NYC Secures $92.5M Housing Upgrade
New York City Housing Authority has secured $92.5 million in financing for a major overhaul of the Campos Plaza II affordable housing complex. The project aims to deliver substantial upgrades to living conditions, safety, and amenities for residents. This represents one of the largest single affordable housing renovation investments in recent NYC history.
The financing is part of NYCHA's Permanent Affordability Commitment Together (PACT) program, which converts public housing to Project-Based Section 8. This transition unlocks federal funding for comprehensive repairs that would otherwise be delayed due to capital funding shortfalls. Residents' rights and affordable rent levels are preserved under this model. The overhaul at the two-building complex will address long-standing capital needs for its more than 450 residents. The project team includes L+M Development Partners and Type A Projects, who were selected in coordination with resident leaders to carry out the renovations. C+C Apartment Management will take over property management from NYCHA. Every one of the 224 apartments will receive full kitchen and bathroom renovations, new appliances, new flooring, and fresh paint. A major system change involves replacing steam heat with individual electric heat pump units, allowing residents to control their own heating and cooling. Building-wide upgrades include complete facade and roof repairs, new windows, and modernized elevators. Security will be enhanced with over 200 new cameras, improved lighting, and a new key fob access system, while building lobbies will be expanded and updated. The project also focuses on community amenities, with plans for a new fitness center, a renovated community center operated by University Settlement, and a new senior center run by Henry Street Settlement. Outdoor spaces will be redesigned with new landscaping, seating areas, a children's playground, and a sidewalk art installation. Funding for the modernization was partially raised through the 2024 sale of approximately $19.5 million in air rights to a neighboring property. The entire renovation project is expected to take about three years to complete.
