NYCHA Real Estate Development

We are thrilled to share that we've closed on the financing for the Manhattanville Houses PACT project! Congratulations to our residents, and PACT partners Gilbane Development Company, Apex Building Group, Inc., & West Harlem Group Assistance, Inc. on reaching this critical milestone. TA President Veronica Nieves worked closely with NYCHA and the partner team to ensure that rehabilitation plans addressed resident priorities. In our announcement she shares, “The PACT partner team has been talking with and listening to residents here for a long time to make sure the project would address their biggest needs and concerns, and now we’re finally here. Manhattanville residents will start to see the improvements and the changes in quality of life that they’ve deserved for many years." Read more in the post linked below:

Celebrating Construction Progress at Reid Park Rock 🏡 On November 14, New York City Housing Authority (NYCHA)'s #PACT partners—BRP Companies, Fairstead and Urbane—hosted a tour at Rutland Towers to showcase improvements under a $635.6M PACT project in East Brooklyn. 🏗️ Under PACT, nearly 1,700 apartments will be fully rehabilitated for nearly 3,500 NYCHA residents living in the Reid Apartments consolidation, which includes Rutland Towers, and the Park Rock Consolidated bundle. Across the Reid and Park Rock project – consisting of 87 buildings throughout East Brooklyn – apartment kitchens and bathrooms will be fully renovated, buildings will receive facade repairs and new layered access systems, and common areas (including lobbies and outdoor spaces) will be upgraded extensively. Social services for the developments were expanded through a partnership with Black Veterans for Social Justice, which offers case management services to all households, including by supporting access to healthy food, employment opportunities, youth activities, and senior services. Together, we're creating safer, more vibrant communities! 🔗 https://on.nyc.gov/4fUXbeg #NYCHA #CapitalInvestment

Take a look at the incredible PACT investments at Williamsburg, made possible through our partnerships with residents, the support of the City, and the commitment of our partners like MDG Design & Construction, Wavecrest Management Team and JPMorgan Chase Commercial Banking. Williamsburg demonstrates what is possible when we all work together to provide real solutions for New York City's public housing residents.

I had the pleasure of talking about resident-centered engagement and decision-making in NYCHA Real Estate Development's PACT program at last month's annual American Planning Association NY Metro Chapter conference, alongside resident leader Rosa Pinero, resident advisor Majed Abdulsamad, AICP, and PACT partner Danny Cabrera. Read more about it, below!

Exciting news about the proposed redevelopment of Fulton and Elliott Chelsea Houses, by NYCHA and its partners Essence Development and Related Companies. Read more about the opportunity and how important this project is for the city in Michael Kimmelman's piece in the NYTimes today.

Today we celebrated the completion of the $492 million PACT renovation at Williamsburg with our NYCHA residents, MDG Design & Construction, Wavecrest Management Team, and the greater New York City Housing Authority (NYCHA) community! Through the PACT program, over 1,600 households now have lead-free homes, fully renovated apartments, buildings, beautified walkways, playgrounds, basketball courts, and other community spaces. The historic renovation was the first PACT project in New York City to leverage Historic Tax Credits. As NYCHA Real Estate Development's Jonathan Gouveia said, "The Williamsburg PACT project is a fantastic example of how NYCHA can leverage our partnerships to provide residents beautiful, safe, and affordable homes....This work would not be possible without the continued partnership of our residents, the support of the City, and the commitment of our partners. Williamsburg demonstrates what is possible when we all work together to provide real solutions for New York City's public housing residents." Thank you to our many partners for their continued support of the program New York City Housing Development Corporation, JPMorganChase, U.S. Department of Housing and Urban Development & Regional Administrator Alicka Ampry-Samuel Read more about the renovations in the press release linked below: https://lnkd.in/eZDU8_F4

🏠 NYCHA & HPD Celebrate Completion of 19 Rehabilitated Homes for First-Time Homebuyers 🏡 New York City Housing Authority (NYCHA), in partnership with NYC Department of Housing Preservation & Development and Neighborhood Restore HDFC, has completed the rehabilitation of 19 homes across Brooklyn, the Bronx, and Queens. This initiative is providing life-changing opportunities for low- and moderate-income families, including 13 NYCHA residents who now own their first homes. These homes are not just houses—they represent stability, generational wealth, and a renewed sense of community. Congratulations to the new homeowners! 🎉 Story from The Bronx Daily: https://lnkd.in/dvzP9U7D #AffordableHousing #HomeOwnership #NYCHA

Congratulations to the residents of Frederick Samuel Apartments, Boston Secor, Boston Road Plaza and Middletown Plaza for moving forward with New York City Housing Authority (NYCHA)'s PACT Program. Thank you to the New York Post for calling for faster progress with PACT. Building on some of the facts shared in the editorial, there are currently almost 38,000 apartments, across 139 developments in all five boroughs, in the PACT program. Our private sector partners - joint ventures between developers, property managers, and general contractors - will deliver comprehensive renovations, environmental hazard abatement, and critical modernizations to our properties and address almost $13 billion in capital needs. However, there is one important clarification needed: PACT is a true public-private partnership. After a PACT conversion, the land and buildings continue to be owned by NYCHA and NYCHA continues to provide strong oversight of PACT sites. Finally, and most important, residents at PACT converted developments continue to receive the same robust tenant rights and protections they had under conventional public housing. The PACT model allows NYCHA to make significant progress toward reinvesting in, restoring and rebuilding NYCHA's housing stock, while maintaining public control and oversight.

Three Bronx communities will soon receive investments that will make their homes safe, affordable, and accessible for generations to come! We are so excited to share that we closed $419M in capital financing through the PACT program for Boston Secor, Boston Road Plaza, and Middletown Plaza. “Our NYCHA communities, including our senior communities, deserve to live in homes that not only meet their needs but allow their community to thrive,” said Executive Vice President for Real Estate Development Jonathan Gouveia. Congratulations to our residents and PACT partners for reaching this milestone! Beacon Communities LLC, Kalel Companies, MBD COMMNUNITY HOUSING CORPORATION, Wavecrest Management Team, New York City Housing Development Corporation, New York City Housing Authority (NYCHA), New York City Mayor's Office of Management and Budget, U.S. Department of Housing and Urban Development Read more about the planned investmests in the press release linked below:

We are proud to share that residents at Frederick Samuel Apartments will soon see repairs to their apartments and buildings through NYCHA's PACT program! NYCHA Real Estate Development closed on the financing of $384 million in capital repairs for the 40 buildings in Harlem last week. As tenant association president Ms. Blackwell shared, "Now the real work begins! Together we will build a sustainable community creating a place to grow, build and elevate our ideas, families and future. We welcome this awesome opportunity to partner with our developers, who will together help us build the future of affordable housing.” The funding will allow Harlem-based MBEs Genesis Companies, LLC and Lemor Development Group to address resident priorities, including all the capital needs of the buildings and grounds. Read more about the planned investments in our press release linked below: