development, which has the power to approve or reject a new owner, will decide the case by Friday.
Starrett City Affordable Housing Preserved by Rent Protection Bill?
Monday, February 26, 2007 | New York Times | Topic: Housing
New York State Legislature is being asked to consider extending an existing program which requires rent protection for former Mitchell-Lama units. Currently, state law only requires protection for units built before 1974, while the proposal would extend protection to all developments built or substantially rehabilitated since that year. Successful of such a proposal would have a large impact on the future of Starrett City, a Mitchell-Lama building built in 1974. Mayor Bloomberg has thrown his support behind the proposal as a way to protect affordable housing at Starrett City as well as other properties across the city.
City Considers Temporary Ownership of Properties to Preserve Affordable Housing
Monday, February 26, 2007 | New York Daily News | Topic: Housing
Bloomberg administration is in discussion with HUD on the possibility of buying mortgages of approximately 25 properties which currently provide federally subsidized housing but are in danger of being sold to private owners who may choose to exit the subsidy programs. If possible, the city would take temporary ownership before selling them to private owners who are committed to maintaining affordable housing. The program is being discussed due to concerns about losing existing affordable housing when it comes under new ownership, as epitomized by the debate over the future of Starrett City.
Starrett City Remembered as Successful Unique Housing Experiment
Wednesday, February 21, 2007 | New York Times | Topic: Housing
Starrett City residents reminisce about the development as a coherent community which was unique due to its racial diversity and community tolerance. But the atmosphere at Starrett City was no accident. The planners carefully arranged apartments to keep floors racially diverse, and originally had a racial quota to fill the building with 70% white renters. The plan was struck down in 1988 but original rental policies had an influence on community demographics. Today, most residents believe they benefited from living in a building without prejudices, and the development has remained racially mixed although market forces now control who will live there. Residents are concerned that their unique community will be destroyed if the new owners of Starrett city raise rents, forcing tenants out.
State Attorney General May Stop Starrett City Sale
Saturday, February 17, 2007 | New York Times | Topic: Housing
State Attorney General Andrew Cuomo has uncovered a 1998 court order that bars developer David Bistricer from converting rental buildings in New York to condominiums or co-operatives because of financial irregularities. Bistricer's company Clipper Equities recently won the bid for Starrett City, the largest federally subsidized rental complex in the country in East New York, for $1.3 billion. Tenants, advocates, and public officials have joined in an effort to prevent the massive sale should it make the complex unaffordable to residents. Federal Housing Secretary Alphonso Jackson committed to taking Cuomo's finding into evidence as the federal government continues to process the deal.
Double Standard of Code Violations?
Friday, February 16, 2007 | New York Times | Topic: Housing
Mayor Bloomberg referred to the 8,792 outstanding housing code violations of landlord, David Bistricer, when he registered apprehension about the sale of the Starrett City complex in Brooklyn to Bistricter's company, Clipper Equities. Yet, when the Coalition for the Homeless, an advocacy group for the homeless and formerly homeless, accused the administration earlier this month of housing formerly homeless in units with housing violations, the Bloomberg Administration maintained that code violations are not indications of an unsafe apartment. Is a double standard at work? This article in the New York Times explores the intricacies of city code violations, and how they are used at times in political ways.
Re-Bid on Starrett City, says Sen. Charles Schumer
Friday, February 16, 2007 | The Real Deal | Topic: Housing
Senator Charles Schumer (D-NY), chair of the Senate Housing sub-committee, is calling for the re-bid of Starrett City, the largest federally subsidized rental property in the U.S., which sold for $1.3 billion to the Clipper Equity group. The senator believes that the sale was inappropriate because the federal government had no role in the negotiation and that the bid book price was so high that it excluded certain bidders. The sale has caused a stir among public officials, tenant advocates, and residents who all fear it will not only displace the residents the complex was meant to house but fall into the hands of a landlord with a history of violations.
More Politicians Skeptical of Starrett City Sale
Tuesday, February 13, 2007 | New York Daily News | Topic: Housing
Alphonso Jackson, President Bush's Housing and Urban Development Secretary, added his name to a long list of political leaders weary of the recent sale of the nation's largest federally subsidized complex for $1.3 billion. Housing advocates and politicians, including Senators Schumer and Clinton, point with caution to real estate mogul David Bistricer's history as a landlord of 71 buildings in Brooklyn where he has received 8,792 housing violations. Bistricer's company, Clipper Equities, won the bid and has promised to keep the complex, in which 90% of the units are subsidized, affordable. Some are clamoring that the promise be made in writing. The Congress and the department of Housing and Urban Development have vowed to nix any deal that dislocates the lower and middle-income residents the complex was meant to house.
