We are proud to announce the closing of a $275 million PACT Modernization Project for Sack Wern Houses in the Bronx, alongside our partners at Asland Capital Partners, Breaking Ground (NYC Permanent Supportive Housing), and New York City Housing Authority (NYCHA). We have had the privilege of spending time with the Sack Wern residents since being entrusted with this project, learning about their needs and preferences to make the community stronger. In particular, our team formed a wonderful working relationship with Resident Association President, Loretta Masterson. We share her enthusiasm for the project and look forward to working together in the coming years. “The PACT conversion for Sack Wern Houses has really been a good experience,” said Sack Wern Resident Association President Loretta Masterson. “The PACT partner team that we worked with was amazing. They listened to what we had to say about what had been going wrong at the development and worked to make things better. We look forward to the transformation with the new management.” Modernization of Sack Wern will include fully rehabilitating 411 apartments, as well as shared spaces, grounds, and building infrastructure, to improve resident quality of life.
Today we announced the closing on the financing for Sack Wern Houses, a $275 million PACT project! This closing will bring comprehensive renovations to nearly 800 residents living in over 400 apartments across seven buildings in the Soundview neighborhood of the Bronx. “Sack Wern residents have advocated for their community needs, and we look forward to seeing the PACT partner team provide $275 million in investments for this community,” said EVP for NYCHA Real Estate Development Jonathan Gouveia Congratulations to all of our residents and PACT partners for reaching this milestone! Douglaston Development Asland Capital Partners Breaking Ground (NYC Permanent Supportive Housing) Clinton Management BronxWorks To read the full press release, click below:
