NYCHA & Partners Announce Financial Closing of PACT Modernization Project Totaling $247.4 Million at Union Avenue Consolidated
Closing is another key milestone in renovating the homes of nearly 2,000 residents across 18 buildings
Comprehensive upgrades will dramatically improve apartments, shared spaces, grounds, building infrastructure, and resident quality of life
On Thursday, September 28, NYCHA closed on the financing for Union Avenue Consolidated, a $247.4 million Permanent Affordability Commitment Together (PACT) project that will facilitate comprehensive repairs for nearly 2,000 residents living across 18 buildings in the Claremont Village and Morrisania neighborhoods of the Bronx. As part of this milestone, all of the buildings have now converted to Project-Based Section 8 through the federal Rental Assistance Demonstration (RAD) program, and capital funding will allow the PACT partner team to begin fully rehabilitating 983 apartments at seven developments: Claremont Parkway-Franklin Avenue; Davidson; Eagle Avenue-East 163rd Street; South Bronx Area (Site 402); Stebbins Avenue-Hewitt Place; Union Avenue-East 163rd Street; and Union Avenue-East 166th Street. The PACT partner team, comprised of The Arker Companies, Dabar Development Partners, Omni Bronx Preservation, Renewal Chateau LLC, and Progressive Management of NY V LLC, will start construction on the comprehensive rehabilitation, assume day-to-day property management, and coordinate social services for all buildings in the Union Avenue Consolidated bundle. The scope of rehabilitation will address the 20-year capital needs of the properties while prioritizing resident preferences and investments towards healthier and more efficient buildings.
“This closing brings crucial investments across NYCHA developments in the Bronx and reflects the valued feedback of NYCHA residents throughout the process,” said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. “We are eager to see the positive impact these repairs and enhancements will have on the buildings, apartments, and most importantly the lives of residents at Union Avenue Consolidated developments.”
“The developments that make up Union Avenue Consolidated have been in need of comprehensive renovations for some time,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “NYCHA and our partners are ecstatic to be able to deliver the quality-of-life upgrades that these residents deserve, especially the thriving, engaged senior community at Union Avenue Consolidated.”
“Residents at Union Avenue Consolidated helped drive the investment plans for each of their developments, and together we have created a robust scope that prioritizes NYCHA seniors, residents, and the Union Avenue community,” said NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia. “We are excited to see the PACT partner team start construction in the coming months. Congratulations to our resident leaders, and the Arker, Omni, and Dabar team, on reaching this milestone.”
“Today’s closing will bring critical investments to the Union Avenue Consolidated campus,” said New York City Housing Development Corporation President Eric Enderlin.“Congratulations to our partners, and the thousands of residents who will soon benefit from transformative renovations and guaranteed affordability made possible through the PACT program.”
“Over two years ago, the resident association leaders of Union Avenue Consolidated were invited to actively engage with NYCHA in evaluating multiple proposals, conducting interviews with development teams, and ultimately selecting the Union Avenue PACT Partner,” said Claremont Parkway Resident Association President Gloria Tull. “We look ahead with great optimism to the future of Union Avenue Consolidated, eagerly anticipating the positive transformations that will enhance both our homes and our community.”
“I am thrilled about the significant investments that are poised to provide dignified living for every resident at Union Avenue Consolidated,” said South Bronx Area (Site 402) Resident Association President Robbin Davis. “This journey has involved extensive learning and attentive listening to our residents, which has culminated in a tailored investment plan. The tangible manifestation of this investment plan is exemplified by the model unit, which has allowed all residents to witness firsthand the upcoming renovations to their apartments.”
“I believe that all NYCHA residents should have dignified housing conditions,” said Stebbins Avenue-Hewitt Place Resident Association President Ray Serrano. “It is indeed one of the most basic needs to sustain modern life today. It is essential for us to maintain and respect the living conditions of the residents and our community. The PACT partners and the program will allow us to feel better about where we live, so we can all flourish.“
Since 2022, the PACT partner team, which was selected by resident association leadership, worked closely with residents and NYCHA to design every aspect of the developments’ renovation. After months of community-wide meetings and individual development meetings, the plans for the large-scale renovation have been completed, and the team has closed on the necessary financing to begin construction. Construction is expected to take two to three years. All apartments will receive new doors, closets, windows, and fresh paint, as well as comprehensive upgrades to bathrooms and kitchens, including new appliances, fixtures, countertops, cabinets, lighting, flooring, tubs, and showers. Union Avenue Consolidated buildings will receive façade and envelope improvements, new heating systems, domestic hot water systems, modernized elevators, ventilation improvements, new roofs, free broadband internet, fire safety upgrades, solar panels, and new security installations such as cameras and improved lighting. Additionally, common areas such as entrances, lobbies, mail areas, trash and recycling rooms, hallways, stairways, laundry rooms, offices, and community centers will be comprehensively renovated. Development grounds will be revitalized by new landscaping, patterned concrete pavement, new seating areas, bike racks, walking paths, and playgrounds, with an overall emphasis on accessibility.
Additional details on the planned investments and improvements are outlined in the Union Avenue Consolidated Community Plan,[HM1] which was developed in collaboration with resident leaders and NYCHA and is being distributed to every household prior to the start of construction.
The PACT partner team previously worked with NYCHA residents to deliver comprehensive renovations through the PACT program for more than 6,300 residents across nine Brooklyn developments and are currently in pre-development and planning with residents at the Northwest Bronx Scattered Sites.
Founded in 1949, The Arker Companies has created over 11,000 affordable housing units and nearly one million square feet of commercial office space. Arker works to support the needs and goals of the communities across the region with well-established relationships between private-sector investors; federal, state, and local agencies; and not-for-profit organizations.
Dabar Development Partners is a minority- and woman-owned, full-service real estate development firm, focused on the preservation, renovation, and new construction of architecturally significant properties. Through market-rate and affordable mixed-use projects in New York, Philadelphia, and Atlanta, Dabar has developed over 3,000 residential units since 2003.
The PACT program transitions developments from traditional public housing assistance to the more stable, federally funded Project-Based Section 8 program — unlocking funding for designated PACT partners to complete comprehensive repairs. Overall, 138 NYCHA developments (representing over 37,000 apartments) are in pre-development, are under construction, or have completed construction through the program. The Authority is on track to include 62,000 apartments in the PACT program in order to bring the benefits of comprehensive apartment repairs and building upgrades, as well as enhanced property management and social services, to more than 142,000 residents. The New York City Housing Development Corporation (HDC), New York City’s municipal Housing Finance Agency, is the key financing partner for PACT. In addition to providing or arranging the financing, HDC provides ongoing asset management and compliance support for PACT transactions.
