This past December, the New York Times reported on how the British real estate firm Dawnay Day collapsed financially and left the future of its 47 East Harlem buildings up in the air: LINK. Many of the low-income, mostly Mexican tenants were left unsure what the future will bring and if the new building owners would try to also convert the apartments into market rate housing. City Limits published a follow-up to this story a couple of weeks ago and Hope Community LDC is now trying to step in and take ownership of the properties. Hope Community LDC was started in 1968 to reclaim abandoned buildings and convert them into low-income housing. The problem now is that they have recently entered the mixed-income market and the former Dawnay Day tenants are not so sure that the intent to preserve affordable housing will come hand-in-hand with fixing up the old buildings. Read more in City Limits: LINK
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