In the late 1970s and early 1980s, the US Department of Housing and Urban Development transferred more than 700 FHA-repossessed homes and buildings to NYCHA. NYCHA utilized these properties as additional public housing, while working with tenants so they could become eventual homeowners of the properties. In the past 35 years, NYCHA has helped more than 300 NYCHA residents become homeowners of FHA Homes.
Currently, we are working with a group of NYCHA residents in our homeownership program to assist in the purchase of their NYCHA home. Without the adequate resources to maintain or bring all of the aging FHA Repossessed Homes up to a state of good repair, many have become inhabitable. NYCHA is partnering with organizations such as Habitat for Humanity and Restored Homes to transfer many of these properties for rehabilitation and provide homeownership opportunities to low income families.
NYCHA will seek partners who are willing to take over and rehabilitate the current 16 vacant single-family homes, as well as the last six multi-family homes. NYCHA will then set income restrictions on the resale of these properties to maintain affordability. The selected applicant will be responsible for design of rehabilitation scope of work and financing.