Real Estate Weekly – Firms Partner to Buy, Rehab Mitchell – Lama Housing

Hudson Valley Property Group and Phoenix Realty Group (PRG) have partnered to acquire, renovate and preserve 612 units of formerly at-risk Mitchell-Lama workforce housing apartments in the Bronx, New York, Keith Plaza and Kelly Towers. Keith Plaza is one of the first four preservation projects in the nation utilizing the Rental Assistance Demonstration (RAD) program, which included the issuance of a new, 20-year Section 8 Project-Based Rental Assistance (PBRA) contract.

This is an excerpt of the article “Firms Partner to Buy, Rehab Mitchell-Lama Housing” which appeared in Real Estate Weekly on March 16, 2016.