The sale of Starrett City in Brooklyn, the nation's largest federally subsidized housing project, will go forward after its owners agreed to ensure that it would be preserved as affordable housing.
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(Newsday) -- The owners of Starrett City reached the agreement with federal, state and city officials, allowing the sale of the development to begin this week.
The 140-acre complex was going to be sold for $1.3 billion last year, but the deal was blocked by concerns that the high price would lead the new owner to raise rents on the more than 5,000 apartments.
Now, tenants and housing advocates have embraced the accord that would keep the housing project affordable for its mostly working-class and middle-class residents.
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