NYCHA and PACT Partners, led by Fairstead and BRP Companies, Celebrate Completion of $636 Million Renovation of 1,696 Homes at Reid & Park Rock
Rehabilitation by Fairstead, BRP Companies, Urbane, and LDC of East New York, in partnership with NYCHA, NYC HDC, The
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Rehabilitation by Fairstead, BRP Companies, Urbane, and LDC of East New York, in partnership with NYCHA, NYC HDC, The Vistria Group, and Merchants, modernized 1,696 homes across 87 buildings
Comprehensive renovations and expanded resident services are benefiting nearly 3,000 residents
NEW YORK, Oct. 16, 2026 (GLOBE NEWSWIRE) — The New York City Housing Authority (NYCHA) and Reid Park Rock PACT Partners, which includes Fairstead, BRP Companies, Urbane and the Local Development Corporation of East New York (LDCENY), today were joined by residents and elected officials at a ribbon-cutting ceremony marking the completion of the $636 million rehabilitation of Reid & Park Rock homes in East Brooklyn.
Renovations at Reid & Park Rock, formerly the Reid Apartments and Park Rock Consolidated developments, were completed through Permanent Affordability Commitment Together (PACT) program. The rehabilitation modernized 1,696 affordable homes across 87 buildings, delivering interior and exterior apartment upgrades, building system improvements, enhanced security measures and expanded resident services for nearly 3,000 residents.
“Congratulations to the nearly 3,000 New Yorkers who live at the Reid & Park Rock buildings, who now have fully renovated homes with structural improvements to their buildings and common spaces! This work has been shaped by resident input and will continue to benefit residents for decades to come. My thanks to the resident leaders, PACT partners, and NYCHA team who made this transformation possible,” said Leila Bozorg, Deputy Mayor for Housing and Planning.
The preservation and modernization project delivered significant upgrades to every apartment and common area throughout the 15 NYCHA developments that make up Reid & Park Rock. Renovations included upgraded kitchens and bathrooms, new floors, appliances, fixtures and finishes, modernized mechanical systems including heating and ventilation, restored building facades, enhanced security infrastructure and access control, improved lighting, elevator upgrades and accessibility improvements.
The project also introduced upgraded lobbies and common areas, new storefronts, new community spaces, free community-wide Wi-Fi, and extensive site, landscaping and outdoor amenity improvements designed to foster connectivity and improve overall resident well-being.
“The completion of Reid & Park Rock represents a major investment in the homes, communities, and quality of life for nearly 3,000 NYCHA residents,” said NYCHA Chief Executive Officer Lisa Bova-Hiatt. “Through PACT, we are delivering modernized homes, improving building systems, and expanding services that help residents and families thrive. This milestone reflects what is possible when NYCHA works hand in hand with residents and dedicated partners to make lasting improvements across our communities. We thank Fairstead, BRP Companies, Urbane, LDCENY, and of course, the resident associations under the Reid & Park Rock banner, for their collaboration and partnership in delivering these critical improvements for so many NYCHA residents in Brooklyn.”
“The $636 million rehabilitation of Reid & Park Rock is an impressive achievement in the scale and breadth of improvements delivered through NYCHA’s PACT program,” said NYCHA Executive Vice President and Chief Real Estate Officer Heather Beck. “Across 15 developments, comprised of 87 buildings, the project modernized 1,696 homes while upgrading critical building systems and facades, security infrastructure, and accessibility features. Residents are also benefiting from improved common areas, community spaces and storefronts, free community-wide Wi-Fi, outdoor amenities, expanded social services shaped by resident priorities, and capacity-building for resident leaders. This project has again demonstrated how comprehensive investments through the PACT program can strengthen not just the buildings but the long-term well-being of the people who call them home.”
“Today’s ribbon cutting ceremony represents a critical milestone in our ongoing mission to preserve New York City’s public housing stock,” said New York City Housing Development Corporation President Eric Enderlin. “HDC is proud to have collaborated with our PACT partners and the residents of Reid & Park Rock to deliver comprehensive renovations and campus-wide improvements – all while safeguarding the permanent affordability of every home.”
