FOR IMMEDIATE RELEASE: May 08, 2026
CONTACT: media@nycha.nyc.gov | (212) 306-3322

NYCHA Closes on Financing for $349 Million PACT Project to Renovate the Homes of Over 1,200 Residents at Moore Houses and East 152nd Street-Courtlandt Avenue

This financial closing is a key milestone in the renovation of 684 apartments in four residential buildings

For the first time, all four buildings will be fully electrified for heat, cooling, cooking, and hot water through PACT renovations

NEW YORK – On Friday, May 8, the New York City Housing Authority (NYCHA) closed on the financing for a $349 million Permanent Affordability Commitment Together (PACT) project that will bring comprehensive renovations to over 1,200 residents living in four residential buildings at Moore Houses and East 152nd Street-Courtlandt Avenue in the Melrose section of the Bronx. The buildings have now converted to Project-Based Section 8 through the federal Rental Assistance Demonstration (RAD) program, unlocking funding that will allow the PACT partner team – Mega Group Development, Brisa Builders Development – to address the capital needs of the development and begin fully rehabilitating apartments, shared spaces, grounds, and building infrastructure to improve residents' quality of life. A PACT first, the comprehensive renovations to Moore Houses and East 152nd Street-Courtlandt Avenue will fully electrify all four buildings for heat, cooling, cooking, and hot water service. The PACT program maintains residents' rights and preserves affordable rents for all households.   

“This $349 million closing represents top-to-bottom building and home improvements for the residents of Moore Houses and East 152nd Street-Courtlandt Avenue, shaped by their input and managed by a team they helped select,” said Deputy Mayor for Housing and Planning Leila Bozorg. “Congratulations to each of the residents, and to NYCHA, Mega Group, Brisa Builders, and Cornell Pace teams, on this important milestone – I look forward to seeing much-needed improvements made in the coming years, including electrification, upgrades to community spaces, flood protection, and more.”  

“With this financial closing, we're unlocking the necessary funding to complete comprehensive renovations to Moore Houses and East 152nd Street-Courtlandt Avenue,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “Through the PACT modernization of these two developments, we'll be making critical quality of life improvements to residents' homes and buildings, as well as common areas and outdoor spaces. This will also be the first time that a NYCHA project has electrified more than one building, as we bring heating, cooling, cooking, and hot water services online in all four buildings, allowing for a greener, more efficient future and reliable utilities while also activating new indoor amenity spaces for resident use.”  

“This financial closing brings the PACT program to a total of $10.3 billion unlocked citywide for improvements to NYCHA campuses, buildings, homes, and most importantly, for the communities that call them home,” said NYCHA Executive Vice President and Chief Real Estate Officer Jonathan Gouveia. “PACT has brought sweeping improvements to the doorsteps and into the homes of so many NYCHA residents, making a tangible difference in their lives, and we're looking forward to continuing this progress at Moore Houses and East 152nd Street-Courtlandt Avenue.”  

“The tenant association is excited and eagerly anticipating the upcoming repairs that the PACT partners will be implementing here at Moore Houses,” said Moore Houses Tenant Association President Rosa Pinero. “We’re looking forward to the positive impact this will have on the community. It’s awesome to see real investment here – making it safter, cleaner, and more pleasurable for our tenants – and the new landscaping and building updates will have a big impact on our daily lives. We have maintained a great relationship with the PACT partners in a way that allows us to feel seen and heard, and we’re thrilled that our development will finally receive lasting changes that will benefit our residents for many years to come.”  

“The capital improvements secured by this PACT partnership will improve the health and wellbeing of more than 1,200 public housing residents throughout the Melrose neighborhood,” said New York City Housing Development Corporation (HDC) President Eric Enderlin. “HDC remains a proud partner in financing the critical preservation of public housing across New York City.”  

“New York is committed to building sustainable and affordable communities,” said New York State Homes and Community Renewal (HCR) Commissioner RuthAnne Visnauskas. “This $15 million investment to help electrify Moore and East 152nd Street-Courtlandt Avenue will give more than 1,200 households a more energy-efficient and resilient place to live. We are proud to work with our partners at NYCHA, The Community Preservation Corporation, and the entire development team on this important project.”  

