The city will also invest $16 million into senior housing on the Lower East Side
There’s finally some positive coming out of the scandal surrounding the Rivington House sale on the Lower East Side. The city has announced that it will use the $16 million it received to lift the deed restriction on the property towards community projects on the Lower East Side, the Wall Street Journal reports. What’s more, the administration has also announced several changes to existing process for lifting deeds.
The administration has been under increasing scrutiny in the last few months with almost half a dozen investigation focused on Rivington House. After the city lifted the deed restriction, Allure Group sold the building, which was supposed to be used as a nursing home, to a condo developer for a $72 million profit.
The changes introduced by the administration include deed changes going through several stages of approval, and only taking place in rare instances. Instead of the Department of Citywide Administrative Services approving the change out right, they would have to present their findings to various other city departments before moving forward.
Owners intending to sell will also have to make that information public prior to the city considering a deed change. And those changes will also require input from the local community board, and borough presidents.
On the Lower East Side, those $16 million will now be used to fund senior housing and to look into options for additional nursing home beds in the neighborhood.
- Lower East Side to Get $16 Million Investment [WSJ]
- City Officials Scrambled To Reverse Rivington House Deal Before It Went Public [Curbed]
from
http://ny.curbed.com/2016/7/8/12131538/city-adjusts-deed-restriction-policy-after-rivington-house-scandal
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