By Maria Rocha-Buschel
The owner of Stuyvesant Town and Peter Cooper Village, has confirmed it will not purposely keep rent-regulated apartments vacant following criticism from local elected officials after reports that the company was doing so, Gothamist reported last Friday.
The position was a shift from earlier last week when the owner, Blackstone, would not commit to leasing all the regulated units, a strategy often referred to as “warehousing.” Gothamist also noted that the promise came after Mayor Bill de Blasio said that city officials would need to have “some serious conversations” with the company about the agreement it signed to keep the units affordable.
“We are renovating and leasing all vacant units, and we will continue to fulfill our commitment to voluntarily preserve 5,000 affordable apartments,” Blackstone spokesperson Jennifer Friedman told Town & Village, although she added that the company will still have to make “difficult choices” and “scale back certain investments” in light of the recent legislation.
Blackstone is now actively renting out all vacant units, although the company has spent the last several weeks working through how to conduct renovations, especially in recently-vacated apartments that have been occupied for decades.