PACT Partners to Provide $360M in Comprehensive Repairs for Reid Apartments and Park Rock Consolidated
Over 3,600 residents will receive renovated apartments, building infrastructure upgrades, and redesigned public spaces
A team with several New York-based MBEs and the Local Development Corporation of East New York will guide the scope of repairs and coordinate social services
On March 2, NYCHA formally announced the selection of BRP Companies, Urbane, and Fairstead as the PACT partners to deliver approximately $360 million in comprehensive building and apartment upgrades for Reid Apartments and Park Rock Consolidated. Collectively, the developments comprise 1,700 apartments with 88 buildings that are home to more than 3,600 residents. As part of the project, residents will see comprehensive apartment upgrades; enhancements to public areas; the creation of community green spaces; and the renovation of the Reid Senior Center.
Experienced and certified Minority-owned Business Enterprises (MBE), BRP Companies and Urbane bring decades of demonstrated success overseeing affordable housing and mixed-use commercial projects throughout New York City. Fairstead – a real estate firm with a national footprint that specializes in creating high-quality sustainable housing – will serve as the general contractor and property manager. The Local Development Corporation of East New York (LDCENY) – a well-established, 42-year-old nonprofit organization that has deep roots in the community and extensive experience developing affordable housing projects in Eastern Brooklyn – will serve as community engagement partner to liaise with residents and stakeholders. NYCHA and the selected development team will work with resident leaders to select a non-profit partner that will deliver enhanced social services and community programs. As part of the resident engagement process, NYCHA and the selected partners held a virtual meeting on Thursday to introduce the partners to residents and to share an overview of expected repairs. PACT partners will continue to engage with residents around planned renovations over the next year, and construction is expected to begin in early 2023.
“Today’s designation is a critical step toward ensuring better living conditions for the 3,600 tenants who call Reid Apartments and Park Rock Consolidated home,” said New York City Chief Housing Officer Jessica Katz. “I am particularly pleased to see the stellar lineup of developers who were selected, which includes MBE partners with a strong track record of providing high-quality housing and amenities.”
“This partnership will fundamentally improve the conditions and quality of life for 3,600 residents living at 88 sites throughout Eastern Brooklyn, all while preserving their tenant rights and protections,” said NYCHA Chair & CEO Greg Russ. “Today’s selection reaffirms NYCHA’s commitment to working with diverse, qualified, and experienced partners who share our dedication to stabilizing long-standing communities and preserving public housing for future generations.”
“Today’s announcement is the latest milestone in the Authority’s effort to bring meaningful investments to our residents through the PACT program,” said NYCHA Executive Vice President for Real Estate Development Jonathan Gouveia. “Residents’ quality of life will be improved through comprehensive building repairs and the reactivation of underutilized open spaces into beautiful, accessible green spaces all members of the community can use.”
The selected PACT partners have become known for not just their ability to rehabilitate homes, but also for their approach to working directly with communities to facilitate investments that are responsive to resident priorities. BRP Companies is a Black-owned real estate firm that is at the forefront of mixed-use development and renovating urban, multi-family properties. Urbane (a certified New York City and New York State Minority-owned Business Enterprise) is a community development venture aimed at generating long-term prosperity and wealth creation in historically disinvested communities. In 2015, the two companies collaborated to renovate Flatbush Caton Market and bring 166 residential units to that site. Fairstead is a purpose-driven real estate developer that specializes in creating sustainable, high-quality housing. LDCENY empowers low-to-moderate-income women and minorities with programs that promote economic sufficiency and asset-building.
The Reid Apartments and Park Rock Consolidated project encompasses 15 different developments with a mix of walk-up scattered site buildings. Reid Apartments is home to over 200 seniors who have access to an on-site Senior Center. The other buildings being renovated as part of this project are scattered over several neighborhoods and are primarily walk-up buildings without elevator service.
The selected PACT partners will implement a responsive property management plan to provide on-site, active management of the scattered developments. The range of planned improvements for these developments includes upgrades to heating, domestic hot water, and ventilation systems; new high-performance roofs and upgrades to building envelopes and windows; renovations to playground equipment, seating areas, and onsite landscapes; new finishes, lighting, and appliances in apartments and community facilities; and upgraded laundry rooms, lobbies, and other common areas.
The selected PACT teams will use the Rental Assistance Demonstration (RAD) program to transition operating subsidy to the Project-Based Section 8 program and finance the 20-year capital needs at each development. They will also be responsible for the day-to-day management and operation of the development. NYCHA will continue to own the land and buildings, administer the Section 8 subsidy, set rents, manage the waitlist for vacant apartments, and monitor conditions at the development. With the development team now in place, NYCHA and its partners will continue to work closely with residents and tenant association leaders to plan and prepare for these historic community investments.
Since 2016, the PACT program has generated more than $3.4 billion in capital funding for comprehensive apartment renovations and building infrastructure improvements for nearly 15,500 households. Approximately $579 million in renovations have already been completed, and $2.8 billion in major upgrades are underway or will begin early this year. An additional 19,700 households are part of active development projects in the process of resident engagement or pre-development. In sum, NYCHA has more than 35,000 apartments completed, in construction, or in a stage of resident engagement or pre-development.
More information on NYCHA’s PACT program can be found here and more information on the Reid Apartments and Park Rock Consolidated project can be found here.
