Mayor Michael R. Bloomberg, New York City Housing Authority (NYCHA) Chairman Tino Hernandez and New York City Housing Development Corporation (HDC) President Emily Youssouf announced the most comprehensive plan in the City’s history to modernize and preserve thousands of units of public housing. The Mayor made the announcement at the Williamsburg Community Center on February 07, 2005.
The New York City Housing Authority (NYCHA) is undertaking the most comprehensive plan in the City’s history to modernize and preserve thousands of units of public housing. The $2 billion program consists of $600 million from a two-phase bond issue done by the City’s Housing Development Corporation and a capital allocation of approximately $1.4 billion that NYCHA expects to receive from HUD over the next four years.
|Mayor Bloomberg, NYCHA Chairman Hernandez and HDC
President Youssouf announced a plan to modernize and
preserve public housing. Photo: Edward Reed
The first phase begins with the issuance of $300 million to finance exterior brick work, and roofing in 129 developments with over 500 buildings across all five boroughs. The second phase will focus on major system replacements to extend the life of the buildings’ infrastructure such as heating and plumbing; installation of automated boilers; kitchen and bathroom upgrades; modernization of underground utility lines, elevator replacements, and modernization of intercom systems which will increase efficiency and improve services to residents.