[1]
Fulton Houses – NYCHA 2.0Resident MeetingMay 2019
[2]
Agenda
1. Introductiona. Why Fulton
Housesb. Fulton Houses
Physical Needs Assessment (PNA)
c. Federal Disinvestment
2. NYCHA 2.0 at Fulton Housesa. Potential Toolsb. Concept
3. Commitments
4. NYCHA 2.0 Protections
5. Process Overview
6. Completed Project
7. Q & A at Tables
8. Report Out
9. Next Steps
[3]
Introduction – Why Fulton Houses
1. Fulton Houses is deeply affordable and we must preserve it• Average 2-BR Rent in Chelsea neighborhood: $4752*
• Average 2-BR Rent in Fulton Houses: $631
2. But, NYCHA has limited funding and Fulton needs over $168 million for repairs
3. NYCHA has an opportunity to fully renovate Fulton Houses, while keeping rents permanently affordable and maintaining full resident rights
* Source: MNS. Manhattan Rental Market Report, 2019.
[4]
Overview
Apartments 944
Buildings 11
Residents 2,166
Capital Needs
5-Year Need $168 M+
Need Per Unit $178 K
Introduction – Physical Needs Assessment
Fulton Houses
Apartment Interiors38%
Building Exteriors & Common Spaces
36%
Elevators12%
Electrical7%
Mechanical2%
Site5%
$168+ Million
[5]
Introduction - Federal Disinvestment
FEDERAL FUNDING VS CAPITAL NEED
5-YEAR CAPITAL NEED
5-YEAR FEDERAL FUNDING
[6]
NYCHA 2.0 – Potential Tools
1Build to Preserve• Funds renovations at host NYCHA developments by
constructing new mixed-income buildings• Creates new permanently affordable units for neighborhood
2PACT to Preserve• Funds rehabs by converting to more stable Section 8 funding• Maintains NYCHA resident rights and protections• Keeps NYCHA ownership of the land and buildings, as well
as control over major decisions
3Transfer to Preserve• Generate revenue for host NYCHA developments through
transfer of air rights at high-value sites to generate revenue to deliver renovations
[7]
W19th St
Size 19,500 SF
Current Uses
Fulton Building 11(36 units), Playground, 12 Parking Spaces, Waste Equipment
W 17th St
Size 6,090 SF
Current Uses
Basketball Court, Seating Area
W 16th St
Size 9,750 SF
Current Uses
Fulton Building 1(36 units)
Concept
• New replacement housing for approximately 72 public housing families at West 17th• 700+ new apartments with MIH affordability at West 19th and West 16th
• Revenue from New Construction (BTP) + PACT to address full capital needs of Fulton• Opportunity to consider other development sites
[8]
Commitments
1. No Displacement - All NYCHA residents will get full renovations for their current apartment or move into a brand new or renovated apartment at Fulton.
2. Rents Unchanged at 30% of Income
3. All Residents Maintain Rights
[9]
NYCHA 2.0 Protections
Rent: continue paying no more than 30% of income on rent
Lease Renewal: automatic if resident is in good standing
Resident Organizations: establish and maintain organizations recognized by NYCHA
Succession Rights: continue for current public housing residents
Hearings: residents have the right to a hearing to resolve grievances
NYCHA Residents’ Bill of Rights
[10]
Fall 2019
Summer2019
Winter 2020 –Summer 2021
VisioningSeries
RFPProcess
Pre-Development
SelectDeveloper
2021 - 2023
RelocationPACT Repairs + First Phase of New Construction
Planning
Spring 2019
Environmental Assessment + Section 18
Process Overview
2023 - 2026
Final Phase of New Construction
[11]
Completed Project – NYCHA 2.0
Before After
[12]
Completed Project – NYCHA 2.0
Before After
[13]
Q & A at Tables
[14]
Report Out
[15]
Next Steps
OpenCommunityMeetingTuesday,June4th,6:30-8:30pmatIS70,333West17thSt.
Visioning Sessions June through September
If you have questions call 212-306-4660 or email [email protected]
[16]
Appendix: Recent/Planned1 Upgrades
Scope Budget Completion Date
Fulton(Planned) Community Center Mechanical Upgrades $2.1 M 2020(Planned) Accessible Ramps & Garbage Hoist $540 K 2020Playground Upgrade $770 K 2019Community Center Renovation $7.4 M 2018Gas Riser Replacement (Bldg #8) $130 K 2018Brick Repairs (LL11) $3.5 M 2018Security Enhancements $680 K 2013
1) Planned work only includes projects with 2019 anticipated start dates.