Boulevard Together: Renovating 1,673 NYCHA Apartments in East New York

At a Glance

• 1,673 NYCHA apartments across 29 buildings in three East New York developments — Boulevard Houses, Fiorentino Plaza, and Belmont-Sutter Area — undergoing comprehensive renovation.
• A joint venture of The Hudson Companies, Property Resources Corp., and Duvernay + Brooks, operating in partnership with NYCHA under the federal PACT/RAD program.
• $600 million in financing closed in January 2022, including a JPMorgan Chase/NYC Housing Development Corporation construction loan and up to $140 million in historic tax credit equity.
• Residents keep their public-housing rights and leases under PACT — this is a renovation and re-financing structure, not a conversion to market-rate housing.

What Is Boulevard Together?

Boulevard Together is the joint venture NYCHA designated to renovate and manage three East New York public housing developments — Boulevard Houses (built in the 1950s), Fiorentino Plaza (1970s), and Belmont-Sutter Area (1980s) — comprising 1,673 apartments across 29 buildings. The venture, a partnership of The Hudson Companies, Property Resources Corp., and Duvernay + Brooks, is carrying out the renovation through NYCHA’s Permanent Affordability Commitment Together (PACT) program, which uses the federal Rental Assistance Demonstration (RAD) to unlock private financing for public-housing repairs while keeping the developments permanently affordable and preserving residents’ existing rights and lease protections.

Boulevard Houses alone accounts for 1,441 of the portfolio’s units across 18 buildings, per Boulevard Together’s own program materials; the remaining 232 units are split between Fiorentino Plaza and Belmont-Sutter Area.

The 2022 Closing: $600 Million, a JPMorgan/HDC Construction Loan, and Historic Tax Credits

Boulevard Together closed $600 million in financing on January 11, 2022, for comprehensive renovations addressing decades of disinvestment: new kitchens and bathrooms in every apartment, building-envelope and roof work, elevator modernization, security upgrades, and site improvements including playgrounds, gardens, and outdoor gyms. The New York City Housing Development Corporation and JPMorgan Chase Bank provided the construction loan. Because Boulevard Houses and Fiorentino Plaza qualified for historic tax credits, Chase Community Development Banking committed up to $140 million in federal and state historic tax credit equity — a significant, non-debt piece of the capital stack.

“This transformational project will also provide local workforce and educational opportunities while maintaining resident protections and permanent affordability for generations to come,” Hudson Companies managing principal Aaron Koffman said at the closing. Peter Clements Architects is the project’s architect; Brooklyn-based CAMBA provides on-site social services, including adult literacy, GED preparation, and workforce training, alongside property management split between Lisa Management and PRC Management.

2026: More Financing, Four and a Half Years In

ACRIS shows a $203.6 million mortgage recorded in June 2026, naming Chase Community Equity and the NYC Housing Development Corporation, with NYCHA named as a partner on the borrowing entities. Separately, NYCHA’s own May 2026 authorizing resolution and HPD’s 2024 CAPER report put the program’s full comprehensive-repairs budget at $483 million — a different figure from the original $600 million financing closing, which this page discloses rather than attempts to reconcile. The two numbers may describe different things (a total financing package versus a repairs-specific budget line) or reflect a program revision over four years; Hush Street hasn’t found a source that explains the gap directly.

What’s clear is that capital is still moving on this project years after its splashy 2022 announcement — itself a useful data point for a program this large and this complex. See the ACRIS-verified financing detail on Hush Street’s 2155 Pitkin Avenue Deal record.

Timeline

Location

Boulevard Houses, Fiorentino Plaza, and Belmont-Sutter Area sit in East New York. View on Google Maps.

Sources

Sources: New York Real Estate Journal (2022 closing announcement); New York YIMBY; Boulevard Together (official program site); The Hudson Companies; NYC ACRIS property records; NYCHA and HPD public filings.

Hush Street Editorial

Hush Street Editorial researches and reports on the projects, permits, and physical changes reshaping Brooklyn — and, more broadly, New York City. Reporting draws on primary-source city records — Department of Buildings filings, land-use and planning applications, agency and community-board documents — verified and cross-checked against independent reporting where it exists. Coverage is continuously updated as new filings and decisions are recorded, and confirmed facts are distinguished from open questions.