New York Representatives call for Congressional Investigation of Starrett City Sale
Monday, February 12, 2007 | AM New York | Topic: Housing
Congress has been requested to investigate the sale of Starrett City by two Representatives from Brooklyn, driven by concerns that the sale price will require the owner to raise rents and cut services in what has been the nation’s largest subsidized housing development. Specifically, they requested an investigation by the House Subcommittee on Housing and Community Opportunity to examine how the Starrett City sale could impact the city’s real estate market. The new owners have stated that they remain committed to providing affordable housing, but opponents remain skeptical given the high price that was paid for the development.
Starrett City Sale Emblematic of Decreasing Affordable Housing in NYC
Sunday, February 11, 2007 | New York Daily News | Topic: Housing
The statement by new Starrett City owners that they will be exiting the state’s Mitchell-Lama subsidized housing program is emblematic of a recent trend in the city. The Mitchell-Lama program, originally implemented in 1955, stimulated construction of affordable housing by providing property tax exemptions and low-interests mortgages in return for limiting landlords profits and setting income limits for tenants. Since 1996 the city has lost about 38% of the affordable apartments which were originally created under the Mitchell-Lama program as properties have been sold and new owners have chosen to exit the program. Bloomberg has stated that he is committed to preservation of existing affordable housing units as well as creation of new affordable housing in his New Housing Marketplace Plan, which could offset some of the recent trend.
Mayor Skeptical of Bid Winners of Starrett City
Friday, February 09, 2007 | The Real Deal | Topic: Politics & Government
Mayor Michael Bloomberg has expressed worry about the new owners of Starrett City, Clipper Equities, who won the sale of the apartment complex with a bid of $1.3 billion. The mayor's main concern is that Clipper is not as reputable a landlord as Tishman Speyer, who bought Stuyvesant Town and Peter Cooper Village for $5.4 billion. Citing past violations by the group led by Sam Levinson and David Bistricer, the Mayor remains apprehensive about new ownership. The sale has inspired criticism from other leading public officials who fear the sale will compromise the affordability of the complex, the largest federally subsidized rental property in the country.
Starrett City sold to Clipper Equities for $1.3 Billion
Thursday, February 08, 2007 | New York Times | Topic: Housing
Starrett City was sold today for $1.3billion to Clipper Equities, LLC, a partnership between David Bistricer and Sam Levinson. Tenants have continued to assert the need for the housing complex to remain a site for affordable housing, with concerns that the new owner may raise rents or cut services within the complex. The tenants position has been supported by state and city officials. The new owners plan to develop new luxury and affordable housing on the available vacant land within the complex. They have stated that while they do plan to exit the Mitchell Lama program which helps subsidize housing for middle-income families, they will keep the existing buildings’ rents within an affordable range. Concerns remain about the new owners maintenance record, the actual availability of vacant landing for new buildings, and the fact that existing the Mitchell Lama program may create such a large tax increase that owners may be forced to raise rents despite promises.
Starrett City Bid Exceeds $1 Billion
Wednesday, February 07, 2007 | New York Sun | Topic: Housing
The New York Sun reports that developer Berkshire LLC has submitted the highest bid for Starrett City, the largest federally subsidized rental unit in the country, which exceeds $1 billion. Other bidders include Related Companies and Apollo Real Estate Advisers. Bids for Starrett City were due on Monday evening. The 5,881-unit apartment complex in East New York is currently up for sale, drawing concern from public officials and residents who fear that a mega sale will make the complex unaffordable.
Starrett City Broker Turns Away Affordable Developer
Tuesday, February 06, 2007 | New York Daily News | Topic: Housing
According to the New York Daily News, broker CB Richard Ellis, who is coordinating the sale of Starrett City, the largest federally subsidized rental property in the United States in East New York, turned down the offer of affordable housing developer Mo Vaughn. Vaughn and his company Omni New York LLC attempted to imitate tactics used by tenant groups during the sale of Stuyvesant Town Peter Cooper Village to prevent a mega sale in upwards of $1 billion. Affordable housing advocates are worried that the impending sale of Starrett City will create a migration of lower and middle-income residents from the complex.
