Starrett City Sells For $850M, Donald Trump Stands to Profit

September 7, 2017                                  By: Matthew Rothstein

The largest affordable housing project in America has been sold, pending approval from the Department of Housing and Urban Development.

Starrett City, virtually an ecosystem unto itself between the East New York and Canarsie neighborhoods in Brooklyn, is under agreement for a sale to a joint venture of recently formed Brooksville Co. and Rockpoint Group for over $850M, the New York Times reports. The sale is expected to close in 2018.

The 145-acre Starrett City is home to a racially diverse mix of low, moderate and middle income families with 100% designated affordable units. The 46-building, 5,881-unit complex has its own ZIP code, school system and power plant. All told, it houses at least 15,000 residents.....................Read More