S:US Receives Grant to Rehabilitate Over 300 Supported Housing Units
Trinity Church Wall Street’s Housing and Homelessness Initiative seeks to break the cycle of mass homelessness and housing instability in New York City. This initiative advances Trinity Church’s mission priority to build up the neighborhood by advocating for New Yorkers who find themselves in shelters or who are on the brink of losing their housing.
At S:US, housing is at the core of what we do. Supported housing has been called “the most successful existing model for ending chronic homelessness among vulnerable populations,” according to a recent NYC Council report.
While we are increasing the supported housing units in our development pipeline, we are also committed to keeping the existing units in our portfolio in the best condition possible. The grant from Trinity Church Wall Street will help S:US launch pre-development work for a project that will rehabilitate and preserve 306 supported housing units in eight of our buildings in Brooklyn and Queens. All were constructed during the 20th century (four were built prior to 1932) and all are in dire need of extensive rehabilitation.
This new rehabilitation project will protect the stability of the buildings and the residents who live within them. Many of our residents are part of vulnerable populations most at-risk of homelessness, such as people of color, veterans, survivors of domestic violence, people with mental illness and substance use challenges, people with intellectual/developmental disabilities, and people living with HIV/AIDS. Without new funding for capital repairs and restructured rental streams, these buildings would slowly deteriorate and this valuable housing would be threatened.
All 306 units are either studio apartments or Single Room Occupancy units – many of which are decades old and in need of refurbishing. Each unit will be completely transformed with new energy efficient kitchens and bathrooms, 350 to 400 square feet of living space, new floors, windows, and paint. We also plan to renovate the common areas such as laundry, offices, and recreation rooms. The project is currently in the early stages of pre-development, which will continue through 2021. Ground breaking is estimated to commence January 2022, shortly after the anticipated construction closing in December 2021. Estimated project timeline is 36 months.
This project will complement our past work by building upon the foundation of our efforts to preserve and create supported and affordable housing throughout New York City. This new 306 unit project utilizes a creative approach to project financing and expands on our existing capacity for preservation. We plan to utilize Low Income Housing Tax Credits and subsidy through State and City loan programs. This creative approach will help preserve supported housing units at a time when our City is in desperate need of them.
Preserving these 306 units as supported housing for years to come in gentrifying neighborhoods also protects the properties and residents from future market forces that drive displacement and place further economic burdens on vulnerable communities. By preserving units and protecting residents, we’re able to provide quality homes and supportive services to the communities we serve – giving people the tools they need to stay in their homes and live stable, fulfilling lives.
Even before COVID-19, nearly 80,000 people lived in New York City shelters. We are now facing a deepening homelessness crisis as a result of the new health and economic crises created by COVID-19. As part of the effort to house our most vulnerable citizens, S:US develops and operates housing for low- income households for whom circumstances have left them in need of a stable home. On any given night last year, S:US provided housing and shelter to more than 4,500 people.
We envision a city where everyone has a roof over their head and an equal opportunity for a productive life. By addressing the complex circumstances of each individual, we change lives, improve neighborhoods, and help break the cycle of poverty for future generations of New Yorkers.
- Click here to learn more about our Housing Portfolio.