Tenants gear up for round two against Starrett City purchase

As Starrett City residents finish up celebrating their win against developer Clipper Equities, they now have to gear up for round two of the purchase

EAST NEW YORK - As Starrett City residents finish up celebrating their win against developer Clipper Equities, they now have to gear up for round two of the purchase battle.

Two weeks after federal officials blocked the sale of Starrett City to Clipper Equities, there is word of a new bid to take over the federally subsidized apartment complex. Clipper Equities is revising its $1.3 billion bid. The group told News 12 Brooklyn, ?We are preparing a plan that will assure affordability for current and future residents of Starrett City and anticipate submitting that plan to officials later this week.?

Federal officials had serious concerns with Clipper Equities? first bid. Tenants and officials were concerned about whether the company would preserve the complex?s 6,000 subsidized apartments. Now, many tenants are worried services will get cut if Clipper Equities is successful with its second purchase attempt.

Tenant leaders and residents will meet March 14 at 7:30 p.m. to discuss the revised bid. The meeting will be held at the Brooklyn Sports Club at Starrett City.

Related Information:Starrett City residents claim victory after government blocks sale HUD strikes down Starrett City sale to developer Brooklyn residents protest billion-dollar sale of Starrett City

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