79 Years Strong
3Carver HousesMarch 2013Preserving Public Housing
A Roadmap for PreservationEnsures that public housing remains available forcurrent and future generations of New Yorkers4
Plan NYCHA Development NYCHA worked hand in handby hosting dozens of meetingswith residents, electeds,community partners ...
A Roadmap for the FutureA Call to: Preserve publichousing – buildings,communities andopportunities Restore financialstab...
Why Now?NYCHA Is Struggling To Get Ahead Severe governmentfunding shortages Unmet capital needs Structural operatingdef...
Two Different FederalFunding StreamsCapital:► Covers roofs, bricks,elevators andelectrical, plumbingand heating systems► R...
-$900-$800-$700-$600-$500-$400-$300-$200-$100$02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012InMillionsofDoll...
-$800-$700-$600-$500-$400-$300-$200-$100$02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Loss Of Operating Dol...
$13.4 Billion Unmet Capital NeedNYCHA Wide for the Next 5 YearsCarver Houseshas $41Millionneeded forcapitalimprovements11
Plan NYCHAIs Our Plan Of ActionTo restorefinancial stabilityby looking forother sources oflong-termfundingopportunities12
Proposed Plan will help Preserve PublicHousing for Current and Future Families NYCHA would lease (notsell) 14 parcels of ...
Proposed Plan will help Preserve PublicHousing for Current and Future Families Private developers willpay NYCHA for the r...
Setting the Record StraightThe Development Plan Will: Not increase rent for NYCHAresidents due to the newdevelopments. N...
NYCHA’s Core Principles for Development Location of new buildings alongstreet fronts to encouragepedestrian traffic and c...
NYCHA’s Core Principles for Development Where space is available,other impacted areas willbe relocated, replacedand/or re...
Benefits NYCHA Wide This initiative will generate between $30 Millionand $50 Million of funding on a yearly basis for99 y...
Carver Houses: Where We Are192,787 residents live at Carver Houses
Carver Houses Today20
E 102nd St & Madison Ave Site Site Area: 14,000 SF New Construction: 242,000 SF (approx.)E 102nd St & Park Ave Site Sit...
Benefits for Carver Houses Residents Preference for low incomeapartments in the newbuildings Affordability restrictions ...
Closing Statement23
24Q & A
NYCHA Infill Sites Presentation for Resident Meeting 3-10-13 Carver
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NYCHA Infill Sites Presentation for Resident Meeting 3-10-13 Carver

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Carver Houses has a $41 million unmet need for capital building improvements.

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  • Presenter – Commissioner López
  • Presenter – Commissioner López
  • Presenter – Commissioner López
  • Presenter – Commissioner López
  • Presenter – Commissioner López
  • Presenter – Commissioner López
  • Presenter – Commissioner López will ask staff from Capital Projects and Operations to explain Capital and OperationFunding – Rebecca Finlan from Capital Projects- Luis Ponce form Operations
  • Presenter – Rebecca Finlan, Capital Projects
  • Presenter – Luis Ponce, Operations
  • Presenter – Commissioner López will present this slide and then turn over presentation to EVP Fred Harris$6 Billion is the current unmet capital need$7.4 is the unmet capital need for the next 5 years for a total amount of $13.4 Billion
  • Presenter –Executive Vice President for Development, Fred HarrisHand off to Operations Presenter
  • Presenter –Executive Vice President for Development, Fred Harris
  • Presenter –Executive Vice President for Development, Fred Harris
  • Presenter –Executive Vice President for Development, Fred Harris
  • Presenter –Executive Vice President for Development, Fred Harris
  • Presenter –Executive Vice President for Development, Fred Harris
  • Presenter –Executive Vice President for Development, Fred Harris who will then turn it over to Commissioner López.Commissioner López will then introduce Bernel Hall, Senior Transactional Manager for Development
  • Presenter – Bernel Hall- Senior Portfolio Manager
  • Presenter – Bernel Hall- Senior Portfolio Manager
  • Presenter – Bernel Hall- Senior Portfolio Manager
  • Presenter – EVP Fred Harris
  • Presenter – EVP Fred Harris
  • Commissioner Lopez and team will field questions from the audience
  • NYCHA Infill Sites Presentation for Resident Meeting 3-10-13 Carver

