Will NYCHA apartment buildings or land be sold?

No. The land and buildings will be leased to PRC on a long-term basis, but NYCHA will retain ownership and will ensure that the partners adhere to standards outlined by the Guiding Principles created by the NYC RAD Roundtable to guarantee permanent affordability, deliver high-quality property management, and maintain public housing tenant rights and protections.

Will rents for NYCHA apartments included in the Manhattan Portfolio remain affordable?

Yes, all rents will remain permanently affordable at 30% of household adjusted gross income.

Which NYCHA properties are being renovated by PRC?

  • 335 East 111th Street
  • Park Avenue-East 122nd, 123rd Streets
  • Manhattanville Rehab (Group 2)
  • Manhattanville Rehab (Group 3)
  • Public School 139 (Conversion)
  • Samuel (MHOP) I
  • Samuel (MHOP) II
  • Samuel (MHOP) III
  • Fort Washington Avenue Rehab
  • Washington Heights Rehab (Groups 1&2)
  • Washington Heights Rehab Phase III
  • Washington Heights Rehab Phase IV (C)
  • Washington Heights Rehab Phase IV (D)
  • Wise Towers
  • 344 East 28th Street

Will residents be displaced or need to move temporarily?

During the renovation process, current residents will be able to remain in place, in their apartments, with appropriate accommodations for disabled residents and others that require special assistance. In the event that some rehabilitation work is not possible with residents in place due to safety or health concerns, PRC will be responsible for all relocation efforts, and residents will have the right to return to their apartments after work is completed.

What about tenant rights?

Residents’ rights and public housing protections will be maintained.

What improvements are being made to Manhattan Portfolio properties?

  • Individual apartment improvements will include new kitchens, bathrooms, windows, doors, and flooring.
  • Building-wide renovations can include roof repairs, facade work, elevator upgrades and replacements, mechanical systems upgrades, additional security systems, and new heating systems
  • Enhancements will also be prioritized for common areas, community centers, landscaping, and playgrounds. Design upgrades including bold graphics and signage will provide visual interest and enhanced wayfinding that may be particularly beneficial for NYCHA’s senior citizen population.

PRC understands that each development is unique and may have other specific needs. We will work with the residents and NYCHA staff to identify those needs as part of an ongoing collaborative process.

How will property management be affected?

After the financial closing, a third-party organization will manage the properties in NYCHA’s Manhattan Portfolio instead of NYCHA. PRC’s property manager is Cornell Pace Inc, which specializes in the property management of affordable housing in New York and has extensive experience in the management of public housing and Project Based Section 8 property.

Additional Questions?