NYCHA inks deal for $1.4 billion in repairs at Brooklyn properties, bringing them under private management
Publication: Brooklyn Paper
The New York City Housing Authority announced a deal Wednesday to convert six Brooklyn public housing developments to private management under the feds’ controversial Rental Assistance Demonstration (RAD) program, bringing in $1.4 billion for repairs under a program many residents fear signals the privatization of public housing.
The massive cash infusion will bring much needed repairs to over 5,000 apartments in Williamsburg and East New York, NYCHA says. Repairs will take place at the Williamsburg Houses in the eponymous neighborhood, and the Linden Houses, Penn-Wortman Houses, Boulevard Houses, Belmont-Sutter Houses, and Fiorentino Plaza, all in East New York. The authority says that work will begin early next year with a scheduled completion date between 2024 and 2025.
RAD, a federal program administered by the Department of Housing and Urban Development, promises federal funds to repair and renovate neglected apartments in urban public housing stock while moving the involved units from the federal Section 9 program, which provides money to public housing authorities to maintain their housing stock, to the Section 8 program, which provides rent vouchers to pay to private landlords. For NYCHA, that involves leasing apartments currently managed by the city to private management, consisting of a real estate development consortium and a property management company, while NYCHA retains ownership over the property.
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