Deputy Director for Real Estate Development Polina Bakhteiarov has been recognized as one of Real Estate Weekly’s 2018 “Rising Stars of Real Estate.”
“As a public servant, I am very grateful to be recognized by the real estate industry,” Ms. Bakhteiarov told NYCHANow. “I am passionate about our work to preserve public housing and ensure that our city continues to provide affordable housing options for future generations. It is an honor to do my part to house the 1 in 14 New Yorkers who call us ‘home.’”
Through the Permanent Affordability Commitment Together (PACT) initiative, Ms. Bakhteiarov leads NYCHA’s efforts to preserve a total of 20,000 public housing units by converting them to a Section 8 funding stream. These apartments are located in both scattered-site developments (smaller, non-traditional public housing like low rises and brownstones) as well as developments that were built by the City and the State. They do not receive direct federal funding to support their operations and major repair needs.
The conversion to Section 8 allows NYCHA and its development partners to raise funds for renovations, improved operations, and social services delivery at these buildings. Conversion is currently underway at 18 developments in the Bronx and five developments in Brooklyn. NYCHA has launched resident engagement efforts at two additional sites in Brooklyn. More PACT conversions are expected to be announced this summer.
Before joining NYCHA in 2016, Ms. Bakhteiarov served in a variety of roles on the Mayor of Washington, DC’s economic development team, including executive director of a commercial revitalization initiative and manager of projects that involved public housing revitalization. She has also led redevelopment, community asset building, and organizing initiatives in Lawrence, MA, and New Orleans, LA. Ms. Bakhteiarov’s interests outside of urban development include promoting STEM diversity and inclusion and community-based mental health.