NYCHA's Proposal to Preserve Public Housing would lease 14 parcels of land, located within eight city housing developments, to private developers who would finance, construct, and operate the new residential buildings. The income generated through the land leases would be dedicated to building improvements at the eight developments and other public housing properties citywide. 80% of the apartments will rent at market rate, while 20% would be permanently affordable to low-income residents.
The plan would generate between $30 million-$50 million on a yearly basis. The proceeds would fund critical capital improvements that would enhance quality-of-life for NYCHA residents. Additionally, this initiative would generate approximately 800 permanently low-income housing units for eligible low-income New Yorkers. NYCHA residents would receive a preference for the low-income units.
New development will provide additional benefits to public housing residents including construction and permanent job opportunities; security enhancements to NYCHA buildings; and alternative power for elevators, heat and hot water service during blackouts and other emergencies.
_____________________________________________________________________________In this final installment, TheElectricWeb takes a closer look at NYCHA's 'Land Lease Opportunities to Preserve Public Housing.' Today we direct our focus at proposed development sites at the Baruch Houses and the Alfred E.Smith Houses on Manhattan's Lower East Side.
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Bernard M. Baruch Houses
Is the largest NYCHA development in Manhattan, has 17 buildings, some 7, 13, and 14-stories high. Baruch Houses was completed June 30, 1959 and is on 27.46-acres in Lower Manhattan. The complex has 2,193 apartments housing an estimated 5,367 residents.
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 five years.
East Houston Street Development Site:
Site Area: 26,200 SF
New Construction: 350,000 SF
210 New apartments
20% will be available to low-income households
Present Use of Proposed Site:
54 Parking Spaces
Basketball & Handball Courts
Benefits for Residents:
Central Plaza redesign
Preference for new low-income apartments
Emergency power generation for critical building systems
Temporary and permanent job opportunities
Enhanced security for development
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Governor Alfred E. Smith Houses
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 five years.
Site Area: 26,200 SF
New Construction: 350,000 SF
210 New apartments
20% will be available to low-income households
Present Use of Proposed Site:
54 Parking Spaces
Basketball & Handball Courts
Benefits for Residents:
Central Plaza redesign
Preference for new low-income apartments
Emergency power generation for critical building systems
Temporary and permanent job opportunities
Enhanced security for development
Governor Alfred E. Smith Houses
This complex in Lower Manhattan has 12 buildings: 15, 16 and 17-stories tall, with 1,931 apartments housing some 4,316 people. The 21.75-acre complex was completed in 1953.
The Alfred E. Smith Houses has a $227 million unmet need for capital improvements over the next five years.
Development Sites:
South Street: 55,000 SF
Robert Wagner Pl: 19,000 SF
New Construction:
1,365,000 SF of Residential
1550 New Apartments
20% available to low-income households
Present Use of Proposed Site:
116 Parking Spaces
Garbage Compactor Yard
Paved Baseball Field
Basketball & Handball Courts
Benefits for Residents:
Preference for new low-income apts
Emergency power for building systems
Temporary & permanent jobs
Enhanced security for development
The Alfred E. Smith Houses has a $227 million unmet need for capital improvements over the next five years.
South Street: 55,000 SF
Robert Wagner Pl: 19,000 SF
New Construction:
1,365,000 SF of Residential
1550 New Apartments
20% available to low-income households
Present Use of Proposed Site:
116 Parking Spaces
Garbage Compactor Yard
Paved Baseball Field
Basketball & Handball Courts
Benefits for Residents:
Preference for new low-income apts
Emergency power for building systems
Temporary & permanent jobs
Enhanced security for development
