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Dinkins selects housing rehabbers.

Dinkins selects housing rehabbers

Mayor David N. Dinkins and Housing and Preservation and Development Commissioner Felice Michetti announced that 10 developers have been selected to rehabilitate 468 units of housing for low and moderate-income as well homeless families who live in overcrowded or doubled-up households throughout Manhattan, Brooklyn and the Bronx.

The units are being rehabilitated under the Vacant Building Program, a program established to rehabilitate abandoned, Cityowned buildings to provide affordable housing for low- and moderate-income families in New York City. Under this program, more than 3,800 units in vacant buildings have been rehabilitated to date.

Mayor Dinkins said, "The Vacant Building program is yet another example of what can happen when the public and private sectors work together to produce affordable housing. Through this program, thousands of New Yorkers have already been provided with decent affordable apartments. This is another step forward in addressing the housing crisis which faces those families most in need of housing. We will continue to aggressively pursue opportunities to provide low- and moderate-income New Yorkers with access to decent affordable housing."

Developers for this 10th round of the Vacant Building Program were selected through a Request For Proposals (RFP) process which was issued in November of 1990. Seventy-two developers responded to the RFP, and submitted 132 proposals for rehabilitation the 10 sites.

Under this program, the Department of Housing Preservation and Development offers developers and not-for-profit organizations, vacant buildings for $500 a unit contingent upon the rehabilitation of the structures using both private and public funds. Organizations must also maintain rents at levels affordable to low- and moderate-income families.

The 10 firms chosen are: Manhattan Powell Limited Partnership (L.P.), Lenox 138 Limited Partnership (L.P.), United General Construction Corporation, BFC Partners, Thomas Norman Group, CLM Equities, Partners for Housing, Century Partners, Naftali Frankel.
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Title Annotation:Property Improvement Supplement; NY City Mayor David N. Dinkins
Publication:Real Estate Weekly
Article Type:Brief Article
Date:Oct 16, 1991
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