"Saundrea Coleman knocked on doors and persuaded 279 other tenants to stick with Section 9 funding and NYCHA management, which has left the Yorkville campus with $248 million in capital needs over the next 20 years."
"Switching Isaacs Houses from Section 9 to a more reliable funding stream would have given lenders confidence to finance renovations to the 633-unit development."
"To get that $248 million, Coleman and other tenant leaders will have to continuously pressure the government for grants. That's not something public housing residents have ever done."
Tenants at NYCHA's Stanley Isaacs Houses voted against privatization, opting to maintain Section 9 funding and NYCHA management. Saundrea Coleman mobilized 279 residents to reject a shift to the New York City Public Housing Trust, which would have provided a more reliable funding stream for renovations. The complex faces $248 million in capital needs over the next 20 years, requiring ongoing pressure on the government for grants. The situation highlights the challenges public housing residents face in securing necessary funding for improvements.
Read at therealdeal.com
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