Location: Brooklyn, New York

Developer: RDC Development (a joint venture between MDG Real Estate Partners LLC and Wavecrest Management Group)

One of the oldest properties in the New York City Housing Authority’s (NYCHA’s) inventory was rebuilt though a creative use of historic tax credits (HTCs) and the HUD RAD program.

Completed in 1938 and originally called the Ten Eyck Houses, the 1,621-home Williamsburg Houses in Brooklyn was in a gentrifying community and was in desperate need of extensive repairs. Due to its position on the U.S. National Register of Historic Places, developer RDC Development (a joint venture between MDG Real Estate Partners LLC and Wavecrest Management Group) was able to secure $141 million in state and federal HTCs, in which JPMorgan Chase was the investor.

Williamsburg Houses spans four mega blocks, with 20 four-story residential buildings and a community center. The rehabilitation improved the property while providing social services and preserving the historic aspects of the site. RDC created the Inspired Path Forward Scholarship in 2023. It is exclusive to residents of Williamsburg Houses and offers $5,000 for up to 15 recipients each year in educational-related support.

The upgraded property includes home renovations, kitchen and bathroom appliance upgrades and complete abatement of lead-based paint in all apartments and common areas to New York’s Housing and Preservation Department’s lead-free standard, one of New York’s first developments to achieve this status. There is also a new façade and roof repairs, window replacements new playgrounds, a refurbished community garden and free Wi-Fi in each home.