A family of three earning up to $128,210 a year, for example, would pay a rent of $3,205 a month for a two-bedroom apartment. Under the new agreement with the de Blasio administration, 4,500 apartments would be reserved for middle-income families. The debt-laden owners ultimately lost the complex to their lender when they ran out of money. That sale set off an outcry over the loss of affordable housing to speculators in New York, as the buyers sought to replace longtime, rent-regulated residents with tenants who paid far higher rents. The Blackstone deal, expected to be signed by Tuesday morning, stands in stark contrast to the last time the complex sold, in 2006, for a record-setting $5.4 billion. The 110 plain redbrick buildings that make up the complex have been at the center of a roiling debate over housing in a city where prices have sailed beyond the reach of not only the poor but also many middle-income New Yorkers. “We weren’t going to lose StuyTown on our watch.” de Blasio said in a statement released on Monday afternoon. “This has been a priority for us since Day 1,” Mr. Up to now, tenant activists and elected officials have feared that Stuyvesant Town’s 65-year history as a middle-class bastion was ending. de Blasio, who has made affordable housing a central tenet of his administration. The agreement, which covers a high-profile complex that symbolized the rapidly changing nature of New York City housing, represents a victory for Mr. The sale, to the Blackstone Group, a Wall Street investment firm and one of the country’s largest landlords, includes an unusual regulatory agreement with the administration of Mayor Bill de Blasio that would ensure that a block of 5,000 apartments would be affordable for the next 20 years for families of teachers, construction workers, firefighters and others who have traditionally made their homes at Stuyvesant Town. With two SamTrans bus lines within 1,500 feet (450 m) of their apartments, senior residents have easy access to downtown, as well as many other parts of the San Francisco Bay area.Stuyvesant Town-Peter Cooper Village, the largest apartment complex in Manhattan, is expected to be sold for more than $5.3 billion, an agreement that will preserve nearly half the 11,232-unit complex for middle-class families, according to officials involved in the negotiations. The ten-acre (4 ha) campus includes an additional 104 affordable homes, an adult day health center, and a senior community center and is just steps away from downtown Half Moon Bay and community amenities that include a public library, supermarket, and pharmacy. Half Moon Village provides a model for best practices in providing high-quality affordable housing for the growing population of seniors.Īn integral component of the project is the extended Half Moon Bay Senior Campus, giving Village residents access to health and social services that provide a continuum of care so they can age in place. Residents have access to bright apartments (some with views of the Pacific Ocean), a tree-lined pedestrian walkway, community gardens, a bocce court, heated outdoor patios, outdoor sculptures, a fitness center, a computer lounge, and community rooms. The Half Moon Village apartment community provides 160 rental homes affordable to low-income seniors in the nation’s most expensive rental housing market. Half Moon Village is the result of a vision held by the city of Half Moon Bay and San Mateo County to transform an underused site into an innovative community for seniors. Location: Half Moon Bay, California, United Statesĭesigner: Herman Coliver Locus Architecture
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