Brooklyn Paper

NYCHA inks deal for $1.4 billion in repairs at Brooklyn properties, bringing them under private management

The Williamsburg Houses will get $490 million to repair 1,621 apartments in 20 residential buildings on the property. The property will be leased over to Wavecrest Management, which will take over property management, and MDG Design and Construction, which will conduct repairs.

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Real Estate Weekly

NYCHA and HDC finalize $1.4B deal for Brooklyn Residents

Williamsburg Houses will receive $490 million in comprehensive renovations to the 1,621 apartments and 20 residential buildings at the property. The PACT partners at Williamsburg are led by MDG Design and Construction and Wavecrest Management. MDG Design and Construction will perform the rehabilitation work. Wavecrest Management is now responsible for the day-to-day management and operation of the property. Social services are being provided by non-profit partners St. Nicks Alliance and Grand Street Settlement, which both have deep experience serving Williamsburg residents.

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Family Day Celebration and vaccine pop-up at affordable housing complex

On Sept. 4, RDC Development, a joint venture between Wavecrest Management and MDG Design + Construction, hosted a carnival-themed family day event for the residents of Betances Houses in the Bronx, home to nearly 3,000 residents.

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