4. A Roadmap for Preservation
Ensures that public housing remains available for
current and future generations of New Yorkers
4
5. Plan NYCHA Development
NYCHA worked hand in hand
by hosting dozens of meetings
with residents, electeds,
community partners and
employees
Thousands of residents
provided input into proposals
including:
o Looking at ways to use NYCHA’s
most valuable asset –our land- to
generate revenue
o Development of new mixed-use,
mixed-income housing to support
more families in need
5
6. A Roadmap for the Future
A Call to:
Preserve public
housing – buildings,
communities and
opportunities
Restore financial
stability
Transform the way we
do things
Improve services
6
7. Why Now?
NYCHA Is Struggling To Get Ahead
Severe government
funding shortages
Unmet capital needs
Structural operating
deficit
Regulatory burdens
hinder us from
controlling costs
Aging and decaying
buildings
7
8. Two Different Federal
Funding Streams
Capital:
► Covers roofs, bricks,
elevators and
electrical, plumbing
and heating systems
► Requires long term
planning
► Calls for complex and
lengthy execution
Operating:
► Covers building
maintenance and
repairs, day to day
operations and
administration
► Based on HUD funding
formula that short
changes NYCHA
8
11. $13.4 Billion Unmet Capital Need
NYCHA Wide for the Next 5 Years
Carver Houses
has $41Million
needed for
capital
improvements
11
12. Plan NYCHA
Is Our Plan Of Action
To restore
financial stability
by looking for
other sources of
long-term
funding
opportunities
12
13. Proposed Plan will help Preserve Public
Housing for Current and Future Families
NYCHA would lease (not
sell) 14 parcels of land
located within 8
developments
Income generated will be
dedicated to building
improvements for public
housing
The developers will finance,
construct, and operate new
residential buildings.
13
14. Proposed Plan will help Preserve Public
Housing for Current and Future Families
Private developers will
pay NYCHA for the right
to build on leased land
that NYCHA owns (and
will continue to own)
Approximately 80% of
the apartments will be
market rate and 20% will
be permanently low
income 14
15. Setting the Record Straight
The Development Plan Will:
Not increase rent for NYCHA
residents due to the new
developments.
Not demolish public housing
apartments
Not displace NYCHA families
Not privatize – NYCHA will still be
the landlord
Not sell the land; NYCHA will own
the land under the new buildings.
Not result in job losses or increased
work requirements for NYCHA
personnel.
15
16. NYCHA’s Core Principles for Development
Location of new buildings along
street fronts to encourage
pedestrian traffic and campus
integration with the
neighborhood
Replacement of all parking
spaces for all current resident
legal permit holders at impacted
developments
Compactor yards relocated on
campus
16
17. NYCHA’s Core Principles for Development
Where space is available,
other impacted areas will
be relocated, replaced
and/or reconfigured (i.e.,
seating areas and gardens)
NYCHA will remain your
landlord and retain
ownership of the land
under the new buildings via
99-year ground leases
17
18. Benefits NYCHA Wide
This initiative will generate between $30 Million
and $50 Million of funding on a yearly basis for
99 years (term of ground lease)
New funding streams will be used to improve the
quality of life of NYCHA residents by funding a
portion of critical capital improvements
This initiative will generate approximately 800
permanently low income housing units for low
income New Yorkers
NYCHA residents will be given a preference for
the low-income units
18
21. E 102nd St & Madison Ave Site
Site Area: 14,000 SF
New Construction: 242,000 SF (approx.)
E 102nd St & Park Ave Site
Site Area: 23,000 SF
Proposed Floor Area
242,000 SF Residential Floor Area
500,000 SF Community Facility Floor
Area (eg. Medical Facility, Student
Dormitory)
1Affordable units will be available to
households with incomes at or BELOW
60% of Area Median Income (AMI)
Development Opportunity at Carver Houses
21
Maximum Allowable Income
1 person $ 36,120
2 persons $ 41,280
3 persons $ 46,440
4 persons $ 51,540
1Based on Dept. of Housing and Urban
Development 2013 (HUD) Standards
22. Benefits for Carver Houses Residents
Preference for low income
apartments in the new
buildings
Affordability restrictions are
permanent
Alternative power for systems
during blackouts such as
hallway and stair lighting, heat
and hot water, elevators and
security
Construction and permanent
job opportunities for NYCHA
residents
Enhanced security features for
the entire development
22
Presenter – Commissioner López will ask staff from Capital Projects and Operations to explain Capital and OperationFunding – Rebecca Finlan from Capital Projects- Luis Ponce form Operations
Presenter – Rebecca Finlan, Capital Projects
Presenter – Luis Ponce, Operations
Presenter – Commissioner López will present this slide and then turn over presentation to EVP Fred Harris$6 Billion is the current unmet capital need$7.4 is the unmet capital need for the next 5 years for a total amount of $13.4 Billion
Presenter –Executive Vice President for Development, Fred HarrisHand off to Operations Presenter
Presenter –Executive Vice President for Development, Fred Harris
Presenter –Executive Vice President for Development, Fred Harris
Presenter –Executive Vice President for Development, Fred Harris
Presenter –Executive Vice President for Development, Fred Harris
Presenter –Executive Vice President for Development, Fred Harris
Presenter –Executive Vice President for Development, Fred Harris who will then turn it over to Commissioner López.Commissioner López will then introduce Bernel Hall, Senior Transactional Manager for Development
Presenter – Bernel Hall- Senior Portfolio Manager
Presenter – Bernel Hall- Senior Portfolio Manager
Presenter – Bernel Hall- Senior Portfolio Manager
Presenter – EVP Fred Harris
Presenter – EVP Fred Harris
Commissioner Lopez and team will field questions from the audience