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A six-way joint venture will renovate the communities, which are owned by the New York City Housing Authority and home to some 2,900 residents.
Sixteen Manhattan public housing properties will be the latest developments to get much-needed repairs as part of the New York City Housing Authority’s Permanent Affordability Commitment Together (PACT) program. The improvements, that will impact more than 2,900 residents, will include new bathrooms, kitchens and flooring in apartments as well as replacements of heating systems and full elevator rehabs.
Residents of the 1,718 apartments will be allowed to remain while the renovations and upgrades are made to the units and common areas. Major enhancements to the buildings’ security, elevator and heating systems will be prioritized for each development, as well as other needs identified by residents, during a collaborative process that will take place over the coming months.
A joint venture of six qualified partners called the PACT Renaissance Collaborative will oversee the rehabilitation of the 16 Manhattan developments and coordinate enhanced social services delivery to the residents. The partners are: Community Preservation Corp. (CPC); The Community Development Trust (CDT); Monadnock Development LLC; Lemor Development Group; Kalel Holdings LLC and the Community League of the Heights (CLOTH).
NYCHA said partners providing social services to the community that will supplement those provided by the developers include: Goddard Riverside Community Center, Riverstone Senior Life Services, Dominican Women’s Development Center, Urban Upbound (ERDA) and ARC XVI Ft. Washington.
Deputy Mayor for Housing and Economic Development Vicki Been said the renovations are a big step toward fulfilling the promises made in the NYCHA 2.0 plan to repair and rehab buildings and apartments, improve management and provide more robust services for residents of the following properties: 335 East 111th St.; Park Avenue-East 122nd, 123rd streets; Manhattanville Rebab (Group 2); Manhattanville Rehab (Group 3); Public School 139 (Conversion); Samuel (MHOP) I; Samuel (MHOP) II; Samuel (MHOP) III; Fort Washington Avenue Rehab; Grampion; Washington Heights Rehab (Groups 1 & 2); Washington Heights Rehab Phase III; Washington Heights Rehab Phase IV (C); Washington Heights Rehab Phase IV (D); Wise Towers and 344 East 28th St.
NYCHA, PACT PLANS
This will be the eighth PACT transaction to close and the third to directly involve the New York City Housing Development Corp. (HDC) as a financing partner. Under PACT, these apartments will shift to project-based Section 8 funding and the buildings will be managed by the development partners. NYCHA retains ownership of the buildings and land.
Launched in 2017, PACT is one of three main tools under NYCHA 2.0 to get much-needed financing into the public housing infrastructure citywide while safeguarding tenant rights and protections. PACT allows NYCHA to renovate the properties using HUD Section 8 conversion programs, including the Rental Assistance Demonstration (RAD) program, Tenant Protection Voucher (TPV) funding and Part 200 disposition to keep the units affordable. The funding is designed to address up to about $31.8 billion in capital needs at NYCHA properties over the next decade.