Preserving the Affordability of 1,672 Public Housing and RAD Units Through NYCHA's PACT Initiative Across East New York

Boulevard Houses, Fiorentino Plaza and Belmont-Sutter-Area is a 1,673-unit residential cluster spread across 29 high and low-rise buildings located in East New York. Hudson Companies, in a joint venture with Property Resources Corporation and Duvernay + Brooks will enter into a 99-year ground lease with New York City Housing Authority (“NYCHA”) to preserve existing public housing stock in New York via NYCHA’s Permanent Affordability Commitment Together (“PACT”) initiative. The partnership will undertake extensive interior and exterior renovations including new kitchens and bathrooms for all residences as well as general upgrades to building systems including new roofs, windows, elevator replacements and renovated public spaces on the ground floor. 100% of the units will be kept at affordable rent levels. In addition to traditional sources, the project will be financed through HDC tax-exempt bonds and Historic Tax Credits.

PROJECT TEAM: Property Resources Corporation, Duvernay & Brooks. Lisa Management Incorporated, PRC Management Corporation, Broadway Builders, Melcara Corporation, Peter Clements Architects, EP Engineering, Bright Power, Nixon Peabody, Forsyth Street Advisors, Higgins Quasebarth & Partners, CohnReznick, Brooklyn Workforce Innovations