Through PACT, the Boulevard Together team will oversee critical infrastructure and capital repair needs in 29 NYCHA buildings following decades of disinvestment at the properties. Boulevard Houses will finance the project through a construction loan provided by the New York City Housing Development Corporation and JP Morgan Chase. In addition to traditional funding, Boulevard Houses and Fiorentino Plaza are qualified to generate historic tax credits and Chase Community Development Banking will invest up to $140 million of\u00a0Federal and State Historic tax credit\u00a0equity\u00a0into the project.<\/span><\/p>\n \u201cToday\u2019s announcement is an important step towards bringing comprehensive repairs and social services to more than 1,600 NYCHA households,\u201d said\u00a0HDC President Eric Enderlin<\/strong>. \u201cHDC is proud to provide critical financing to ensure our public housing residents benefit from lasting affordability and tenant protections through PACT. Congratulations to all our partners on reaching this pivotal stage in the preservation of the Boulevard housing portfolio.\u201d<\/span><\/p>\n \u201cThis is about the residents first and foremost. We have engaged in frequent and productive conversations with the residents and their leadership associations and are thrilled to be providing residents of the Boulevard Houses, Fiorentino Plaza and Belmont-Sutter Area with fully-renovated apartments with critical upgrades to their buildings,\u201d\u00a0said\u00a0Aaron Koffman, Managing Principal of The Hudson Companies<\/strong>. \u201cThis transformational project will also provide local workforce and educational opportunities while maintaining resident protections and permanent affordability for generations to come. We look forward to working in close coordination with\u00a0Property Resources Corporation, Duvernay + Brooks, NYCHA and HDC to bring this vision to reality.\u201d<\/span><\/p>\n \u201cD+B is deeply committed to this partnership with NYCHA and the Boulevard Together team to provide critical improvements to residents\u2019 homes and to permanently preserve this vital affordable housing resource for its residents and the East New York community,\u201d said\u00a0Duvernay + Brooks Managing Director Gale Kaufman<\/strong>.<\/span><\/p>\n \u201cProperty Resources Corporation is honored to be a part of the team chosen by NYCHA to revitalize these communities,\u201d said Matt Linde, Principal at Property Resources Corporation<\/strong>. \u201cWith the closing of this transaction, Boulevard Houses, Fiorentino Plaza, and Belmont Sutter Area will receive much needed capital repairs that will dramatically upgrade each resident\u2019s home and enhance the public spaces at each property. PRC and the Boulevard Together team remain committed to ensuring that these apartments remain permanently affordable through NYCHA\u2019s PACT program.\u201d\u00a0<\/span><\/p>\n Built in the 1950s (Boulevard Houses), 1970s (Fiorentino Plaza) and 1980s (Belmont-Sutter Area) the complexes are in need of repairs to interiors, exteriors, storm drainage, structural upgrades and improved security systems. Starting next month, Boulevard Together will begin work on an array of repairs, with Peter Clements Architects serving as the project\u2019s architect.<\/span><\/p>\n Improvements will include:<\/span><\/strong><\/p>\n Apartment interior upgrades, including new bathrooms, kitchens, lighting, painting, and flooring<\/span><\/p>\n<\/li>\n Enhanced community amenities including laundry, and new storage spaces<\/span><\/p>\n<\/li>\n Exterior site work, new signage, augmented landscape with new gazebos, seating, walkways, renovated playgrounds, outdoor gymnasiums, open air reading rooms, community gardens and areas for outdoor exhibitions<\/span><\/p>\n<\/li>\n Addressing priorities identified by residents in recent tenant engagement meetings: waste management, new units with ADA access, security, and improved interior and site lighting<\/span><\/p>\n<\/li>\n 100% window replacement<\/span><\/p>\n<\/li>\n New energy star appliances<\/span><\/p>\n<\/li>\n Fac\u0327ade and site improvements including entrances, parapet walls, window and roof replacements, building system upgrades to prevent system failures, and elevator modernization<\/span><\/p>\n<\/li>\n Boulevard Together Management LLC will serve as the new on-site property manager led by Lisa Management and PRC Management<\/span><\/p>\n<\/li>\n<\/ul>\n Over the past year, the Boulevard Together team has held regular virtual town hall meetings and provided monthly newsletters with information for tenants to explain the RAD conversion process and engage residents around general feedback, questions and concerns. Residents have signed new leases that were reviewed by the Legal Aid Society and cannot be changed without NYCHA\u2019s approval.<\/span><\/p>\n At the same time, Boulevard Together will look to expand the on-site social services led by Brooklyn-based social service provider CAMBA. CAMBA serves more than 65,000 families each year and operates 160 programs in 95 locations throughout the city. The team will offer residents on-site services that include adult literacy, GED obtainment, workforce training, and family services programming.<\/span><\/p>\n With more than 80 years of combined experience in affordable housing, the Boulevard Team has developed more than 2,000 affordable apartments in East New York and over 7,000 affordable apartments in New York State.\u00a0<\/span><\/p>\n RELATED ARTICLES<\/strong><\/p>\n The City\u2019s Three NYCHA Plans That Will Privatize Public Housing<\/a><\/p>\n The Privatization Of NYCHA Which Will Displace Thousands Of Tenants: How We Can \u2018Halt The Blueprint\u2019<\/a><\/p>\n\n
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