City finds new site to replace senior housing lost in Rivington House deal

Administration will subsidize 100 apartments

TRD New York /
Jan.January 09, 2018 09:50 AM
 

Beth Hamedrash Hagadol synagogue and Mayor Bill de Blasio (Credit: Howard Zimmerman Architects/Landmarks Preservation Commission and Getty Images)

The city has found another location for senior housing to replace the nursing home lost in the controversial Rivington House deal.

The de Blasio administration plans to subsidize 100 apartments for seniors near the Beth Hamedrash Hagadol Synagogue, which was demolished after a fire last year, Politico reported. In 2016, the city selected 30 Pike Street for new senior housing, but subsequently determined that the city-owned site wasn’t development friendly.

According to Bowery Boogie, last year the Chinatown Planning Council Housing Development Fund Company moved forward with plans to expand a senior facility at 50 Norfolk Street onto the neighboring synagogue site. Expanding the planned project to include city-subsidized units allows the mayor to keep his promise to pay at least $16 million to replace the senior housing lost in the Rivington House sale.

In 2015, Allure Group paid the city $16 million to lift restrictions on the deed for the Lower East Side nursing home. The company then turned around and sold the property to investors, including developer Slate Property Group for $116 million. The mayor claimed Allure hid its true intentions and had promised to reposition the home as a for-profit nursing center.

Last week, New York State Attorney General Eric Schneiderman announced that he reached a settlement with the Allure Group, following an investigation into the developer’s practice of closing deed-restricted nursing homes and then converting them into luxury residential properties. As part of the settlement, Allure agreed to open two new nursing homes in Manhattan and Brooklyn. [Politico]Kathryn Brenzel


Related Articles

arrow_forward_ios
Alexandria Ocasio-Cortez, Bernie Sanders and Elizabeth Warren

By the numbers: Breaking down national housing agendas from the far left

California passes landmark rent control law

Nuveen CEO Vijay Advani, Blackstone President & COO Jonathan Gray and one of the Texas properties

Blackstone just sold off a 29M sf national industrial portfolio

The purge continues: WeWork’s head of real estate is leaving

Judith and Rudy Giuliani Rudolph and Judith Giuliani are divorcing after 16 years. (Credit: Getty Images, Trulia, Highrises)

Luxury properties at play in Rudy Giuliani’s ugly divorce

When Bill de Blasio announced the end of his campaign, the industry reacted largely with relief but not surprise (Credit: Getty Images and Pixabay)

De Blasio’s campaign is dead, and real estate is happy

Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Slate Property Group’s David Schwartz and 45 Rivington Street (Credit: Google Maps)

Mystery buyer snaps up controversial Rivington House for
$160 million

arrow_forward_ios