decision to sell

The first to pose the questions was Councilman Daniel Garodnick; who led the PCVST Tenant Association's bid for the property.

He issued a statement late yesterday afternoon in which he called for the specific plans of the new owner to be made known to the public. "We will want to know precisely how Tishman Speyer intends to preserve the long-term affordability of this community and we expect to see concrete plans," Garodnick states. "We will want to know that Tishman Speyer does not intend to add additional development onto the historic property. We will want to know that Tishman Speyer will be an owner whose benevolence will extend beyond the mere obligations of the law."

Garodnick and thousands of local residents banned together to submit their own bid for the property and the councilman vowed to not step down even with ownership going to a different bidder. "While we were disappointed about the result, we view this as the beginning of a process," Garodnick states in the release. "The tenants of this community are organized--25,000 people strong--and no new owner should doubt our resolve now or in the future.