Monday, October 13, 2014

Public $ + private developer renovating East New York buildings

East New York facelift underway for 63 buildings

A private developer backed by financing from city and state housing agencies is overhauling 468 rent-stabilized apartments in the Brooklyn neighborhood.

Monday, October 13, 2014, 2:00 AM
Home sweet renovated home.
An ailing cluster of affordable apartment buildings in East ew York is getting a long-awaited overhaul.
“It makes you feel good,” said Cherise French, 36, who lives in one of the spruced-up two-bedrooms. “You can sleep in peace.”

French’s home on Williams Ave. is part of a 63-building package of subsidized apartment complexes scooped up by a private developer and financed by city and state housing agencies and Goldman Sachs.

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