NYCHA Real Estate Development

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:?

Thank you JPMorgan Chase Commercial Banking for supporting and showcasing the amazing work Wavecrest Management Team and MDG Design & Construction are doing to reinvest in, restore and rebuild Williamsburg Houses!

We kicked off Climate Week yesterday with U.S. Department of Housing and Urban Development Acting Secretary Adrianne Todman, and our PACT Partners THE ARKER COMPANIES, Dabar Development Partners LLC, Renewal Construction Services LLC, and SBV RE at Berry Street! Acting Secretary Todman heard about how the PACT program supports New York City Housing Authority (NYCHA)'s Sustainability Agenda Goals and how our PACT partners provide residents with comprehensive building and apartment repairs. Watch some coverage of her visit below:

ICYMI: Affordable Housing for Older Adults Opens in Brooklyn! ?? This summer New York City Housing Authority (NYCHA) and partners celebrated the opening of The Atrium at Sumner, a 100% affordable housing building for older adults in Bedford-Stuyvesant, Brooklyn. With 190 affordable units, including 33 specifically set aside for #NYCHA residents, this development offers a safe and supportive home for many. Idell Stith, 65, is one of the lucky new residents who secured her spot through the housing lottery, moving into a beautiful one-bedroom apartment. Mayor Adams joined the ribbon-cutting ceremony, celebrating this achievement made possible by the NYC Department of Housing Preservation & Development, New York City Housing Authority (NYCHA) and the New York City Housing Development Corporation. The Atrium was designed by Studio Libeskind, known for iconic work like the One World Trade Center, and is exclusively for older New Yorkers. “By activating underutilized land on our property, we are able to provide NYCHA seniors with beautiful, affordable housing,” NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia said. “We are also providing the Sumner development with new community space, access to services, and beautified grounds. This building is a shining example of how NYCHA and other City agencies can come together to reinvest in, rebuild, and restore our NYCHA communities.” Credit PIX11 #AffordableHousing

Utopia restored. Harlem River Houses is what all American public housing could have been with the right funding and maintenance. Congrats to NYCHA Real Estate Development, L+M Development Partners LLC, and Settlement Housing Fund for the great work. #Publichousing #nycha #affordablehousing