Housing Complex

Upscale Condos Turned into Homeless Shelter

Here's an interesting story out of New York City, specifically Crown Heights Brooklyn: A developer has signed a ten year contract to rent out luxury condo units to homeless families, according to the New York Daily News. The units, priced between $250,000 and $350,000, include granite countertops, terraces, marble bathrooms, and closets so big "you could put a ou could put a twin bed in there," according to one occupant.

The building, located in one of Brooklyn's fringe neighborhoods, was first marketed last summer. But with the housing market crashing last fall, the building's owner became open to anything to save his property from going into foreclosure. He signed a contract with the local Bushwick Economic Development Group, who is in turn being paid by the city to operate the homeless shelter at the condo high-rise.

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