NYCHA & Partners Close on Financing for $391M PACT Project to Renovate Eastchester Gardens
On March 27, NYCHA closed on the financing for Eastchester Gardens, a $391 million Permanent Affordability Commitment Together (PACT) project that will bring comprehensive renovations for more than 1,850 residents living in 10 residential buildings in the Bronx. The buildings have now converted to Project-Based Section 8 through the federal Rental Assistance Demonstration (RAD) program, unlocking funding that will allow the PACT partner team – MDG Design + Construction, Infinite Horizons, and Wavecrest Management – to address the capital needs of the development and begin fully rehabilitating 877 apartments, as well as shared spaces, grounds, and building infrastructure, to improve residents’ quality of life. The PACT program also maintains residents’ rights and preserves affordable rents for all households.
Wavecrest Management will be the property manager, and BronxWorks will provide supportive services and programming to Eastchester Gardens residents. Additional details on the planned investments and improvements are outlined in the Eastchester Gardens Community Plan, which was developed through a collaboration between resident leaders and NYCHA and is being distributed to every household prior to the start of construction.
“Bronxites in Eastchester, a working-class neighborhood with a rich history spanning generations, deserve modern, updated homes where they can raise their families and age gracefully in place,” said Deputy Mayor for Housing, Economic Development, and Workforce Adolfo Carrión. “Through this PACT project, residents played a key role in designing their future homes where generations of New Yorkers will live. With this collaboration between residents, NYCHA, and the PACT partner team, units will receive a suite of new upgrades, such as new radiators, air conditioning, appliances, windows, and other building improvements, delivering residents the quality of life they deserve.”
“Today marks a critical step towards Eastchester Gardens residents receiving significant and necessary renovations to their homes,” said Executive Director for Housing Leila Bozorg. “I am thrilled to see that MDG Design + Construction, Infinite Horizons, Wavecrest Management, NYCHA, and the Eastchester Gardens community will together deliver on upgrades to 877 apartments, common areas, public spaces, and building infrastructure.”
“It’s exciting to be working so closely with residents to design and implement comprehensive renovations to one of the oldest public housing developments in New York City,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “Together, we’ll be honoring the rich history of Eastchester Gardens while delivering the quality of life improvements for residents that the PACT program has come to be known for.”
“Congratulations to the residents at Eastchester and our PACT partners for reaching this important milestone,” said NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia. “Our partnership together ensures that Eastchester will be restored as a place of pride for the community and that the investments made reflect the priorities of the people who live there. This project is a great example of how collaboration can lead to real results for our NYCHA community.”
“Today’s announcement represents an important step towards delivering extensive home renovations and campus-wide improvements to the residents of Eastchester Gardens,” said New York City Housing Development Corporation President Eric Enderlin. “Thank you to all our partners and the resident leaders involved for their dedication to transforming the quality of New York City’s public housing stock.”
“When it came to lease enforcement and basic services like heat, hot water, and extermination, NYCHA used to be exceptional,” said Eastchester Gardens Resident Association President Keith Ramsey. “But over time, it’s become unrecognizable due to lack of adequate funding and resources. Through the PACT program, Eastchester Gardens residents will finally receive the resources, services, and attention our community deserves — and more. The Eastchester Gardens Resident Association is proud to partner with Wavecrest Management, Infinite Horizons, and MDG Design + Construction to build a brighter future for our campus.”
Selected in coordination with resident leadership, the PACT partner team has worked closely with Eastchester Gardens residents and NYCHA to design every aspect of the development’s renovation since 2023. After years of development and community-wide meetings, the plans for the large-scale renovation have been finalized, and the team has closed on the necessary financing to begin construction, which is expected to take approximately four years. Eastchester Gardens — as one of the oldest public housing developments in New York City, and the second oldest in the Bronx — will be listed on the National Register of Historic Places, and as a result, the rehabilitation plan must preserve the spirit of the original campus design. The building exteriors and common spaces will be restored to the extent original designs are intact.
All apartments at Eastchester Gardens will receive new windows, flooring, appliances, hydronic radiators, hardwired carbon monoxide and smoke detectors, and in-window air conditioning units, in addition to fresh paint and enhanced, energy-efficient lighting. Kitchens and bathrooms will be renovated and receive new appliances, fixtures, countertops, cabinets, flooring, tubs, and showers. Existing residents will each receive an in-unit, ventless washer/dryer combo. The buildings will receive new façade, envelope, and entryway repairs; modernized elevators and improved ventilation systems; new security installations; and lobby and hallway upgrades. Free high-speed internet access will be available for all residents. 1216 Burke Avenue will receive a new centralized laundry room and social services office center, and the community and senior centers will both receive comprehensive upgrades. The PACT partners will revitalize existing outdoor spaces by installing new landscaping and amenities, including courtyards, playgrounds, and a dog park.
Early in the process, the PACT partner team worked with resident leaders to renovate the existing resident association office so that it could be used by the resident association and for resident committees, which have empowered residents to actively participate in decisions about the future of their homes and community. Residents have participated in the design, landscaping, social service, and youth committees alongside the PACT partners.
Infinite Horizons, MDG Design + Construction, and Wavecrest Management will lead the project as co-developers; MDG Design + Construction will serve as general contractor; and Wavecrest Management will be the property manager. Social services programming at Eastchester Gardens will be operated by BronxWorks.
MDG Design + Construction LLC specializes in the rehabilitation and new construction of residential apartment buildings in New York City and Long Island with a focus on affordable housing.
Infinite Horizons is a minority-owned real estate firm based in New York that develops, constructs, and manages affordable housing and specializes in moderate and substantial rehabilitation along with new construction of residential mixed-use buildings.
Wavecrest Management is one of the largest management companies in New York City, with over 40 years of industry experience and a passion for providing opportunities that can improve residents’ lives.
The PACT program transitions developments from traditional Section 9 assistance to Project-Based Section 8 and unlocks funding for resident-selected PACT partners to complete comprehensive repairs and to oversee daily property management of the campus. Overall, 146 NYCHA developments (representing nearly 39,000 apartments) are in pre-development, are under construction, or have completed construction through the program. This represents over $13 billion in capital repairs for the Authority. The Authority is working 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.
