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Leader 🦁, Advocate ✊🏾, NYC Realtor® 👨🏾💼🏠 serving Manhattan🗽and the surrounding markets 🌉

New York City Hall, in collaboration with the Department of Housing Preservation and Development (HPD) and the New York City Housing Authority (NYCHA), announced plans to prepare an Environmental Impact Statement (EIS) for the Fulton Elliott-Chelsea renovation project in Manhattan. This ambitious project focuses on reconstructing four NYCHA housing developments: Chelsea, Chelsea Addition, Elliott, and Fulton Houses, all situated in the Chelsea neighborhood. The initiative aims to address the housing needs of approximately 4,410 residents across two campuses separated by a quarter mile. The Fulton Elliott-Chelsea renovation project includes the phased demolition of existing residential units and public spaces, followed by the construction of new mixed-use buildings. These buildings will feature a mix of affordable and market-rate apartments, new public spaces, and retail facilities, including supermarkets. Additionally, the project proposes the enhancement of public facilities space managed by Hudson Guild and the addition of parking spaces. Central to the project's execution are two potential paths: the "Rezoning Alternative" and the "No Rezoning Alternative." These options will be thoroughly examined in the EIS to determine their impacts and viability. Through NYCHA's PACT program, the project will transition Section 9 housing subsidies to Section 8 Project-Based Vouchers (PBV) via the Rental Assistance Demonstration (RAD) and Title 18 USHA. NYCHA plans to enter a long-term lease with Elliott Fulton LLC and Essence Development or their affiliates for the project land, necessitating an environmental permit and EIS due to HUD's involvement. This project has sparked open discussions and opportunities for public and stakeholder feedback, emphasizing community engagement in the redevelopment process. The Fulton Elliott-Chelsea renovation project is set to be a significant undertaking, aiming for completion by 2040, with a focus on enhancing living conditions, modernizing facilities, and fostering community development in Manhattan's Chelsea neighborhood. #FultonElliottChelsea #NYCHA #ManhattanRenovation #NYCHousing #EIS #UrbanDevelopment #AffordableHousing #CommunityEngagement #PACTprogram #NYCDevelopment Contact me to discuss the latest scoop in real estate! #manhattanrealtor #brooklynrealtor #queensrealtor #bronxrealtor #westchesterrealtor #nyrealtor #nycrealtor #realtist #nyrealestate #douglasellimannewyork

subsidized housing in New York will be updated

subsidized housing in New York will be updated

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