Baruch Houses Land Lease Presentation 4-22-13 (English)

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Baruch Houses has a $251 million unmet need for capital improvements over the next 5 years. Baruch Addition has as $13 million unmet need for capital improvements over the next 5 years.

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Baruch Houses Land Lease Presentation 4-22-13 (English)

  1. 1. Preserving Public HousingRoundtable DiscussionBaruch HousesApril 22, 2013
  2. 2. 2Introductions
  3. 3. Conversation Guidelines3 Let’s hear from everyone No interruptions Treat everyone with respect Respect different opinions No videotaping Facilitators will take comments and questions attables Note-takers are capturing ideas and opinions. Nonames will be used.
  4. 4. NYCHA’s Land Lease ProposalProposal to lease land to a developer forconstruction of a new apartment building.All revenue will go to building improvementsat Baruch Houses and otherNYCHA developments.4
  5. 5. 5 Overview of Land Lease Proposal Building Site and Design Options Request for Proposal Project Timeline Comments and Q & ADiscussion Topics
  6. 6. 6Overview of Land LeaseProposal
  7. 7. $13.4 Billion Unmet Capital NeedNYCHA Wide for the Next 5 YearsBaruch Houses currentlyhas $264 Million incapital needsNYCHA’s current 5 yearModernization Planbudgets $10.7 Million forBaruch Houses for 2013-20177
  8. 8. Overview: Land Lease Proposed Plan NYCHA would lease (not sell)14 parcels of land locatedwithin 8 developments Income generated will bededicated to buildingimprovements for publichousing The developers will finance,construct, and operate newresidential buildings. Approximately 80% of theapartments will be market rateand 20% will be permanentlylow income 8
  9. 9. Setting the Record Straight:At Baruch the Development Plan Will: Not increase rent for NYCHA residentsdue to the new developments. Not demolish public housing apartments Not move NYCHA families Not privatize – NYCHA will still be thelandlord Not sell the land; NYCHA will own theland under the new buildings. Not result in job losses or increasedwork requirements for NYCHApersonnel.9
  10. 10. NYCHA’s Core Principles for Development All new buildings located alongstreet fronts to encouragepedestrian traffic and campusintegration with the neighborhoodand reduce construction impact Replacement of all parkingspaces for all current residentlegal permit holders NYCHA will remain your landlordand retain ownership of the landunder the new buildings via99-year ground leases10
  11. 11. Benefits NYCHA Wide This initiative will generate between $30 millionand $50 million of funding on a yearly basis for99 years (term of ground lease) All revenue will be used to improve the quality oflife of NYCHA residents by funding a portion ofcritical capital improvements – example: roofs,elevators, boilers, electrical system, apartmentupgrades11
  12. 12. Benefits for Baruch Houses Residents Alternative power for systems during blackoutssuch as hallway and stair lighting, heat and hotwater, elevators and security Construction and permanent jobs opportunitiesfor NYCHA residents Enhanced security features for the entiredevelopment Preference for low income apartments in thenew buildings Affordability restrictions are permanent12
  13. 13. 13Baruch HousesLand Lease Plan
  14. 14. Baruch Houses: Where We Are144,280 residents live at Baruch Houses
  15. 15. Development Opportunity at Baruch HousesDevelopment Site: Site Area: 26,200SF (approx.) New Construction: 350,000 SF(approx.) / 378 Apartments* Affordable units will beavailable to households withincomes at or BELOW 60% ofArea Median Income (AMI)15Maximum Allowable Income1 person $ 36,1202 person $ 41,2803 person $ 46,4404 person $ 51,540*Calculation based on 925 SF unit size assumption
  16. 16. East Houston Street Development SiteBaruch Houses: Development Site
  17. 17. 17Comments and Concerns aboutLand Lease ProposalGroup Discussion #1
  18. 18. 18Process to ask developers fortheir ideas based on specificguidelines that NYCHA providesRequest for Proposal
  19. 19. RFP is currently in development19Guidelines Under Consideration Alternate power source Distribution of apartment units Employment opportunities & training Preference for Baruch Houses residents foraffordable units Financial literacy training
  20. 20. Group Discussion #220Request for Proposal Alternate power source Distribution of apartment units Employment opportunities & training Preference for Baruch Houses residents foraffordable units Financial literacy training
  21. 21. Next Steps in 201321 RFP out end of April Round of resident discussions Proposals submitted July/August Round of resident discussions Designation of developer Fall 2013 Round of discussions with residents, NYCHA Staffand designated developer
  22. 22. Key Milestones 2014-2016Ongoing resident discussions22 Environmental review Submission of Section 18 application HUD Review of Section 18 application Upon approval, enter lease agreement Construction preparation & groundbreaking
  23. 23. 23Q & A
  24. 24. 24Land Lease Websitehttp://on.nyc.gov/landleasePublic comments can be submitted online and in writing to:New York City Housing AuthorityLand Lease CommentsPO Box 3422New York, NY 10008

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