    1. 1. 79 Years Strong
    2. 2. 3Carver HousesMarch 2013Preserving Public Housing
    3. 3. A Roadmap for PreservationEnsures that public housing remains available forcurrent and future generations of New Yorkers4
    4. 4. Plan NYCHA Development NYCHA worked hand in handby hosting dozens of meetingswith residents, electeds,community partners andemployees Thousands of residentsprovided input into proposalsincluding:o Looking at ways to use NYCHA’smost valuable asset –our land- togenerate revenueo Development of new mixed-use,mixed-income housing to supportmore families in need5
    5. 5. A Roadmap for the FutureA Call to: Preserve publichousing – buildings,communities andopportunities Restore financialstability Transform the way wedo things Improve services6
    6. 6. Why Now?NYCHA Is Struggling To Get Ahead Severe governmentfunding shortages Unmet capital needs Structural operatingdeficit Regulatory burdenshinder us fromcontrolling costs Aging and decayingbuildings7
    7. 7. Two Different FederalFunding StreamsCapital:► Covers roofs, bricks,elevators andelectrical, plumbingand heating systems► Requires long termplanning► Calls for complex andlengthy executionOperating:► Covers buildingmaintenance andrepairs, day to dayoperations andadministration► Based on HUD fundingformula that shortchanges NYCHA8
    8. 8. -$900-$800-$700-$600-$500-$400-$300-$200-$100$02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012InMillionsofDollars Insufficient Capital Funds ForRehabilitation Needs9Underfunded by$876 Million
    9. 9. -$800-$700-$600-$500-$400-$300-$200-$100$02001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012Loss Of Operating Dollars ForMaintenance, Repairs And Services10$ 750 MillionDeficitDollarsinMillions
    10. 10. $13.4 Billion Unmet Capital NeedNYCHA Wide for the Next 5 YearsCarver Houseshas $41Millionneeded forcapitalimprovements11
    11. 11. Plan NYCHAIs Our Plan Of ActionTo restorefinancial stabilityby looking forother sources oflong-termfundingopportunities12
    12. 12. Proposed Plan will help Preserve PublicHousing for Current and Future Families NYCHA would lease (notsell) 14 parcels of landlocated within 8developments Income generated will bededicated to buildingimprovements for publichousing The developers will finance,construct, and operate newresidential buildings.13
    13. 13. Proposed Plan will help Preserve PublicHousing for Current and Future Families Private developers willpay NYCHA for the rightto build on leased landthat NYCHA owns (andwill continue to own) Approximately 80% ofthe apartments will bemarket rate and 20% willbe permanently lowincome 14
    14. 14. Setting the Record StraightThe Development Plan Will: Not increase rent for NYCHAresidents due to the newdevelopments. Not demolish public housingapartments Not displace NYCHA families Not privatize – NYCHA will still bethe landlord Not sell the land; NYCHA will ownthe land under the new buildings. Not result in job losses or increasedwork requirements for NYCHApersonnel.15
    15. 15. NYCHA’s Core Principles for Development Location of new buildings alongstreet fronts to encouragepedestrian traffic and campusintegration with theneighborhood Replacement of all parkingspaces for all current residentlegal permit holders at impacteddevelopments Compactor yards relocated oncampus16
    16. 16. NYCHA’s Core Principles for Development Where space is available,other impacted areas willbe relocated, replacedand/or reconfigured (i.e.,seating areas and gardens) NYCHA will remain yourlandlord and retainownership of the landunder the new buildings via99-year ground leases17
    17. 17. Benefits NYCHA Wide This initiative will generate between $30 Millionand $50 Million of funding on a yearly basis for99 years (term of ground lease) New funding streams will be used to improve thequality of life of NYCHA residents by funding aportion of critical capital improvements This initiative will generate approximately 800permanently low income housing units for lowincome New Yorkers NYCHA residents will be given a preference forthe low-income units18
    18. 18. Carver Houses: Where We Are192,787 residents live at Carver Houses
    19. 19. Carver Houses Today20
    20. 20. E 102nd St & Madison Ave Site Site Area: 14,000 SF New Construction: 242,000 SF (approx.)E 102nd St & Park Ave Site Site Area: 23,000 SFProposed Floor Area 242,000 SF Residential Floor Area 500,000 SF Community Facility FloorArea (eg. Medical Facility, StudentDormitory) 1Affordable units will be available tohouseholds with incomes at or BELOW60% of Area Median Income (AMI)Development Opportunity at Carver Houses21Maximum Allowable Income1 person $ 36,1202 persons $ 41,2803 persons $ 46,4404 persons $ 51,5401Based on Dept. of Housing and UrbanDevelopment 2013 (HUD) Standards
    21. 21. Benefits for Carver Houses Residents Preference for low incomeapartments in the newbuildings Affordability restrictions arepermanent Alternative power for systemsduring blackouts such ashallway and stair lighting, heatand hot water, elevators andsecurity Construction and permanentjob opportunities for NYCHAresidents Enhanced security features forthe entire development22
    22. 22. Closing Statement23
    23. 23. 24Q & A

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