Starrett City is among the largest federally subsidized housing complexes in the United States. The complex, which is the size of a small city, contains 5,581 apartments, a shopping center, schools, and a power plant along with its own zip code. A group of buyers offered to purchase the establishment for $905 million from its shareholders, who happen to include President Trump. The sale looked as though it would proceed without issue, but a group of dissident shareholders is now making efforts to block the sale. This move leaves Starrett City’s 15,000 residents uncertain about the future of their home.
See Charles V. Bagli, The Messy Family Battle for Starrett City, The New York Times, October 31, 2017.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.
