Private housing could be coming to NYCHA’s Fulton Houses in Chelsea

City is considering demolishing 2 smaller buildings and replacing them with a larger one

TRD New York /
Apr.April 22, 2019 09:00 AM
Chelsea's Fulton Houses at 119 9th Avenue and Mayor Bill de Blasio (Credit: NYCHA Redux via Parsons the New School for Design and Getty Images)

Chelsea’s Fulton Houses at 119 9th Avenue and Mayor Bill de Blasio (Credit: NYCHA Redux via Parsons the New School for Design and Getty Images)

Mayor Bill de Blasio’s administration is considering partnering with private developers to tear down and rebuild some New York City Housing Authority properties.

Officials want to take this approach at Chelsea’s Fulton Houses, as they believe the land there is valuable enough to net them a profit that would fund capital needs at the complex, where repairs are expected to cost $168 million over five years, according to Politico.

Under the plan, workers would demolish two smaller buildings at Fulton and replace them with a larger one. The city would construct two new buildings on a parking lot in the complex and relocate residents there.

The new larger building would be split between 70 percent market-rate units and 30 percent affordable ones.

The project is part of the federal Rental Assistance Demonstration program, which moves complexes into the Section 8 program. De Blasio said in November that the city plans to use this program to repair 62,000 NYCHA apartments over 10 years.

Local elected officials had mixed feelings about the plan. Council Speaker Corey Johnson has seemed open to the idea, but state Sen. Brad Hoylman told Politico he was “very concerned about the movement toward privatization in New York City’s public housing stock.”

“The success of this approach is really dependent on the continued strength of the housing market,” he said. “What happens if a developer goes belly up?” [Politico] – Eddie Small


Related Articles

arrow_forward_ios
From left: 1 West End Avenue, 161 West 13th Street and 66 Ninth Avenue (Credit: StreetEasy and Wikipedia)

Porter House penthouse among NYC’s 5 priciest homes to hit the market last week

15 East 90th Street (Credit: Google Maps)

Lonely townhouse finds a match after years on market

From left: renderings of 1 Propect Park West, 85 Jay Street and 98 Front Street in Brooklyn (Credit: StreetEasy)

The priciest Brooklyn condo filings of 2019

60 East 93rd Street and Carlton Hobbs (Credit: Google Maps and Getty Images)

Why a $68M townhouse listing was abruptly pulled off the market

Zillow President Jeremy Wacksman

Zillow launches its high-stakes home-flipping business in LA

Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

From left: the Ritz-Carlton, 32 East 1st Street, 560 West 24th Street, 301 East 80th Street and 32 West 85th Street

Five priciest homes new to market include 1897 townhouse

Melania La Rocca

Buildings commissioner talks priorities in final de Blasio years

arrow_forward_ios