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Deals & Dealmakers

NYCHA fixers serve up some holiday cheer

The Arker Companies, in partnership with Omni New York, Dabar Development Partners and Bedford Stuyvesant Restoration Corporation, recently hosted a giveaway of more than 2,600 turkeys to New York City Housing Authority (NYCHA) residents in nine developments across Brooklyn.

The Arker Companies and partners were selected earlier this year to repair, refurbish and manage these NYCHA sites as part of the Permanent Affordability Commitment Together (PACT) program.

The turkey donation aims to bring a bit of holiday cheer ahead of the anticipated completion of the NYCHA PACT with the Brooklyn portfolio. Expected to begin early next year, all 2,625 apartments will see full kitchen, bathroom, window and floor repairs, as well as building wide improvements, such as elevators, security, and heating system upgrades.

Overall more than 6,300 residents will benefit from the program.

“Our turkey giveaway is a great opportunity to celebrate Thanksgiving and this new partnership,” said Simon Bacchus of The Arker Companies. “We are excited to get to work on these critical repairs and modern amenities for the thousands of New Yorkers who live in the Brooklyn PACT bundle.

Every family was offered a turkey who lives in the nine NYCHA developments included in the Brooklyn PACT portfolio:

In May, NYCHA selected Brooklyn Housing Preservation Experience LLC, a joint venture with the Arker Companies, Omni New York LLC, Dabar Development Partners, and Bedford Stuyvesant Restoration Corporation to oversee the development, management, and social services plans for the Brooklyn PACT portfolio.

Launched in 2015, PACT is one of three main tools under NYCHA 2.0 to help drive much-needed money into public housing infrastructure citywide while safeguarding long-standing tenant rights and protections.

PACT allows NYCHA to completely renovate developments using HUD Section 8 conversion programs by shifting the apartments to project-based Section 8 funding, and the buildings will be managed by the partners.

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