Brooklyn Daily Eagle

NYCHA’s Bay View Houses in Canarsie got their special Toy Drive treat thanks to
collaboration with the Bay View Residents Association and the Bay View PACT Partner
Team.

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J.P. Morgan Chase

In Brooklyn, Williamsburg Houses' modernized properties are helping challenge assumptions about public housing.

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Urbanize NYC

Landmark Brooklyn development undergoes historic renovation

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New York Housing Conference

The historic Williamsburg Houses was recognized at the New York Housing Conference's 2024 Annual Awards program, in the Community Impact Gallery! Learn more about our PACT conversion.

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New York Housing Conference

We are delighted to celebrate New York’s affordable housing community in our 51st Annual Awards Program! Our theme this year is “Forward Together,” an acknowledgement of the collective power of New York’s affordable housing community. When we harness our expertise, diverse perspectives and deep commitment to making sure all New Yorkers have a safe and affordable home, we can overcome the greatest challenges, seize every opportunity and forge a bright future!

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Commercial Observer

To successfully address New York’s housing crisis, we must innovate.

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The Real Deal

Faced with limited inventory and rising costs, acquisition key to growth

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Multi-Housing News

This property is one of the oldest managed by the public development corporation.

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ConnectCRE

In addition to honoring RuthAnne Visnauskas, Commissioner and CEO of New York State Homes and Community Renewal, as Advocate of the Year, NYSAFAH will recognize Susan Camerata, Wavecrest Management and John Crotty, J Cubed Residential: Milford Street Association Captive Insurance Company, as Innovator of the Year.

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NYU Furman Center Fall Speaker Series

Please join the NYU Furman Center for a special lunch-and-lecture presentation on Tuesday, October 15th at 12:00 p.m. featuring Susan Camerata, Principal and Chief Financial Officer of Wavecrest Management, and John Crotty, founding member of Workforce Housing Group. They will be presenting "Affordable Housing's Liability Insurance Program: 'A New Path Forward'."

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City Limits

This PACT project will bring in three co-developers—Beacon Communities, Kalel Companies and a nonprofit, MBD Community Housing Corporation—as well as a general contractor, Notias Construction. The three properties will be managed by Wavecrest Management, which operates other PACT sites including Betances Houses and Eastchester Gardens, according to its website.

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NYCHA Journal

On September 26, NYCHA closed on the financing for the $419.6 million Permanent Affordability Commitment Together (PACT) modernization of Boston Secor, Boston Road Plaza, and Middletown Plaza. Across the three developments, comprehensive renovations will be made for nearly 1,600 residents, including nearly 600 seniors, living in six buildings in the Bronx.

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Insurance Advocate

A Vermont-based captive insurer has targeted New York’s affordable rental housing market at a time of that sector’s stress in availability and pricing..

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Commercial Observer

Ask them, and they'll tell you: They had to do it because premiums have ballooned in recent years

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The Real Deal

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Gothamist/WNYC

The new insurance venture, called Milford Street Association Captive Insurance Company, officially formed last month. Members of the collective pool their money to cover claims.

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The Office of Mayor Eric Adams

“The PACT Program plays a critical role in preserving New York City’s affordable housing portfolio,” said Matthew Rooney, principal, RDC Development and CEO, MDG Design & Construction; Susan Camerata, principal, RDC Development and chief financial officer, Wavecrest Management. “In partnership with NYCHA, it allows companies like RDC Development to provide comprehensive upgrades and enhanced social services to improve the quality of life for countless New Yorkers, while ensuring homes remain affordable. Thank you to Mayor Adams, NYCHA, HPD, and our countless partners across the city for continuing to invest in affordable housing and for giving us the tools to transform the lives of residents.”

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Bisnow

“It's at quite a crisis situation,” said Susan Camerata, chief financial officer of Wavecrest Management, which manages roughly 30,000 units of affordable New York apartments.

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NYCHA Journal

The refurbished office space is an early preview of the more comprehensive improvements to come at Eastchester Gardens thanks to the Permanent Affordability Commitment Together (PACT) program, which allows NYCHA and its partners to unlock significant funding for repairs and provide enhanced property management and social services. Residents were joined by NYCHA representatives and the PACT partner team of MDG Design + Construction LLC, Infinite Horizons, and Wavecrest Management to celebrate the upgraded communal area with a grand opening ceremony at the development, where nearly 2,000 residents live.

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NYCHA Journal

NYCHA and resident leaders selected Settlement Housing Fund, MDG Design & Construction, Wavecrest Management, and Bronx Pro Group as partner team

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News12 The Bronx

Residents of the Eastchester Gardens were able to enjoy their newly designed tenant's association office, made possible through the PACT Program.

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NYCHA Journal

On April 16, NYCHA announced that capital repairs totaling $318.1 million will be addressed for over 1,000 residents living at Hernandez, Meltzer Tower, and Seward Park Extension in the Lower East Side neighborhood of Manhattan through the Permanent Affordability Commitment Together (PACT) program. Over the past year, resident leadership worked closely with NYCHA to determine the best approach for obtaining the much-needed improvements, and they have selected Essence Development, MDG Design + Construction LLC, and Wavecrest Management as the PACT partner team.

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NYCHA Journal

“Bay View residents’ selection of MDG, Infinite Horizons, and Wavecrest as partners in this PACT renovation is an exciting example of how tenant decision-making can profoundly improve the quality of life at NYCHA developments,” said Deputy Mayor for Housing, Economic Development, and Workforce Maria Torres-Springer. “This collaboration between tenants and an experienced, community-oriented team will make a major positive impact on peoples’ lives.”

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Greenline: North Brooklyn Community News

In an effort to bolster educational and vocational opportunities for its residents, Williamsburg Houses, an affordable housing development located in Brooklyn, is now accepting applications for its scholarship program, the Inspired Path Forward Scholarship.

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The Real Deal

The proposed ban has garnered support from industry experts and lawmakers, with Susan Camerata, CFO of Wavecrest, expressing optimism that it marks a positive shift in how the insurance industry approaches policy formulation.

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WNYC/Gothamist

Camerata, whose company manages or owns more than 30,000 regulated and income-restricted apartments, said the proposed ban is “a step in the right direction for changing the insurance industry and how they write policies."

“Basing policies or declinations on the income of people who live in buildings should never be used to assess a policy,” Camerata said.

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