A consortium of private developers recently closed on a $600 million loan to complete renovations and infrastructure upgrades across a 1,673-unit NYCHA public housing portfolio. Boulevard Together Developer LLC, a joint venture with The Hudson Companies, Property Resources Corporation, and Duvernay + Brooks, is undertaking the refurbishment of a total of 29 buildings in East New York. — New York Yimby
The properties include the Boulevard Houses, Fiorentino Plaza, and the Belmont-Sutter Area Houses. This project is being facilitated through the NYCHA’s Permanent Affordability Commitment Together (PACT) initiative, in which selected developments receive needed renovations, along with expanded vocational and economic support services. It ensures that these homes remain permanently affordable. PACT depends on partnerships with private and non-profit development partners, who are selected based on resident input.
Improvements to the housing developments will include new bathrooms, upgraded kitchens with Energy Star appliances, lighting systems, enhanced entryways and communal areas, both indoor and outside, and repairs to the façades and building envelopes. When complete, Boulevard Together Management LLC will serve as the new on-site property manager.
10 Comments
This has that shitty mayor all over it, and disaster all over. Capitalism at its finest.
has much more to do with a lack of funding at the federal level than anything - when the feds develop and build all of this public housing and then expect municipalities to cover the future costs, this is what happens.
True, but the goal of capitalism is to cripple the responsibility of the federal government, swoop in, promise responsible stewardship, and kick the fuck out of poor people.
i agree with you on a broader scale (you know my reading history..).. but being in nyc housing, and know many people involved in this and other projects, it's not quite that clear cut. "privatization" is to the left what "communism" is to the right.. it's a trigger that people often respond with oversimplifications. the messy reality is that while privatization (it should be noted it's the management in this case - buildings/land are still publicly owned) sucks, and is far, far from the best option here, it's one of the only tools left in the chest at the moment without massive federal involvement (bbb could address some of this but that is becoming a pipe dream, and the us has an abysmal record with public housing; it's essentially been dead in this country for decades already).
aside from the economics, the truth on the ground is residents are indeed getting safer, cleaner apartments, which should be acknowledged. the methods suck, but many of these buildings and the people living in them are in crisis.
but yes - capitalism does indeed suck.
Good to see that this proven method to upgrade NYCHA housing is spreading. The residents will be the big winners, and the City too since the housing stock will stop deteriorating. Activists will mourn the fact that the "purity" of public management will no longer go on, but those living in those apartments will be glad.
Evidence?
*points to Spqrxxi's wallet*
Exactly.
U$A
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