“This project shows what’s possible when climate investment is brought to scale in public housing,” said The Community Preservation Corporation SVP, Head of Sustainability and Market Building Atalia Howe. “As the largest Climate Friendly Homes Fund award to date, this investment will support comprehensive electrification of heating and domestic hot water systems, delivering long‑term benefits for residents. We are grateful to NYCHA and HCR for their partnership and leadership in making this work possible.”  

“We are thankful for the successful pre-development journey with our joint-venture partners, Mega Development Group LLC, and Sydney Capital Group LLC, founded by Hammad Graham, along with our public partners at NYCHA, NYC HDC and HUD,” said Brisa Builders Development Chief Housing Development Officer Nathaniel Montgomery. “We are also tremendously excited to commence construction for the families of Moore Houses and East 152nd Street-Courtlandt Avenue, who have been phenomenal community partners through the planning processes with the residents for the redesign and revitalization of the built environment. We look forward to working together collaboratively and effectively throughout the construction period, with the end goal of outstanding improvements in the housing and living experiences for the community members of Moore Houses and East 152nd Street-Courtlandt Avenue.”  

“NYCHA's PACT program has been a transformative initiative for tens of thousands of New Yorkers, and we are proud to be part of this together with Brisa Builders Development LLC, Sydney Capital Group LLC, NYCHA, NYC HDC, Wells Fargo, Freddi Mac and HUD,” said Mega Group Development Principal Emanuel Kokinakis. “Today marks a major step forward for the preservation and modernization of affordable housing at Moore Houses and East 152nd Street–Courtlandt Avenue. We are grateful to the community, residents, and Moore Houses Tenant Association, who have partnered with us throughout this process, and we look forward to delivering resilient, energy-efficient homes through continued collaboration and trust.”  

“Cornell Pace Inc. is proud to be part of the team bringing transformational change to the residents at Moore and Courtland,” said Cornell Pace Inc. Chief Commercial Officer Nicholas Lindsay-Jones. “We look forward to a project that preserves affordable housing in the Bronx and ensures the residents have housing that they are proud to call home. We are truly grateful to NYCHA and the residents for their collaboration to ensure we can accomplish this together.”  

Following the financial closing, Cornell Pace Inc. will handle the day-to-day property management responsibilities at Moore and East 152nd Street-Courtlandt Avenue, including responding to maintenance and repair requests; regularly cleaning common areas; managing trash collection; and providing regular extermination services. Cornell Pace will also employ enhanced security measures, including CCTV cameras, intercom and alarm systems, and key fob building access. BronxWorks will deliver comprehensive on-site social services for residents, offering case management, rental arrears and housing stability assistance, benefits enrollment, crisis intervention, senior programming, youth and family activities, health and wellness workshops, mental health referrals, nutrition education, food access support, and employment and financial resources.   

Selected in coordination with resident leadership, the PACT partner team has worked closely with residents and NYCHA to design every aspect of the development's renovation. After years of community meetings, plans for the large-scale renovations have been finalized, and the team has closed on the necessary financing to begin construction, which is expected to take approximately three years. Additional details on the planned investments and improvements are outlined in the Community Plan document for Moore and East 152nd Street-Courtlandt Avenue, which was developed through a collaboration between the partner team, residents, and NYCHA. A copy of the Community Plan will be distributed to every household at the start of construction.  

All building systems at Moore and East 152nd Street-Courtlandt Avenue will be fully electrified, including cooking, heating, cooling, and hot water. New electric closets and panels will be installed in corridors, and apartments will receive new outlets to support electric appliances. Energy-inefficient gas boilers will be replaced with an all-electric system to provide reliable utilities, and existing radiators will be replaced with Packaged Terminal Heat Pumps (PTHP) that will provide heating and cooling, giving residents individual control over the temperature in their apartments. Domestic hot water will be sourced from electric air to water heat pumps located on rooftops to provide protected and efficient service. Electrification will also unlock additional amenity space for residents in what was once mechanical space in two of the four buildings. Buildings will receive full window replacements, exterior upgrades, and interior insulation to reduce drafts and improve heat retention. Wi-Fi will be installed and made available for free to all households. Apartment renovations will include full bathroom and kitchen upgrades, including brand-new appliances, finishes, cabinets, and countertops, as well as new lighting and flooring, fresh paint, and washing machine connections.   

