|
|
Article: EX-OWNER OF ARBOR HILL HOUSING PROJECT SUES STATE OVER RENTS.(BUSINESS)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- December 28, 1996
CopyrightCOPYRIGHT 1996 Albany Times Union. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: JULIE CARR SMYTH Business writer
ALBANY -- A Stamford, Conn., developer whose investment in the Ten Broeck Manor Apartments housing project went bad has sued the state for keeping its rents too low.
In a recent state Supreme Court lawsuit asking $12.5 million, Arbor Hill Partners and partner F.D. Rich Housing Corp. blame five state agencies -- including the state Division of Housing and Community Renewal and its commissioner -- for the events leading to foreclosure on the 190-unit project in 1993.
Officials at the division could not be reached for comment.
The complex was constructed as part of a program to provide low-income ...