The New York City Housing Authority (NYCHA) and Reid Park Rock PACT Partners, which includes Fairstead, BRP Companies, Urbane and the Local Development Corporation of East New York (LDCENY), marked the completion of the $636 million rehabilitation of Reid & Park Rock homes in East Brooklyn.
Renovations at Reid & Park Rock, formerly the Reid Apartments and Park Rock Consolidated developments, were completed through Permanent Affordability Commitment Together (PACT) program. The rehabilitation modernized 1,696 affordable homes across 87 buildings, delivering interior and exterior apartment upgrades, building system improvements, enhanced security measures and expanded resident services for nearly 3,000 residents.
“The $636 million rehabilitation of Reid & Park Rock is an impressive achievement in the scale and breadth of improvements delivered through NYCHA’s PACT program,” said NYCHA Executive Vice President and Chief Real Estate Officer Heather Beck. “Across 15 developments, comprised of 87 buildings, the project modernized 1,696 homes while upgrading critical building systems and facades, security infrastructure, and accessibility features. Residents are also benefiting from improved common areas, community spaces and storefronts, free community-wide Wi-Fi, outdoor amenities, expanded social services shaped by resident priorities, and capacity-building for resident leaders. This project has again demonstrated how comprehensive investments through the PACT program can strengthen not just the buildings but the long-term well-being of the people who call them home.”
The preservation and modernization project delivered significant upgrades to every apartment and common area throughout the 15 NYCHA developments that make up Reid & Park Rock. Renovations included upgraded kitchens and bathrooms, new floors, appliances, fixtures and finishes, modernized mechanical systems including heating and ventilation, restored building facades, enhanced security infrastructure and access control, improved lighting, elevator upgrades and accessibility improvements.
The project also introduced upgraded lobbies and common areas, new storefronts, new community spaces, free community-wide Wi-Fi and extensive site, landscaping and outdoor amenity improvements designed to foster connectivity and improve overall resident well-being.
“The completion of Reid & Park Rock represents a major investment in the homes, communities, and quality of life for nearly 3,000 NYCHA residents,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “Through PACT, we are delivering modernized homes, improving building systems, and expanding services that help residents and families thrive. This milestone reflects what is possible when NYCHA works hand in hand with residents and dedicated partners to make lasting improvements across our communities.”
In addition to the physical improvements, residents now have access to expanded support services through a partnership with Black Veterans for Social Justice (BVSJ), which offers case management support and connects families to resources including healthy food programs, workforce development opportunities, youth programming and senior services. BVSJ was selected by Reid & Park Rock resident leaders, making Reid & Park Rock the first PACT project to reach completion where the social service provider was chosen by residents themselves.
Furthermore, the Central Brooklyn EDC equipped resident leaders at all 15 developments with capacity-building and leadership training, strengthening Tenant Associations’ ability to raise funds, host community events, and deliver services to residents.
The redevelopment of Reid & Park Rock was made possible through NYCHA’s PACT program, which transitions NYCHA developments from traditional Section 9 assistance to Project-Based Section 8, unlocking funding for resident-selected PACT partners to complete comprehensive repairs or build new, modern homes while enhancing property management. While the conversion unlocks and allocates critical financing to make much-needed infrastructural improvements, it also preserves residents’ rights and ensures the long-term affordability of their homes.
The rehabilitation was undertaken by Reid Park Rock PACT Partners, a partnership of Fairstead, BRP Companies, LDCENY and Urbane. Fairstead served as co-developer, general contractor and property manager; BRP Companies served as co-developer; Urbane served as co-developer and community partner; and LDCENY served as community partner.
Financing was provided through a combination of public and private sources, including support from the New York City Housing Development Corporation (HDC), which serves as a key financing partner for PACT transactions citywide. Equity capital was provided by The Vistria Group, a middle market private investment firm, while Merchants Capital served as a financial partner for the transaction.
