Clinton Hill Leader Rallies Against Privatization Of St. James Place Towers

Clinton Hill Leader Rallies Against Privatization Of St. James Place Towers

By Sarah Kaufman (Patch Staff) - February 24, 2017 11:27 am ET 

This article was originally written by Kings County Politics and is posted here in partnership with Patch:

CLINTON HILL, BROOKLYN — City Council Member Laurie A. Cumbo (D-Fort Greene, Clinton Hill, Prospect Heights, Crown Heights) yesterday joined shareholders and elected officials in rallying against the potential privatization of the St. James Place Towers, 21 Saint James Place, a 326-residential unit complex, which was developed under the state Mitchell-Lama program.

Named for former State Sen. MacNeil Mitchell and former Assemblyman Alfred Lama, the program created in 1955 to provide affordable rental and cooperative housing to moderate- and middle-income families. Currently, there are 95 City-supervised Mitchell-Lamas. However, a total of 62 Mitchell-Lama developments or 19,622 cooperative and rental units have withdrawn from the program since the first buyout in 1989.
 

“To lose 21 Saint James Place to privatization would be a major step backwards for our community and for our efforts to preserve and create affordable housing. Mitchell-Lama provided permanently affordable housing for a whole generation of working class families and in this case, the pride and influence that comes with being a stakeholder in a thriving community as well. We have a responsibility to ensure affordability for the next generation as well, especially in an environment where the cost of housing has risen exponentially with no end in sight,” said State Sen. Velmanette Montgomery

To read the entire story, visit: http://patch.com/new-york/fortgreene/clinton-hill-leader-rallies-against-privatization-st-james-place-towers