IMPACCT Brooklyn is taking a huge step to preserve affordable housing throughout our borough.
IMPACCT Brooklyn is a founding member of the Joint Ownership Entity (the JOE), an organization formed by several Community Development Corporations (CDCs) that allows us to preserve affordable housing. Over the past year we worked alongside fellow JOE members (St. Nick’s Alliance, Bridge Street Development Corp., and Bedford Stuyvestant Restoration Corporation) to ensure existing buildings receive quality treatment and system-wide rehabilitation, while remaining affordable.
A total of 524 apartments in 87 buildings will benefit from system-level rehabilitations such as boiler replacement, façade repair, roof repair, and the installment of solar arrays on select buildings. Of these properties, IMPACCT Brooklyn has contributed 18 buildings, or 135 apartments and 8 commercial spaces, to the JOE. These buildings are being upgraded while maintaining affordability through support from the City of New York Department of Housing Preservation and Development (HPD), the NYC Housing Development Corporation (HDC), and the Community Preservation Corporation (CPC).
What does this mean for affordable housing in Brooklyn?
The JOE allows longstanding community-based organizations to use their collective power to preserve much needed affordable housing in neighborhoods that are most in need. This will result in building improvements and long-term affordability for residents.
What does this mean for residents, or people looking for affordable housing?
IMPACCT Brooklyn is a member of, and has ownership in, the JOE. As of July 1, 2019, the properties listed here are now owned by JOE Central Brooklyn, LLC.
Current leases will not change, but new leases will be listed under JOE Central Brooklyn, LLC. Tenants can expect the same rights and obligations they had before, and current property management will continue as is.
Affordability will be maintained and guaranteed for several decades. There will also be units, upon vacancy, provided for the persons living with homelessness.
The construction will be broken down into smaller phases and clusters, and is expected to take between eighteen and twenty-four months. There will be minor interference to the tenants (such as scaffolding) as most of the upgrades will be to the roof, façade, and boiler.
Click here to watch a brief video about JOE NYC.
Click here to learn more about JOE NYC.
IMPACCT Brooklyn counts on the generosity of caring people like you to ensure we have the resources to help as many of our neighbors as possible. Donate today to support our vision of an economic, racial, and cultural diverse Brooklyn.
