The New York City Housing Authority (NYCHA) announced the selection of the development team that will fully address the physical needs at 16 Manhattan developments.
As part of NYCHA’s Permanent Affordability Commitment Together (PACT) program, more than 2,900 residents will benefit from comprehensive upgrades to 1,718 apartments and common areas.
Those improvements include new kitchens, bathrooms, and flooring in each apartment, all of which will be renovated while residents remain in place. Vital enhancements to the buildings’ elevator, security, and heating systems will also be prioritized for each development, as well as other needs identified by residents via a collaborative process that will take place in the coming months.
“Our residents deserve critical repairs to their homes as soon as possible, and through PACT they will continue to be integral partners in shaping the future of their communities,” said NYCHA Interim Chair and CEO Kathryn Garcia.
“The Authority will keep working with our partners to make sure our residents’ homes are safe, healthy, and affordable for future generations.”
“For 2,900 of the NYCHA residents in Manhattan who have been waiting years for repairs to their apartments, life is going to get better,” said Deputy Mayor for Housing and Economic Development Vicki Been.
“This is 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 social services. The NYCHA 2.0 plan is delivering results for NYCHA residents.”
A joint venture of six qualified partners called the PACT Renaissance Collaborative — Community Preservation Corporation (CPC), The Community Development Trust (CDT), Monadnock Development LLC, Lemor Development Group, Kalel Holdings LLC, and the Community League of the Heights (CLOTH) — will together oversee the rehabilitation and management of the 16 Manhattan developments and coordinate enhanced social services delivery to residents.
This joint venture also includes Community Development Financial Institutions (CDFIs) and M/WBE firms. The 16 developments are:
This will be the eighth PACT transaction to close, and will be the third transaction to directly involve the New York City Housing Development Corporation (HDC).
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, and will ensure that the partners adhere to standards outlined by the Guiding Principles created by the NYC RAD Roundtable to guarantee permanent affordability, deliver high-quality property management, and maintain equivalent tenant rights and protections for all residents.
“HDC is proud to serve as a financing partner on the NYCHA PACT plan as we work to ensure some of our city’s most distressed developments receive the comprehensive improvements they need to remain a valuable resource to the community,” said HDC President Eric Enderlin.
Rafael E. Cestero, President & CEO, The Community Preservation Corporation (CPC) added, “It’s our mission to ensure that these properties get the rehab they need, and that they are preserved as affordable for the thousands of tenants that call them home, and for future generations of NYCHA residents. I thank NYCHA, HDC, CDT, Monadnock Development, CLOTH, Kalel Holdings, and Lemor Development for their partnership.”
“Monadnock is honored to be a part of the latest PACT collaboration with NYCHA. Every member of our team has the same mission and focus – to deliver dignified housing to residents as soon as possible. With this focus, we will advocate for the 2,900 residents in these buildings and work to deliver the results they deserve as New Yorkers,” said Nick Lembo, Managing Partner at Monadnock Development & Chairman at Monadnock Construction.
Harrison Rayford, principal, Lemor Development Group, added, “We are honored to partner with NYCHA to make these much-needed building improvements come to fruition and to make this vital housing stock sustainable for years to come.”
“NYCHA capital repair needs in District 68 alone are estimated to cost $2.8 billion,” said Assembly Member Robert J. Rodriguez. “I’m excited to see these steps taken for the improvements NYCHA tenants have long awaited. It’s critical that tenants are fully included in a collaborative process, and I’m glad to see that their needs will be prioritized.”
Launched in 2017, 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, including the Rental Assistance Demonstration program (RAD), Tenant Protection Voucher (TPV) funding, and Part 200 disposition, all of which ensure long-term affordable housing.
