City will use public-private partnerships to help fix more than 60K NYCHA apartments

NYCHA will repair 62K apartments through Rental Assistance Demonstration program

New York /
Nov.November 20, 2018 11:32 AM

Betances Houses and Mayor Bill de Blasio (Credit: Wikipedia)

The city’s public housing authority intends to fix 62,000 of its apartments over the next decade through public-private partnerships.

NYCHA will expand its participation in a federal program encouraging private partnerships at developments owned by the city, according to the Wall Street Journal. Mayor Bill de Blasio announced the plan Monday at the Betances Houses in the South Bronx, which converted to the federal Rental Assistance Demonstration program on Friday.

RAD moves apartment complexes into the Section 8 program, allowing them to remain affordable and have tenants spend no more than 30 percent of their income on rent. A private company— RDC Development LLC and Catholic Charities — will take over making repairs at the complex, and fixes will start at more than 1,000 apartments in December.

Renovations will include new kitchens and bathrooms, new boilers, and a new security system.

Betances Houses is the third development to join the RAD program, following the Ocean Bay Development in Far Rockaway and the Twin Parks West development in the Bronx.

The announcement comes on the heels of a federal judge rejecting a deal between federal prosecutors and the city to pay for NYCHA repairs for being too vague and not fully addressing the concerns of NYCHA residents.

NYCHA has about 175,000 apartments overall, and they need more than $31 billion worth of renovations.

“We don’t have $31 billion today,” de Blasio said, according to the Journal, “but we believe the plans we are putting forward will help us to get a lot of the resources in and make a huge difference in the lives of residents.” [WSJ] – Eddie Small


Related Articles

arrow_forward_ios
A rendering of 165 Broome Street (Credit: Handel Architects)
Nonprofit plans affordable housing development near Essex Crossing
Nonprofit plans affordable housing development near Essex Crossing
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
All Falls Down: Kanye West’s “Star Wars”-themed affordable housing plan hits snag
371 Clinton Street in Carroll Gardens and 6 Strong Place in Cobble Hill (Photos via Compass)
Townhouse sales dominate Brooklyn’s luxury market
Townhouse sales dominate Brooklyn’s luxury market
Gotham's Joel Picket and David Picket with 538 10th Ave. (Google Maps)
Gotham plans massive mixed-use building on Far West Side
Gotham plans massive mixed-use building on Far West Side
(iStock)
Forbearance rate stubborn among home-mortgage borrowers
Forbearance rate stubborn among home-mortgage borrowers
(Engel & Völkers Market Center, 432 Park)
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sugimoto-curated 79th floor at 432 Park quietly hits market
Sharon Davis and 9 East 81 Street (Google Maps, iStock)
UES townhouse trades 40% below latest appraisal
UES townhouse trades 40% below latest appraisal
The average price of a London home rose above 500,000 pounds, or roughly $685,000, for the first time. (Getty)
London home prices hit new high
London home prices hit new high
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...