The New York City Housing Authority (NYCHA) has picked three more developers to help renovate 1,700 public housing apartments spread across 17 different communities in the Bronx and Brooklyn.

January 19, 2018 Comments Off on Developers Plan to Renovate 1,700 Crumbling Public Housing Apartments Views: 3542 Downtown New York, New York News

Developers Plan to Renovate 1,700 Crumbling Public Housing Apartments

The New York City Housing Authority (NYCHA) has picked three more developers to help renovate 1,700 public housing apartments spread across 17 different communities in the Bronx and Brooklyn.

They include some of NYCHA’s most challenging buildings, many at smaller, low-rise properties. The $300 million in renovations will upgrade systems like heating and elevators, as well renovate resident apartments. This latest news will bring the total number of public housing apartments to 3,077 that will be renovated, with $640 million in total new investment through NYC’s version of the federal Rental Assistance Demonstration program.

NYCHA has selected Gilbane Development Company, Dantes Partners, Apex Building Group, and The Kraus Organization for the first bundle of developments in the Bronx; RDC Development for the second bundle also in the Bronx; and Hunt Development Group and Pennrose Properties for the Brooklyn bundle.

Read More at NYCHA

For comments, questions or concerns, please contact our New York commercial real estate editor Bendix Anderson


Get CRE News in 150 words

Tags: , ,

Comments are closed.