More cities are facing a looming question: what should they do with hundreds of unsold luxury condo units?
A Brooklyn developer who couldn’t sell his luxury condos has taken a novel approach: he’s housing the homeless, according to the New York Daily News. The 67-unit development in Crown Heights didn’t sell its luxury condos, priced between $250,000 and $350,000, so the developer signed a 10-year contract with the Bushwick Economic Development Group to turn the building into a shelter for homeless families.
The Daily News reports that the city is paying
