Tenant group opposes Stuy Town unit conversion plan

Blackstone wants to change the layout of 115 units at the complex

New York /
Jun.June 30, 2017 04:06 PM

The Stuyvesant Town and Peter Cooper Village Tenants Association is railing against a plan to convert 115 units at the housing complex.

Blackstone Group wants to make changes to the layout of the vacant apartments, Real Estate Weekly reported. The ST-PCV Tenants Association detailed the planned conversion in an email sent to neighbors. The email also outlines the reasons it believes Blackstone should ditch the proposal.

The landlord wants to add another bedroom to some vacant one-bedroom apartments, according to the email. It also wants to combine one- and two-bedroom units next to each other to form three-bedrooms, and create three-bedrooms with one-bedrooms, two-bedrooms and studios.

The association claims the plan “degrades the time-tested, well-designed layout” and “will likely result in an increase in the existing transient rent-a-room lifestyle.” It also said it will “continue to destabilize our once-cohesive community.”

However, a spokesperson for Stuy Town said the project is a response to renters demand for open kitchens and affordability. Blackstone and Ivanhoe Cambridge bought Stuy Town in 2015. As part of a the $5.3 billion deal for the 80-acre complex, the firms agreed to keep 5,000 of its apartments affordable for at least 20 years. [REW]Miriam Hall


Related Articles

arrow_forward_ios
Blackstone CEO Steven Schwartzman and Stuyvesant Town (Credit: Getty Images)

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies

After authorities vowed review of Stuy Town deal, Blackstone changes course on vacancies
(Photo illustration by The Real Deal)

This office redeveloper is going all in

This office redeveloper is going all in
(iStock)

Homebuilder sentiment falls for second month in a row

Homebuilder sentiment falls for second month in a row
Clare Newman with Governors Island (Credit: Governors Island, Getty Images)

Governors Island redevelopment opposed as excessive

Governors Island redevelopment opposed as excessive
(iStock)

Homebuying up again, but rising mortgage rates depress refinancing

Homebuying up again, but rising mortgage rates depress refinancing
The two most expensive contracts signed last week were condos at One Prospect Park West. (Douglas Elliman)

Brooklyn luxury market roars back to life

Brooklyn luxury market roars back to life
Fidelity’s Raymond Quirk (iStock)

Title insurers launch new closing tools as homebuying rises

Title insurers launch new closing tools as homebuying rises
Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building

Corcoran to sublet 50K sf in IBM Building
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...