About the Project
The Permanent Affordability Commitment Together (PACT) program will result in repairs to your unit and building, new property management and enhanced social services. Buildings that participate in the PACT program will be transferred will be managed by PACT NW Bronx and continue to be owned by NYCHA.
What is PACT?
Through PACT, developments will be included in the federal Rental Assistance Demonstration (RAD) and convert to new property management through a federally funded program called Project-Based Section 8. This unlocks new funding to renovate buildings and apartments, and makes sure that rents remain permanently affordable. More information is available on the NYCHA PACT Website.
Development Team
Our development team is led by four partners, who will create and implement a project plan based your feedback.
Omni New York LLC is a full-service real estate organization working to bring quality, well-managed affordable housing to historically underserved areas. The vertically integrated company is comprised of six operating businesses providing development, property management, maintenance, construction, security, and low-income housing tax-credit syndication. Since its modest beginnings in 2004 with two apartment buildings in the Bronx, Omni and its affiliates have acquired or developed more than 19,000 units in 95 properties across 15 states, with an aggregate transaction value of nearly $4 billion. Omni was ranked #18 in overall portfolio size in 2017 by Affordable Housing Finance Magazine.
The Arker Companies is one of the leading developers of affordable housing in New York having developed more than 11,200 affordable housing units for very low and low-income residents, including the acquisition and preservation of more than 6,250 units.
Dabar Development Partners is a developer and Minority- and Woman-Owned Business Enterprise (MWBE) with more than 15 years of experience in real estate investment and development, and a commitment to social impact and high-quality, carefully designed affordable housing. To date, Dabar has developed over 3,000 apartment units.
SBV RE Investments LLC is a privately held real estate development company established by Eugene Schneur, Robert Bennett, and Maurice Vaughn (“Principals”) in 2023. In the past 19 years, these three principals have owned, developed, and managed over 19,400 units of affordable housing in 15 states. Under this new development company, the principals will continue their history of developing affordable housing—specifically, as a part of the PACT UAC and PACT Northwest Bronx projects in addition to new developments in Florida and existing developments in New York City.
General Contractor
Renewal Chateau LLC
The General Contractor will oversee and complete all construction activities.
Property Management
Progressive Management of NY LLC
Progressive Management will be responsible for the day-to-day operations and management of the properties.