Close Menu
Global News HQ
    What's Hot

    3 Cheap Tech Stocks to Buy Right Now | The Motley Fool

    July 21, 2025

    Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills

    July 21, 2025

    It’s National Ice Cream Day: Here’s Your Ideal Summer Paint Color, Based on Your Favorite Flavor

    July 21, 2025
    Recent Posts
    • 3 Cheap Tech Stocks to Buy Right Now | The Motley Fool
    • Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills
    • It’s National Ice Cream Day: Here’s Your Ideal Summer Paint Color, Based on Your Favorite Flavor
    • Dreamy hotel pools to book using points – The Points Guy
    • Litecoin Price Crosses $110 Level After 20% Rally — What’s Next For LTC?
    Facebook X (Twitter) Instagram YouTube TikTok
    Trending
    • 3 Cheap Tech Stocks to Buy Right Now | The Motley Fool
    • Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills
    • It’s National Ice Cream Day: Here’s Your Ideal Summer Paint Color, Based on Your Favorite Flavor
    • Dreamy hotel pools to book using points – The Points Guy
    • Litecoin Price Crosses $110 Level After 20% Rally — What’s Next For LTC?
    • Growing Radishes? Here’s How Long They Actually Take to Grow So You Can Harvest on Time
    • Taste Test: This $900 Bourbon Is Not Worth the Splurge
    • Client Challenge
    Global News HQ
    • Technology & Gadgets
    • Travel & Tourism (Luxury)
    • Health & Wellness (Specialized)
    • Home Improvement & Remodeling
    • Luxury Goods & Services
    • Home
    • Finance & Investment
    • Insurance
    • Legal
    • Real Estate
    • More
      • Cryptocurrency & Blockchain
      • E-commerce & Retail
      • Business & Entrepreneurship
      • Automotive (Car Deals & Maintenance)
    Global News HQ
    Home - Real Estate - NYCHA scores $231M to renovate Eastchester Gardens
    Real Estate

    NYCHA scores $231M to renovate Eastchester Gardens

    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp VKontakte Email
    NYCHA scores 1M to renovate Eastchester Gardens
    Share
    Facebook Twitter LinkedIn Pinterest Email


    The New York City Housing Authority landed financing to renovate a property in the Bronx as it struggles with a challenging environment for rehabilitating its dilapidated portfolio.

    NYCHA scored $231 million in financing for the overhaul of the 877-unit Eastchester Gardens, the Commercial Observer reported. Most of the 30-year funding came from Merchants Capital, primarily consisting of $221.7 million through a Freddie Mac Capital Markets Execution loan.

    The financing was first reported by Globe St.

    The property — a spry 75-year-old listed on the National Register of Historic Places — features 10 residential buildings, as well as a senior center and community center. It is in NYCHA’s Permanent Affordability Commitment Together program, which is funded through federal project-based Section 8. The complex is eligible for federal tax credits.

    In total, renovations at the complex will carry a $391 million price tag. MDG Design + Construction, Infinite Horizons and property manager Wavecrest Management will be spearheading the process.

    “With this collaboration between residents, NYCHA and the PACT partner team, units will receive a suite of new upgrades, such as new radiators, air conditioning, appliances, windows and other building improvements, delivering residents the quality of life they deserve,” Deputy Mayor Adolfo Carrión said in a statement.

    NYCHA officials recently received a grilling from the New York City Council’s public housing committee. There are 240,000 on a waitlist for a NYCHA apartment, yet 6,000 units are empty, according to the organization’s dashboard; the true number of vacancies is greater than 8,600.

    NYCHA is also struggling to turn units over in a timely manner, taking anywhere from a year to more on average due to the extensive upgrades often required after an apartment is vacated. Last year, the estimated average to renovate a single unit within the portfolio was $375,000.

    The vacancy rate across the NYCHA portfolio is approximately 4.5 percent.

    — Holden Walter-Warner

    Read more

    NYCHA vacant unit count worse than realized

    City’s Low Vacancy Rate Slows NYCHA Rehabs

    The Daily Dirt: NYCHA blames tight housing market for its struggle to fix apartments

    Manhattanville (Credit: Wikipedia)

    Monadnock, others to lead $500M renovation of Manhattan NYCHA properties





    Source link

    NYCHA renovate Eastchester Gardens
    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Previous Article3 Zodiac Signs That Can Expect Financial Gains This Cancer Season
    Next Article Faith, Family, and Ecommerce

    Related Posts

    The rise of punk rock kindness: What Superman teaches us about content that sticks

    July 20, 2025

    Larsa Pippen Shows Off the Jaw-Dropping Upgrade to Her Miami Home (VIDEO) | Bravo

    July 20, 2025

    NYC’s top deals: UWS self-storage site trades for $60M

    July 19, 2025

    It’s a bust: Another bad bet on a NYC casino

    July 19, 2025
    Leave A Reply Cancel Reply

    ads
    Don't Miss
    Finance & Investment
    4 Mins Read

    3 Cheap Tech Stocks to Buy Right Now | The Motley Fool

    Wondering where to find value in a red-hot tech sector? Check out these overlooked tech…

    Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills

    July 21, 2025

    It’s National Ice Cream Day: Here’s Your Ideal Summer Paint Color, Based on Your Favorite Flavor

    July 21, 2025

    Dreamy hotel pools to book using points – The Points Guy

    July 21, 2025
    Top
    Finance & Investment
    4 Mins Read

    3 Cheap Tech Stocks to Buy Right Now | The Motley Fool

    Wondering where to find value in a red-hot tech sector? Check out these overlooked tech…

    Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills

    July 21, 2025

    It’s National Ice Cream Day: Here’s Your Ideal Summer Paint Color, Based on Your Favorite Flavor

    July 21, 2025
    Our Picks
    Finance & Investment
    4 Mins Read

    3 Cheap Tech Stocks to Buy Right Now | The Motley Fool

    Wondering where to find value in a red-hot tech sector? Check out these overlooked tech…

    Luxury Goods & Services
    3 Mins Read

    Betties and Baldwins Abounded at the First Official ‘Clueless’ Day in Beverly Hills

    How does a city celebrate a piece of art with which it’s become inextricably linked?…

    Pages
    • About Us
    • Contact Us
    • Disclaimer
    • Homepage
    • Privacy Policy
    Facebook X (Twitter) Instagram YouTube TikTok
    • Home
    © 2025 Global News HQ .

    Type above and press Enter to search. Press Esc to cancel.

    Go to mobile version