BK officials threaten to revoke sale of Starrett City

The sale of an affordable housing complex has been creating quite the stir among its tenants, and now, Brooklyn officials are joining the fight.Clipper Equities

BROOKLYN - The sale of an affordable housing complex has been creating quite the stir among its tenants, and now, Brooklyn officials are joining the fight.Clipper Equities bought the affordable housing complex, previously known as Starrett City, for $1.3 billion. The company insists it is planning to keep rents low, but tenants and officials are skeptical. Now, New York Democratic Senator Charles Schumer is saying the sale is still pending federal approval. He is threatening to revoke the deal if the company doesn?t keep its promise.Starrett City is the largest government-subsidized housing complex in the U.S. The purchase is also pending approval from the Housing and Urban Development (HUD) board. Schumer insists HUD Secretary Alfonso Jackson stands behind affordable housing.

Related Information Brooklyn politicians demand hearing on Starrett City sale Brooklyn residents protest billion-dollar sale of Starrett City

To view New York Senator Charles Schumer's speech about the sale of Starrett City, go to channel 612 of your iO digital cable box and click on iO Extra.

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