First Resident Vote Certified: Nostrand Residents Select the Trust
Dear Colleagues,
I am pleased to announce that a third-party election administrator has certified the results of the first resident vote at NYCHA: Nostrand Houses residents selected the Public Housing Preservation Trust as the path forward for their homes. The Trust will fully renovate Nostrand residents’ apartments and address the development’s major repair needs.
This is an unprecedented and historic moment, a major milestone in our efforts to bring our developments the investment they desperately need and transform residents’ quality of life. It’s an achievement that demonstrates the power of resident engagement to strengthen communities.
During the 30-day voting period, which ran from November 8 through December 7, Nostrand Houses residents voted on whether to have their development renovated through the Trust or the Permanent Affordability Commitment Together (PACT) initiative, or whether they want to remain in the current Section 9 program. The voting period was preceded by 100 days of public engagement, where residents learned more about the voting options through meetings and direct interactions with NYCHA staff.
Both the Trust and PACT bring developments the more stable Section 8 federal funding, which is worth nearly double what Section 9 apartments receive. These initiatives also ensure that NYCHA developments remain public and that residents maintain their rights and protections, including permanently affordable rent. The Trust is a fully public agency that was created last year and signed into law by Governor Hochul. It has the potential to unlock billions of dollars in comprehensive renovations for NYCHA apartments, providing residents with the dramatically improved homes they deserve. And PACT is already benefitting many NYCHA families – so far, 20,000 apartments have been converted to PACT, and a record $1.81 billion in financing for capital repairs was closed this year across four PACT deals.
NYCHA developments collectively have more than $78 billion in major repair needs, the result of decades of federal government disinvestment. Now is the time to take action with creative solutions that will help address the significant needs.
Our mission is to work in collaboration with residents and other partners to put the Authority on a better and more sustainable path for the future. We recently announced that Bronx River Addition will be the next development whose residents will vote on the future of their homes. We will continue to keep you updated as we make progress together on this exciting journey.
In partnership,
Lisa Bova-Hiatt, Chief Executive Officer
