NYCHA PACT Northwest Bronx (Bronx, NY)

Overview

In a joint venture with The Arker Companies, an affiliate of Omni New York, and Dabar Development Partners, SBV and its partners are undertaking an in-place rehabilitation of 1,669 units across eight properties in the Bronx, New York. The Northwest Bronx PACT project consists of walk-up, mid-rise, and high-rise residential buildings that require significant recapitalization and rehabilitation.

Through the RAD conversion program, SBV and its partners are focused on delivering substantial improvements to the properties through comprehensive renovations, enhanced property management, and the implementation of a robust, long-term social services program. The 24-month in-place rehabilitation will include unit renovations featuring new kitchens and bathrooms, upgrades to building infrastructure and amenities, remediation of lead and asbestos hazards, implementation of enhanced security measures, and the development of a social services program tailored to the specific needs of the Northwest Bronx community.

The total estimated cost to recapitalize and rehabilitate the portfolio is approximately $519 million, or roughly $311,000 per unit. Construction commenced in July 2025, with anticipated completion in June 2027.