The U.S. Department of Housing and Urban Development has chosen the White Plains Housing Authority to participate in a demonstration project to allow the rehabilitation of the 90-unit Lakeview complex with private financing.
The authority is one of four New York State housing authorities chosen to participate in the competitive Rental Assistance Demonstration, which HUD said will be used to preserve tens of thousands of public and HUD-assisted units.
The program makes it easier for the authority to attract private capital by changing the financing structure of the complex from a traditional public housing project to a project-based Section 8 building.
The White Plains Housing Authority plans to convert Lakeview, which was built in the early 1970s, from a family to a senior facility.
“We want to make sure that it is reconstructed to make sure that it is ADA compliant,” said Mack Carter, the executive director and CEO of the authority.
HUD estimates that the nation’s 1.2 million public housing units need nearly $26 billion in maintenance and repairs.