In addition to the physical improvements, residents now have access to expanded support services through a partnership with Black Veterans for Social Justice (BVSJ), which offers case management support and connects families to resources including healthy food programs, workforce development opportunities, youth programming and senior services. BVSJ was selected by Reid & Park Rock resident leaders, making Reid & Park Rock the first PACT project to reach completion where the social service provider was chosen by residents themselves.
Furthermore, the Central Brooklyn EDC equipped resident leaders at all 15 developments with capacity-building and leadership training, strengthening Tenant Associations’ ability to raise funds, host community events, and deliver services to residents.
“The completion of Reid Park Rock’s renovation demonstrates what is possible when all stakeholders work together with a shared vision and commitment to preservation,” said Fairstead CEO Jeffrey Goldberg. “Today marks not only the completion of a $636 million rehabilitation effort, but the beginning of a new chapter for nearly 3,000 residents. Reid Park Rock sets the standard for what preservation should deliver: quality homes, real service, exceptional property management and affordability for the long-term.”
“Reid Park Rock exemplifies the impact that can be achieved through thoughtful investment, strong partnerships and a resident-centered approach,” said BRP Companies Managing Director of Development, Andy Cohen. “BRP is proud to have helped advance this complex preservation effort spanning 1,696 homes and 87 buildings, reflecting the strength of the partnership and our shared commitment to enhancing quality of life, preserving affordability and supporting the Reid Park Rock community for generations to come.”
“This neighborhood is our home. For us at LDC of East New York, positively impacting the lives of the thousands of residents who live in Reid Park Rock is what this work is all about. We are committed to East New York and look forward to continuing to serve this community in the years to come,” said Bill Wilkins, Executive Director and CEO of the Local Development Corporation of East New York.
“Projects like Reid Park Rock show the importance of pairing physical revitalization with investments that strengthen communities and expand opportunity,” said Urbane Senior Vice President of Place-Based Development Naim Brown. “We are proud to support a redevelopment that puts residents at the center and creates a stronger foundation for the neighborhood’s future.”
“Ocean Hill Brownsville is a community rich in history, resilience, and generations of families who deserve continued investment in the development we call home. This ribbon cutting represents what is possible when residents are heard, our community is valued, and improvements are made with our quality of life and future in mind. We look forward to continuing to advocate for meaningful progress that includes, respects, and represents our residents every step of the way,” said Shamica Moore, Ocean Hill Brownsville Resident Association President.
“These renovations are more than just new paint, updated facilities, and modernized infrastructure. They represent an investment in our community’s future and our quality of life. They create a safer, healthier, and more beautiful environment where our children can thrive, our seniors can live comfortably, and our families gather with pride,” said Kayereathea Boyd, Sterling, Buffalo, Saint Johns Development Tenant Association President.
“Howard Avenue Rehab is never alone. We thrive together and that’s what makes us strong,” said Ms. Davis, Howard Avenue Tenant Association President.
“Today is a proud day for Reid Park Rock and for every family who calls it home. As president of our tenant association, I have the honor of speaking for my neighbors, and I’m proud to say this community has long deserved every part of what we’re celebrating. Seeing our voices reflected in these homes makes me prouder than I can say,” said Myra Solomon, Howard Ave-Park Place Tenant Association President.
“Empowerment begins when we stop asking what our community lacks and start recognizing the strength, talent, and potential that already lives within. When we work together, we don’t just create change, we create opportunity, hope and a strong future for generations to come,” said Ms. Young, Tapscott Rehab Tenant Association President.
The redevelopment of Reid & Park Rock was made possible through NYCHA’s PACT program, which transitions NYCHA developments from traditional Section 9 assistance to Project-Based Section 8, unlocking funding for resident-selected PACT partners to complete comprehensive repairs or build new, modern homes while enhancing property management. While the conversion unlocks and allocates critical financing to make much-needed infrastructural improvements, it also preserves residents’ rights and ensures the long-term affordability of their homes.
The rehabilitation was undertaken by Reid Park Rock PACT Partners, a partnership of Fairstead, BRP Companies, LDCENY and Urbane. Fairstead served as co-developer, general contractor and property manager; BRP Companies served as co-developer; Urbane served as co-developer and community partner; and LDCENY served as community partner.
