The New York City Housing Authority is selling a 50 percent ownership stake in six project-based Section 8 sites, comprising 10 buildings and 874 units, to developers L+M Development Partners and BFC Partners for $360 million, plus another $100 million in additional renovation investments. NYCHA chairwoman Shola Olatoye defended the deal saying that not taking it would have amounted to demolition by neglect. [NYO; previously]
Filed under:
Loading comments...