Residents of 640 Riverside Dr. were promised affordable home ownership. Instead, they got a 400 percent rent hike.

The rent for tenants of 640 Riverside Dr. increased to $2,000 per month on Oct. 1. The 400 percent hike comes 25 years after the city promised to convert the tenants’ low-income apartment building into an affordable housing cooperative. After construction delays and mismanagement, residents said they are still…

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