NYCHA intends to leverage its large landholdings and new partnerships with private developers to create additional deeply affordable housing and generate revenue for repairs. The authority controls 2,473 acres and serves a population comparable to Minneapolis, while facing a $78.6 billion backlog in physical repair needs as of 2025. NYCHA seeks proposals that use tools such as RAD, project-based vouchers, or selling development rights to fund repairs or new units. The city is converting 38,000 units through PACT and moving 1,700 units into a Preservation Trust to increase federal payments and support rehabilitation.
NYCHA is looking to leverage its large footprint together with private development to help address New York City's housing crisis and the agency's own deep rehabilitation needs. NYCHA has 2,473 acres of land in the city and a population the size of Minneapolis. As of 2025, the aging NYCHA housing stock has a $78.6 billion backlog in physical repair needs after decades of federal disinvestment.
NYCHA is already converting 38,000 units to private management under the city's PACT program. PACT converts public housing subsidies to project-based vouchers, which command a higher payment from the federal government, generating revenue NYCHA plans to use on repairs. Another 1,700 units have voted to be part of NYCHA's Preservation Trust pipeline, which retains NYCHA management while converting to Section 8.
"NYCHA will leverage private-sector partners which will lead to the development and expansion of deeply affordable housing," said Deputy Mayor Adolfo Carrion in a statement.
"Returning to its roots as a public developer, NYCHA must leverage available assets to serve current public housing residents while creating more affordable housing opportunities citywide," added NYCHA Chair Jamie Rubi
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