[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 NYCHA2.0@nycha.nyc.gov

[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.