Financing for the project was provided through a combination of public and private sources, including support from the New York City Housing Development Corporation (HDC), which serves as a key financing partner for PACT transactions citywide. Equity capital was provided by The Vistria Group, a middle market private investment firm with deep sector expertise across essential industries, while Merchants Capital served as a financial partner for the transaction.
“Reid & Park Rock shows what thoughtful investment and strong public-private partnership can accomplish for residents,” said Deval Patrick, Senior Partner at The Vistria Group. “This project has improved the quality of nearly 1,700 homes while preserving their long-term affordability. We are proud to have worked alongside NYCHA, our development partners and resident leaders to help deliver lasting improvements for this community.”
Reid Park Rock is one of the most ambitious affordable housing preservation efforts completed through NYCHA’s PACT program to date. The project demonstrates how targeted investment, collaborative investment, strong property management and resident-centered services can transform aging public housing communities while preserving long-term affordability for current and future generations of New Yorkers. In addition, the rehabilitation has received Enterprise Green Communities certification across all 15 developments, a testament to the partners’ commitment to sustainability.
Developments included in Reid & Park Rock comprise nearly 1,700 apartments at 15 NYCHA developments in East Brooklyn.
Consolidated under the Reid Apartments banner: 104-14 Tapscott Street, Fenimore-Lefferts, Lenox Road-Rockaway Parkway, Ralph Avenue Rehab, Reid Apartments, Rutland Towers, Sutter Avenue-Union Street and Tapscott Street Rehab.
From the Park Rock Consolidated bundle: Crown Heights, Howard Avenue, Howard Avenue-Park Place, Ocean Hill-Brownsville, Park Rock Rehab, Sterling Place Rehabs (Saint Johns-Sterling) and Sterling Place Rehabs (Sterling-Buffalo).
For more information about Reid & Park Rock, visit reidparkrock.com.
About the New York City Housing Authority (NYCHA)
The New York City Housing Authority (NYCHA), the largest public housing authority in North America, was created in 1934 to provide decent, affordable housing for low- and moderate-income New Yorkers. NYCHA is home to 1 in 16 New Yorkers, providing affordable housing to 511,384 authorized residents through public housing and Permanent Affordability Commitment Together (PACT) programs as well as Section 8 housing. NYCHA has 177,565 apartments in 2,410 buildings across 335 conventional public housing and PACT developments. In addition, NYCHA connects residents to critical programs and services from external and internal partners, with a focus on economic opportunity, youth, seniors, and social services. With a housing stock that spans all five boroughs, NYCHA is a city within a city.
About Fairstead
Fairstead is a purpose-driven real estate firm dedicated to building affordable communities across the country. Fairstead’s commitment to communities is realized through a comprehensive platform that leverages in-house expertise in acquisitions, development, construction, asset management, and property management. Headquartered in New York, with regional headquarters in Colorado, Florida, and Washington, D.C., Fairstead owns and manages 30,000 apartments across 28 states, including 7,000 units in New York City. For more information, visit www.fairstead.com.
About BRP Companies
BRP Companies is a New York-based real estate firm that is at the forefront of mixed-use development and acquisition of urban, multi-family properties. The firm offers a full complement of development, acquisition, construction, property, and investment management. With an experienced staff of 70, a $6.7 billion portfolio and a total portfolio of 15.7 million square feet of planned, current and completed development, BRP is uniquely positioned to meet the demands of urban housing consumers. The firm is an innovator in developing mixed-use, mixed-income, “walkable” urban housing with high-quality, and energy efficient properties throughout the city of New York and beyond. Please visit: www.brpcompanies.com
About Urbane
Urbane is a Black-owned community development and investment firm focused on building community wealth through place-based development, resident engagement, and economic empowerment initiatives. Through partnerships with public agencies, developers, and community organizations, Urbane works to advance equitable neighborhood revitalization and create opportunities for residents and local businesses.
About the Local Development Corporation of East New York (LDCENY)
The Local Development Corporation of East New York (LDCENY) is a nonprofit community development organization that has served East Brooklyn for more than 46 years. LDCENY advances economic mobility, housing stability, workforce development, entrepreneurship, and neighborhood revitalization throughout East New York and surrounding communities. The organization has played a significant role in shaping the economic landscape of East Brooklyn and continues to empower residents through programs that promote economic self-sufficiency and community investment.
MEDIA CONTACT:
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