FOR IMMEDIATE RELEASE: December 16, 2025
CONTACT: media@nycha.nyc.gov | (212) 306-3322

NYCHA Reaches $8.6 Billion Investment Through PACT to Date as 2025 Calendar Year Comes to a Close

Additionally, in further strides to strengthen and preserve NYCHA’s housing stock, design-build contracts were executed by the Public Housing Preservation Trust at two developments to modernize the homes of over 2,100 residents

In 2025, official votes were completed at three developments, enabling residents to choose between the Trust, PACT, or remaining Section 9
  

NEW YORK – The New York City Housing Authority (NYCHA) today marks a year of continued progress, characterized by achievements made through the Permanent Affordability Commitment Together (PACT) program and the Public Housing Preservation Trust as 2025 comes to an end. Central to the efforts to strengthen and preserve its housing stock, in 2025, NYCHA closed on the financing for 16 developments through the PACT program, representing over $1.6 billion in comprehensive renovations for approximately 7,300 residents, bringing the total amount invested in NYCHA properties through PACT to date to over $8.6 billion. This year, the Public Housing Preservation Trust — a fully public entity expected to unlock billions of dollars in federal funding for much-needed, comprehensive repairs at NYCHA developments — executed the design-build contracts for Nostrand Houses and Bronx River Addition, totaling $493 million, to improve living conditions for over 2,100 residents across the two developments. Three new resident votes were held in 2025, including at Hylan Houses, Throggs Neck Addition, and Randall Avenue-Balcom Avenue, which elected to join the Trust, remain Section 9, and enter the PACT program respectively. In totality, these milestones demonstrate major advances in programs that seek to invest in aging and deteriorating buildings across the public housing portfolio and improve the quality of life for NYCHA residents. 

“We took office with a simple promise: to 'Get Stuff Done,’ and, four years later, our administration can say we delivered that every day for working-class New Yorkers,” said New York City Mayor Adams. “We drove shootings to record lows and pushed jobs and small businesses to record highs. We rewrote the playbook on homelessness and mental health to finally get New Yorkers living on our streets the help they need, and, after decades of half-measures, passed historic housing legislation to turn New York into a 'City of Yes.' We overhauled the way our students learn to read and do math, cut the cost of child care, and forgave medical debt. We eliminated taxes for low-income families, launched free universal after-school programming, and unlocked billions of dollars for public housing through programs like the NYCHA PACT. We got scaffolding off our buildings, trash bags off our streets, and opened up new public spaces for New Yorkers to enjoy. The haters may have doubted us, but the results are clear. On issue after issue, we brought common-sense leadership to create a safer, more affordable city, and our work has changed our city for the better; it will stand the test of time because we made New York City the best place to live and raise a family.” 

“This has been a tremendous year for NYCHA, capping off a historic four years of record capital improvements and renovations,” said Deputy Mayor for Housing, Economic Development, and Workforce Adolfo Carrión, Jr. “This $1.6 billion investment in 2025 alone will allow NYCHA to offer opportunity and hope to generations of New Yorkers, and it is emblematic of this administration's commitment to bettering the lives of NYCHA's residents.” 

“In 2025, NYCHA continued leveraging a variety of tools to bring much-needed capital investment to our properties,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “To date, a record $8.6 billion has been invested in comprehensive renovations to NYCHA properties through the PACT program, and we continue to gain momentum with the Trust and resident voting, giving residents the ability to cast their ballots and weigh in on the future of their homes. In 2026, we look forward to continuing to capitalize on the progress already made, using all available resources to preserve the Authority’s housing stock and improve the quality of life for all of those who call NYCHA home.” 

“This year, NYCHA continued its hard work by unlocking over $1.6 billion of investment to deliver the safe, healthy, permanently affordable homes that our residents deserve through the PACT program,” said NYCHA Chief Real Estate Officer Jonathan Gouveia. “In every development, in every project, in every conversation with residents, we look for the opportunity to reinvest, restore, and rebuild the physical and human aspects of our communities. We look forward to continuing this essential preservation work and beginning to reconnect with our roots as a public developer by building new homes on our campuses, expanding housing choice, and forging partnerships that unlock entirely new pathways for residents.” 

“2025 paved the Trust’s pathway to delivery,” said New York City Public Housing Preservation Trust President Vlada Kenniff. “We executed design-build contracts at Nostrand Houses and Bronx River Addition, moved projects into implementation, and advanced the next phase of work so residents can see visible progress and understand what comes next. In 2026, we will keep driving measurable construction activity and comprehensive upgrades across the portfolio.”  

Over this past year, NYCHA worked in partnership with resident leadership to select PACT partner teams and deliver record-breaking capital improvements and renovations at campuses around the city through the PACT program. In addition to the 28,580 apartments already converted to PACT since the program’s inception, another 10,793 apartments at 38 developments are in active planning and are slated for comprehensive repairs and upgrades. Overall, over 39,373 apartments across 146 developments are in pre-development, under construction, or have completed renovations through the PACT program. The Authority continues its work to include 62,000 apartments in the PACT program in order to bring the benefits of comprehensive apartment repairs and building upgrades, as well as enhanced property management and social services, to more than 142,000 residents. 

Together, PACT and the Public Housing Preservation Trust represent two key strategies to drive investment into NYCHA properties following decades of federal disinvestment. Following residents’ selection of the Trust as a result of the inaugural resident vote at Nostrand Houses in 2023 and a subsequent vote at Bronx River Addition in 2024, design-build contracts were executed for the two developments this year to modernize the homes of over 2,100 residents. The Trust also took significant steps forward with the issuance of a new Request for Qualifications for design-build teams to deliver comprehensive renovations for over 400 residents at Hylan Houses and the announcement of the shortlisted firms competing for the contract to perform renovations for 400 residents at Unity Towers.  

In 2025, resident votes were completed at three developments: Hylan Houses, Throggs Neck Addition, and Randall Avenue-Balcom Avenue, and residents voted to join the Trust, remain Section 9, and enter the PACT program, respectively. Hylan Houses and Randall Avenue-Balcom Avenue are now in the process of converting to Project-Based Section 8, unlocking millions of dollars in much-needed funding for capital renovations to the campuses, and ultimately improving the quality of life for over 650 residents. The next resident vote will take place at Stanley M. Isaacs Houses in Manhattan, home to 1,131 residents in 633 units, and is expected to begin in February 2026. One hundred days of resident engagement prior to the vote is currently underway at the campus.