Advocates Worry Blackstone Sale Will Take Affordable Housing Crisis From Bad to Worse
The planned sale of 66 apartment buildings to the New York-based Blackstone Group highlights both the vulnerability of naturally affordable housing and the lack of requirement for owners to notify local governments of plans to unload properties.
The Doriana Apartments in southeastern San Diego are among the apartment buildings being acquired by the Blackstone Group in a pending sale. / Photo by Adriana Heldiz
The Conrad Prebys Foundation, a charitable organization, shocked affordable housing advocates last week when it announced that it would sell 66 apartment buildings to a private equity firm.
On Thursday, May 6, Chase Bank (on the corner of Crenshaw Blvd. and Vernon Blvd.) marked the grand opening of its first community center branch in California, a completely redesigned banking experience for the South Los Angeles community in the Crenshaw District.
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Mayor Mike Duggan will provide an update to the City of Detroit s response to the COVID-19 pandemic at 2 p.m. Thursday.
Duggan is expected to provide updates on Detroit s vaccination efforts, including plans to offer vaccinations to 12-15 year olds in Detroit, following The Centers for Disease Control approval of the Pfizer vaccine for that age group, which is expected as soon as Wednesday. Chief Public Health Office Denise Fair is expected to join Duggan.
Duggan is also expected to announce a major contribution to the Detroit Housing for the Future Fund, a new release from the City of Detroit said.