Community Service Society gets $197,500 HUD grant - Housing and Urban Development

Real Estate Weekly, Dec 16, 1992

The Community Service Society of New York will use a $197,500 grant from the United States Department of Housing and Urban Development to develop New York City's first Mutual Housing Trust an innovative model for acquiring, restoring and preserving affordable low income multi-family housing.

The one-year grant will fund resident organizing, homeownership counseling, property management training. technical assistance in forming local mutual housing associations, and the preparation of construction cost estimates for rehabilitating the Trust's first 10 buildings.

The buildings, which contain 270 apartments, are located in neighborhoods within Central Harlem, Northern Manhattan, and Brooklyn's Oceanhill-Brownsville section. After the project is completed, residents will control the day-to-day affairs, management and security of their buildings.