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Town housing committee: Skyrise buyout bid fell short; tenant outreach and pantry partnership planned
Summary
Housing Smart Committee said its highest feasible offer to acquire the Skyrise apartment complex lost to another buyer; the committee will now engage seniors at the adjacent senior complex about tenant support and is partnering with the Phoenicia Food Pantry, backed by a small grant, to supply summer youth program meals.
Vicky Starr of the Housing Smart Committee updated the board about a months‑long effort to consider acquiring the Skyrise apartment complex to limit rent increases after a pending sale. The committee conducted financial due diligence and determined a maximum offer it could make without immediately increasing rents and while preserving operating capital for necessary renovations; that maximum was lower than the sellers' ask and the property was sold to another buyer.
"The maximum amount was lower than the sellers were looking for," Starr said, adding that the committee's agent learned the buyers appear to be local and had told the seller they did not plan to raise rents immediately. Starr cautioned that details could change during closing and said the committee will monitor the situation, engage nearby senior residents who have reported landlord issues, and offer tenant support where possible.
Starr also said the Catskill Alliance for Housing is partnering with the Phoenicia Food Pantry to provide healthy breakfasts and lunches for the town's summer youth program; the pantry will consider expanding hours and this partnership is supported in part by a small Hudson Valley Foundation grant for youth health.
Provenance: topicintro SEG 1138; topfinish SEG 1224.