Tenants Rally To Voice Concerns About Starrett City Sale
Saturday, February 03, 2007 | AM New York | Topic: Housing
Starrett City Tenants rallied together on Saturday night to express concerns that a new owner of the apartment complex may raise rents sharply, forcing them out of their apartments. Monday is the deadline for bids for the 140 acre apartment complex. The property is expected to go for over $1 billion dollars. A new owner could exit the state program which provides subsidies for about 2,000 affordable units in the complex, and then raise rents. However the current owners of Starrett City and Spitzer have both stated they support continued provision of affordable housing, and government officials must approve any new owner.
Achievements Listed in Brooklyn's State of the Borough
Friday, February 02, 2007 | NY1 | Topic: Politics & Government
Brooklyn Borough President Marty Markowitz listed a host of the borough's accomplishments in the past year during his annual address, citing in particular his desires to add a second cruise ship terminal in Red Hook, create more lighting on the Parachute Jump in Coney Island, and celebrate another Sundance Film Festival at the Brooklyn Academy of Music. While Markowitz welcomed the Nets to Brooklyn following approval of Atlantic Yards, he signaled worries about the impending sale of Starett City, the federally subsidized housing complex in East New York. Many suspect that a mega sale will displace residents dependent upon affordable housing.
Governor Worried About Starrett City Sale
Friday, February 02, 2007 | New York Times | Topic: Housing
Fearful of another mega sale like Stuyvesant Town and Peter Cooper Village, Governor Spitzer has expressed concern about the possible sale of Starrett City, the largest federally subsidized rental property in the U.S., located in East New York in 46 brick buildings, 5,881 apartments, and 140 acres. Considered a successful, economically and racially mixed housing complex, Starrett City tenants are fearful that a mega sale will force them out of their affordable units. Governor Spitzer, who campaigned on a platform of affordable housing preservation, has the power to approve or reject any new owner of the property. The state holds Starrett City's $234.4 million interest-free mortgage. Tenant groups are preparing to protest the bidding process, while the current buildings' owners assure that a potential sale will not drive tenants out of the complex
State Pledges Starrett City Will Remain Affordable
Monday, January 29, 2007 | New York Daily News | Topic: Politics & Government
The Spitzer Administration has pledged that the sale of Starrett City will not affect the affordability of the complex and has promised to scrutinize all proposed buyers. City, state and federal housing officials have identified incentives that could be used to keep the 5,881-unit housing complex in East New York within reach of low- and middle-income families including a rezoning that would make it more profitable for the new owner to retain the affordable components.
Council Bill Proposes Assessing The Impact Of Large Residential Sales
Monday, December 11, 2006 | City Limits Weekly | Topic: Housing
In the aftermath of the sale of Stuyvesant Town and Peter Cooper Village, City Council members introduced a “Housing Impact Study Bill” in response to concerns that sales of large residential properties are occurring without any government oversight. The bill, co-sponsored by councilmembers Rosie Mendez and Dan Garodnick, would require owners of affordable housing complexes with more than 2,000 units to submit their plans to the Department of Housing Preservation and Development at least 120 days before putting it on the market. City Limits reports on how the impending sale of Starett City has added urgency to passing the bill.
Starrett City Hoping To Complete Sale Within Three Months
Friday, December 01, 2006 | Commerical Property News | Topic: Housing
Starrett City Associates is hoping to take advantage of the current confluence of positive market factors to reach an advantageous sale agreement for its 140-acre apartment complex. SCA believes that acquisition of the property could be completed within three months. Current estimates for the property's value range between $800 million to $1.2 billion. Given the unique issues created by Starret City’s large proportion of rent subsidized apartments, bidders may choose to partner with management firms in their efforts to acquire the property.
Brooklyn’s Starrett City Up For Sale
Friday, December 01, 2006 | New York Times | Topic: Housing
Starrett City, the nation’s largest federally subsidized housing complex, is going up for sale. Also known as Spring Creek Towers, the 46-tower Starrett City in Jamaica Bay is home to 14,000 residents, 90% of whom receive direct federal rent subsidies. CB Richard Ellis, the brokers who recently sold Stuyvesant Town, will be handling the sale of Starrett City. Some tenants and elected officials fear that a sale will displace middle-income tenants.