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Trustees terminate affordable housing trust agreement with developer after project deemed financially unfeasible
3514393 · May 22, 2025
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Summary
Tayo trustees approved terminating an Affordable Housing Trust Fund agreement with G4 MF Midtown after the developer said converting a nearby extended-stay motel into 65 affordable units is financially infeasible given low lease-up at a comparable site.
Trustees approved terminating an Affordable Housing Trust Fund agreement between Tayo and G4 MF Midtown that had supported a planned conversion of an extended-stay motel into 65 affordable housing units.
Staff said the developer completed a…
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