From the Daily News:
It appears to be the first time a faltering upscale building has found a new purpose as a shelter, said Steven Spinola, president of the Real Estate Board of New York. Neighbors were furious the 67-unit building on East New York Ave., where apartments were supposed to sell for $250,000 to $350,000, has been turned into a shelter. “I’m a hardworking taxpayer, and I don’t think homeless people should be living better than me,” fumed Desmond John, 35, a window salesman who wanted to rent one of the fancy apartments. “They said it’s not for rent. It’s a shelter. I was shocked.” Luxury brokerage firm HQ Marketing Partners started promoting the condos last summer - with the hook that buyers could custom design the units. When the market started to tank in the fall - and his gamble on a fringe neighborhood didn’t pay off - developer Avi Shriki said he had to come up with a Plan B. “When the market went south, we knew we had to do something different,” said Shriki, 44. “With the market being the way it is you have to be creative.” This spring, Shriki signed a 10-year contract with the Bushwick Economic Development Group to turn the building into a homeless shelter.
Nice (hint: sarcasm).
June 7th, 2009 at 8:04 am
I am not sure the distinction between socialism and capitalism is important. Even in a capitalist society the most vulnerable people needs support. I think it is great! A more altruistic approach that is what America needs :-)
June 7th, 2009 at 6:20 pm
I was being sarcastic John. I don’t think governments should be in the business of providing upscale housing to those who can’t afford it. It is a slippery slope. How is need defined? Does everyone get one?
June 8th, 2009 at 9:05 am
The value of the apartments, the building and the neighborhood will be diminished substantially by the end of the 10 year contract. If you live in this neighborhood, you will most likely also be needing government assistance soon. Cancer spreads to nearby healthy tissue unless radical surgery, radiation or chemo is implemented immediately upon diagnosis.
In this case, the cancer has not only been invited in, it will be supported by an outside agent (the do-gooders from your government who know better than you) until the host is destroyed. And the support will be extracted from you under the threat of confiscation by one of the government’s enforcement divisions.