JoEL|24 Infrastructure & Modernization Initiative
ALL Resident Councils will formally opt-out of the New York City Public Housing Preservation Trust (the “Trust”). The Resident Associations determined that the best way to implement their vision of a Resident-led infrastructure and modernization plan for their homes is by forming a Resident Management Corporation (“RMC”) (see Title 24 CFR—§964:15; §964:117; §964:120; §964:225) (up to date as of 11/2/2023) that will Joint Venture (“JV”) with JoEL|24 Corporation to which the New York City Housing Authority (“NYCHA”) ownership and management will transfer.
JoEL|24 JV will enter into 99-year ground leases for NYCHA developments to secure Tenant Protection Vouchers, a subsidy worth double NYCHA’s current federal subsidy and will be converted to a more stable, federally funded program called Project-Based Section 8. This ensures homes remain permanently affordable and residents have the same basic rights (Title 24—CFR—§964) as they possess in the public housing program. This allows NYCHA/HUD to unlock funding to ensure their homes are healthy, safe, and sanitary while also keeping homes permanently affordable. This means that their homes and community spaces will receive much-needed ~$80 billion upgrades consistent with the community vision and the On-site property management and social services will be enhanced. This will include either renovation of occupied residential units or demolition of existing buildings presently owned by NYCHA and potential new-construction infill sites, as well as ancillary community facilities to be utilized for adult day healthcare, youth workforce development, and education services among others.
The project will be developed in multiple phases wherein the preservation rehabilitation work will occur first and the new construction infill sites and any associated ancillary community facilities will be developed in subsequent phases. The newly Modernized and Infill Built Houses will be modeled after the Van Dyke III PACT/RAD Model.
Van Dyke III Houses, Brownsville, Brooklyn, New York
JoEL|24 JV will establish one building in each development for Senior/Assisted Living Housing on open campus space or in a building created by the relocation or demolition. JoEL|24 JV will create a new Adult Day Healthcare and Human Services Center in the Community Facility space in the renovated or newly built senior building. JoEL|24 JV will partner with The Building and Construction Trades Council of Greater New York (“BCTC”). The BCTC represents more than 100,000 tradesmen and tradeswomen across New York City and consists of local affiliates of 15 national and international unions. In recent years, the BCTC has made significant efforts to build and grow diversity among the city’s construction industry. BCTC-sponsored pre-apprenticeship and direct-entry programs have led to the creation of thousands of middle-class careers for the city’s minority and historically underserved communities. As a result of these efforts, a majority of workers in the city’s unionized construction industry are now minority New Yorkers. JoEL|24 JV will create On-site K to Grade 3 Early Child Education Schools for the residents’ children in the Community Facility spaces.
Resident Management Corporation — JoEL|24 Initiative JV
Will Keep All Resident Rights and Protections
JoEL|24 JV will keep homes permanently affordable and preserve ALL resident basic rights and protections, as they currently possess in the public housing program and are stronger than those in the traditional Section 8 program: Residents continue to have full rights (see Title 24 CFR—§964.225 Resident Management Requirements—SUBSECTIONS (a) THROUGH (l) (up to date as of 11/29/2023)).
Residents continue
to pay 30% of their income towards rent.
Residents continue to have all succession rights and a prohibition against re-screening on the JoEL|24 JV
Section 8 Conversion.
Residency continues to be restricted to low-income residents and continues to fill vacant apartments from the NYCHA Section 8 waitlists.
JoEL|24 JV will embed all rights, affordability, and use restrictions
in the land and codify that protections cannot be changed, and buildings cannot become market rate.