NEW YORK CITY — The New York City Housing Authority (NYCHA) has closed on the financing for a $272.6 million renovation of Metro North Plaza and Gaylord White Houses, two public housing communities in East Harlem.
The properties were selected to be part of the Permanent Affordability Commitment Together (PACT) program, created by the City as part of a larger plan to modernize public housing. NYCHA needs more than $78 billion to fully restore and renovate all its buildings, but, according to the City’s website, the federal government has only provided a fraction of the funding needed for these improvements.
Under the PACT program, buildings targeted for renovation are converted to Section 8 through the federal Rental Assistance Demonstration (RAD) program, unlocking funding that will allow redevelopment. Before their Section 8 conversion, which was made official in September 2024, Metro North Plaza and Gaylord White Houses were traditional, federally subsidized NYCHA public housing developments.
Under PACT, they shift to project-based Section 8, which allows NYCHA and its partners to raise private financing and federal tax credits to fund major renovations — something not possible under the old public housing funding system.
The PACT project team — consisting of Boston-based affordable housing nonprofit The Community Builders and Harlem-based affordable housing developer Ascendant Neighborhood Development — will rehab 523 apartments, shared spaces, grounds and building infrastructure. Completion is slated for late 2028.
Following the financial closing, Wavecrest Management will handle the day-to-day property management responsibilities at the developments. Social services will be expanded through a partnership with The Community Builders’ Community Life team and existing on-site and local social service providers. NYCHA will remain the owner of both buildings. Metro North Plaza was built in 1971. Gaylord White Houses, a public housing development for seniors, was completed in 1964.
“We recognize that many of the conditions in NYCHA buildings are unacceptable and unsafe,” according to the City’s website. “Renovations are long overdue but necessary to ensure that the day-to-day needs of residents are met and living conditions improve. PACT is a critical tool that, through partnerships with private and non-profit development partners, allows us to not only modernize homes but also provide enhanced community services and amenities.”