There's a cautionary tale about the affordable housing group Community Preservation Corporation, which got caught up in the luxury condo housing boom and lost its shirt when its attempt to develop the Domino sugar refinery site in Brooklyn went south. "The group's problems suggest how the siren song of the explosive real estate market in the middle of the last decade seemed to warp the priorities of even stalwart nonprofit housing providers. " [NYT]
Filed under:
Loading comments...