Great news: The New York City Housing Authority just struck a deal to put nearly 6,000 units under private management — while yielding more than $1.5 billion for repairs across the system.
That follows another recent “privatization” of 2,600 units in Brooklyn that will bring in $370 million, with another deal soon to close that will put 1,700 more Manhattan apartments under private management.
Tenants keep their same rent and rights, and NYCHA retains an ownership stake. It’s all proceeding under the Obama-era Rental Assistance Demonstration program.
NYCHA chief Gregory Russ aims to put 62,000 public housing units into RAD over the next eight years. It’s key to saving all city public housing, since there’s otherwise no hope that the city, state or feds will supply remotely enough cash to cover the $40 billion or more that NYCHA faces in repair work.
Most important: Tenants in projects that have already entered RAD are overjoyed with the results, with major repairs done and new management that’s far more responsive.
Last month, US Housing Secretary Ben Carson told The Post editorial board that NYCHA’s leaders have to “address the disease, not simply treat the symptoms.” Here’s clear evidence that they’re doing just that.
https://nypost.com/2020/02/13/great-news-for-nycha-and-its-tenants/
That follows another recent “privatization” of 2,600 units in Brooklyn that will bring in $370 million, with another deal soon to close that will put 1,700 more Manhattan apartments under private management.
Tenants keep their same rent and rights, and NYCHA retains an ownership stake. It’s all proceeding under the Obama-era Rental Assistance Demonstration program.
NYCHA chief Gregory Russ aims to put 62,000 public housing units into RAD over the next eight years. It’s key to saving all city public housing, since there’s otherwise no hope that the city, state or feds will supply remotely enough cash to cover the $40 billion or more that NYCHA faces in repair work.
Most important: Tenants in projects that have already entered RAD are overjoyed with the results, with major repairs done and new management that’s far more responsive.
Last month, US Housing Secretary Ben Carson told The Post editorial board that NYCHA’s leaders have to “address the disease, not simply treat the symptoms.” Here’s clear evidence that they’re doing just that.
https://nypost.com/2020/02/13/great-news-for-nycha-and-its-tenants/
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