PACT Renaissance Collaborative is an in-place rehabilitation of 1,718 public housing units within 41 buildings located throughout Manhattan as part of NYCHA’s Permanent Affordability Commitment (PACT) initiative.  Lemor along with developer, not-for-profit and institutional investor partners are implementing a scope of work that includes replacement of kitchens and bathrooms, building systems, including HVAC and elevators, energy efficiency measures, landscaping and building façade improvements.

PACT Renaissance Collaborative financing partners included HDC, Wells Fargo, Fannie Mae and NYCHA to finance $271MM in construction costs.  The NYCHA PACT initiative ensures the public housing units remain under NYCHA ownership and remain permanently affordable under NYCHA’s guidelines, with tenants continuing to pay 30% of their income toward rent.  Construction is underway and is anticipated to be completed in 2023.