NYCHA and BFC Partners have successfully secured $332.3 million in funding for their PACT project located in West Brighton, Staten Island. This significant investment brings the total amount invested in the borough to over $1 billion. The collaboration between NYCHA and BFC Partners, along with CB Emmanuel, Catholic Homes, and Pinnacle City Living will involve converting 16 buildings into Project-Based Section 8 through the RAD program. This initiative aims to provide comprehensive renovations for more than 1,300 residents.
The financing includes contributions from various sources such as Freddie Mac, New York City Housing Development Corporation (NYCHDC), Wells Fargo Bank NA., historic tax credits as well as city subsidies and sponsor equity. With this funding secured,the project will revitalize a total of 574 apartments while also reactivating an additional 24 units.The development plans also include a new senior center which is expected to benefit many residents.
Renovations are set to include facade restorations,replacement of roofs,new security systems,and improved ventilation.Additionally,bathroomsand kitchens will be renovatedto enhance living conditions within these buildings.Outdoor spaceswill feature upgraded landscaping,new lighting,park equipment,and seating areas.Walkways,a community garden,dog run,and screened refuse area are among other amenities that will be added.
The team behind this project has worked closely with residents during the design process.With construction set to begin soon,this collaborative effort is sureto bring positive changesfor all involved parties.This latest achievement by NYCHAand BFC Partners marks another milestone towards creating better housing optionsin Staten Island without compromising on quality or comfort.