Outdoor areas will be upgraded, including accessibility improvements, enhanced community gardens, and new fitness and playground equipment at East 152nd Street-Courtlandt Avenue, and the recently renovated playground and basketball court at Moore Houses will be enhanced with new bleachers and game tables. Both sites will receive picnic tables, benches, improved paths, plantings, lighting, and trash bins.  

In response to the significant flooding affecting heat and hot water service at Moore Houses during Hurricane Ida in September 2021, and to protect both Moore Houses and East 152nd Street-Courtlandt Avenue from future storm events, electrified mechanical systems will be elevated to limit the impacts of localized flooding, and site drainage will be enhanced to reduce flood intensity. Additional flood protection efforts will be installed at Moore to prevent flooding in known problem areas.   

East 152nd Street-Courtlandt Avenue will receive $15 million in funding from New York State’s Climate Friendly Homes Fund through New York State Homes and Community Renewal (HCR), administered by The Community Preservation Corporation, to help multifamily building owners across New York State transition to high-performance, all-electric heating, cooling, and hot water systems. As a result of damage from Hurricane Ida, Moore Houses will receive funding from the Federal Emergency Management Agency (FEMA) to provide flood protection elements, including new, elevated mechanical systems, stormwater retention tanks, active drainage and flood doors, limiting the impacts and intensity of future flood events. In addition to critical resiliency and sustainability funding, both developments, listed on the National Register of Historic Places, will receive historic tax credits to support their transformation. Together, these investments facilitate the integration of energy-efficient systems within federally recognized historic buildings. By strategically combining a range of funding sources to deliver deep energy retrofits, NYCHA continues to push the boundaries of what can be achieved through preservation and demonstrate that historic integrity and high-performance building systems can be delivered in tandem.   

Brisa Builders Development LLC, founded by Ericka Keller, is a minority, and women-owned firm, and is also the second generation in the industry, continuing the family’s history developing and constructing mixed-use, multi-family housing in New York City. Brisa Builders Development is well known for partnering with faith-based organizations to develop deeply affordable housing, with notable projects including Ebenezer Plaza in Brownsville, Bishop Philius and Helene Nicolas Senior Residences in East Flatbush, and DLAC Senior Residences in Far Rockaway, bringing more than 2,100 units of affordable housing to the northeastern region of the country.  

Mega Group is a full-service development, construction management, and general contracting firm with over 35 years of building experience in neighborhoods across New York City and the greater metropolitan region. As a vertically integrated builder and developer, Mega Group has built or renovated more than 11,600 apartment homes, and their work can be seen across the region in projects ranging from NYCHA renovations and high-rise apartment buildings to commercial buildings, landmark rehabilitation projects, schools, and public infrastructure.  

Cornell Pace Inc. is a property management firm with over 30 years of experience operating affordable housing in New York City. Cornell Pace has a long and proven history of managing large portfolios of affordable housing and NYCHA developments. With just over 5,000 units under management in New York City and surrounding counties, the company employs sophisticated management practices to realize efficient cost control, high-quality maintenance, and resident satisfaction.  

The PACT program transitions NYCHA developments from traditional Section 9 assistance to Project-Based Section 8, unlocking funding for resident-selected PACT partners to complete comprehensive repairs or build new, modern homes while enhancing property management. Overall, 170 NYCHA developments (representing over 45,000 apartments) are in pre-development, are under construction, or have completed construction through the program. This represents nearly $17 billion in capital repairs for the Authority. The Authority is working to include 62,000 apartments in the PACT program in order to bring the benefits of comprehensive investments and upgrades, as well as enhanced property management and social services, to more than 142,000 residents.