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NYCHA, Partners Will Bring Three Northern Manhattan Properties Under Private Management
New York City Housing Authority (NYCHA) closed on the financing of a $137.6-million Permanent Affordability Commitment Together (PACT) project that will fund comprehensive repairs for more than 850 residents living across 557 apartments at Audubon Houses, Bethune Gardens, and Marshall Plaza in Northern Manhattan, bringing them under private management.
The infusion of capital funding will enable the PACT partner team of Dantes Partners, Apex Building Group, Pyramid ETC Companies, and Faria Management to begin the work of fully rehabilitating the three campuses located in the Washington Heights and Sugar Hill neighborhoods.
Residents will receive fully renovated apartments with new interior doors, windows, flooring, kitchen appliances, and baths; building interior and exterior grounds improvements; new energy-efficient windows; new trash compactors; and new security cameras. The three developments will also receive significant infrastructure upgrades. Construction will take place at the three NYCHA campuses over the next three years.
Pictured: Marshall Plaza, currently and with proposed renovations.
- ◦Development
- ◦Financing
