Rehabilitation
The Office of Real Estate Development is implementing a variety of initiatives to address the backlog of physical needs within the Public Housing portfolio. The underlying intent in weighing various strategies to preserve the portfolio has been a) to ensure optimal benefits to residents and b) to stay aligned with the HACSB mission to provide quality and sustainable affordable housing. In considering difficult scenarios involving disposition, loss of public housing units, or delayed capital investment, HACSB must continually consider how these scenarios will impact current and future HACSB residents.
The following specific strategies currently being implemented by the Office of Real Estate Development are intended to maximize the resources available to stabilize and enhance the portfolio:
- Capital Fund Financing to accelerate access to capital funds for immediate needs (currently underway).
- Public-private partnerships (mixed-finance) to secure funding for redevelopment.
- Energy Performance Contracting and other grant opportunities to leverage private sector funding for power and water systems and other energy-related upgrades.
- Disposition or transfer of property if the result would either stabilize the property as affordable housing under new ownership, or provide resources to create or preserve better quality affordable housing.
To read more about our recent revitalization efforts at the Waterman Gardens Housing Community, click here.
Click here for current Bid Opportunities