Buyer tweaks $1.3B Starrett bid

David Bistricer, whose $1.3 billion bid to purchase Starrett City was blocked by federal housing secretary Alphonso R. Jackson last month, has modified his plan to buy the Brooklyn complex in an effort to show he will retain its affordability. Bistricer’s new plan has received support from influential community ministers, and he has hired powerful lobbyists to push his cause. He has also said he had retained well-regarded architectural firm Beyer Blinder Belle to redesign Starrett City, which includes 5,881 units of affordable housing. Federal and state housing officials say they are reviewing Bistricer’s new proposal. more [NYT]
Gov. Eliot Spitzer rejected Bistricer’s revamped bid for Starrett City last night. It will ultimately fall to the federal government to either accept or reject Bistricer’s offer.
more [Empire Zone]