New York City Public Housing Preservation Trust

What New York City Public Housing Preservation Trust does

The New York City Public Housing Preservation Trust is a New York State government agency established by legislation signed by Governor Kathy Hochul on June 16, 2022. It modernizes New York City Housing Authority (NYCHA) public housing developments while keeping the housing 100% public, converting properties from Section 9 to Project-Based Section 8 under the federal Rental Assistance Demonstration (RAD) program. The conversion mechanism unlocks approximately double the per-apartment federal subsidy NYCHA previously received, enabling comprehensive renovations including plumbing, heating, electrical, kitchens, bathrooms, accessibility upgrades, and fire protection. NYCHA remains the permanent landowner and property manager; the Trust finances the capital work through bond issuance and federal subsidy drawdown.

The Trust's core product is the Trust Modernization (TrustMod) Program, delivered through Progressive Design-Build (PDB) and traditional Design-Build project delivery methods. It procures design-build partners, contractors, and consultants via its Bonfire procurement portal. Four developments have voted to join the Trust as of April 2025: Nostrand Houses (December 2023, ~$400M project), Bronx River Addition (April 2024, 226 units), Unity Towers (August 2024, 193 units), and Hylan Houses (April 2025, 209 units). Hylan Houses represents the first PDB deployment at a NYCHA property under a contract with Technico Construction Services approved June 10, 2026. The Trust also operates dedicated engagement offices at each site and runs resident design workshops, priority surveys, and ongoing governance forums. Residents continue paying 30% of adjusted gross household income toward rent.

The Trust addresses a stated $78 billion capital need across NYCHA's portfolio, with a legislative target of 25,000 apartments for modernization. Its business model is government capital deployment rather than commercial revenue generation: funding flows through Project-Based Section 8 federal subsidies and municipal-style bond issuance. Customer segments are NYCHA residents (primary) and NYCHA itself (the permanent owner), served through a community-led, event-driven go-to-market motion built around resident votes, design workshops, and procurement events. No private equity, venture capital, or corporate parent is involved; ownership and governance are entirely public.

Name

New York City Public Housing Preservation Trust

Legal name

New York City Public Housing Preservation Trust

Website

https://preservationtrust.org

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

1–10 employees

Short description

The New York City Public Housing Preservation Trust is a New York State government agency that modernizes NYCHA public housing developments via RAD/Project-Based Section 8 conversion, keeping the housing 100% public. It finances comprehensive renovations through federal subsidies and bond issuance across four voted-in developments, with NYCHA retaining permanent ownership.

Ownership category

akta.pro rank

Product category

Public Housing Preservation Services

NAICS

Residential Remodelers (236118), Residential Building Construction (2361), New Multifamily Housing Construction (except For-Sale Builders) (236116), Lessors of Residential Buildings and Dwellings (53111)

SIC

General Bldg Contractors - Residential Bldgs (1520), Operative Builders (1531), Real Estate (6500), Non-Operating Establishments (9995)

akta.pro industry

PRIMARYBPAIANAA

Public & Affordable Housing Programs (Subsidies, Vouchers, Public Housing)

Business & Public Services/Public Sector & Government Administration/Housing, Urban Planning & Community Development

SECONDARYHSAPAEAG

Historic Home Renovation & Preservation

Home & Personal Services/Residential Renovation Services/Whole-Home Renovation & Remodel

SECONDARYBPAIACAJ

Housing & Neighborhood Services (Local Housing Programs)

Business & Public Services/Public Sector & Government Administration/Local/Municipal Government Administration

Keywords

• Public housing modernization
• Affordable housing preservation
• Section 8 conversion
• Design-build construction
• Government housing agency

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D

Revenue model

1. Federal Subsidy (Project-Based Section 8): When the Trust and NYCHA enter into a long-term ground lease, their partnership unlocks a federal subsidy worth double what NYCHA currently receives per apartment. This enables comprehensive repairs and improved service delivery.
2. Bond Issuance: The Trust issues bonds to fund comprehensive building renovations, similar to how other government entities raise revenue for capital improvements and infrastructure like bridges and roads. NYCHA remains the permanent owner of the land and buildings.
3. Procurement Fees and Service Contracts: The Trust manages contracts for design-build, special inspections, legal services, financial advisory, social services, and other professional services to support its modernization program.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels7 records

Core offering

The New York City Public Housing Preservation Trust is a government agency that safeguards public housing as a sustainable foundation for community and opportunity. It comprehensively renovates and modernizes NYCHA public housing developments by converting properties from Section 9 to Project-Based Section 8 under HUD's Rental Assistance Demonstration (RAD) program, while NYCHA retains permanent ownership of the land and buildings.

Product overview

The New York City Public Housing Preservation Trust operates as a government agency offering a comprehensive public housing modernization program. The core offering is the TrustMod Program, which combines project delivery methods (Progressive Design-Build and Design-Build) with Section 8 conversion to fund comprehensive renovations. The Trust currently manages four development projects: Nostrand Houses (Brooklyn), Bronx River Addition (Bronx), Unity Towers (Brooklyn), and Hylan Houses (Brooklyn). Supporting services include resident engagement programs, lease package services for Section 8 conversion, and procurement services through the Bonfire portal. The Trust's portfolio spans approximately 1,100+ units across New York City, with projects at various phases from planning through construction.

Differentiator

Problem solved

Functional benefit

Products and services

• Trust Mod Program Comprehensive public housing renovation and modernization program that converts NYCHA properties from Section 9 to Project-Based Section 8 through HUD's RAD program, unlocking federal funding for repairs while NYCHA retains permanent ownership. Targeted at NYCHA residents in developments that have voted to join the Trust.
• Project-Based Section 8 Conversion Conversion service that transitions NYCHA public housing (Section 9) to Project-Based Section 8, unlocking federal subsidy worth double what NYCHA currently receives per apartment while maintaining permanent affordability and resident rights.
• Progressive Design-Build (PDB) Collaborative multi-phased project delivery method where the owner retains a design-builder early in the project lifecycle using a qualifications-based selection, then progresses toward design and construction contract pricing together, emphasizing transparency and partnership. Used for Trust modernization projects.
• Resident Engagement Services Comprehensive resident partnership services including information meetings, design workshops, Community Priorities Surveys, Resident Priorities Reports, engagement office hours, and resident advisory committees supporting Trust Mod projects.
• Procurement Services Trust procurement services including Request for Qualifications (RFQ), Request for Proposals (RFP), and Notice of Intent (NOI) processes, conducted through the Bonfire procurement portal for vendor registration and submissions across design-build, legal, financial advisory, and other professional service contracts.

Quantifiable outcome

• Unlocks federal subsidy worth double what NYCHA currently receives per apartment
• +3 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• Fifth Avenue Builders (FAB)coreStrategic or Co-development PartnerFifth Avenue Builders (FAB) has been selected as the Design-Build Team for the Bronx River Addition modernization project. FAB is a team of housing modernization experts with decades of experience. The Trust uses Design-Build project delivery where a single team is responsible for both design and construction of the renovation. FAB began resident engagement efforts in October 2025 as the selected design-build team.
• Technico Construction ServicescoreStrategic or Co-development PartnerTechnico Construction Services was contracted by the Trust to plan modernization of 209 apartments at Hylan Houses in Bushwick, Brooklyn. This contract represents the first use of progressive design-build project delivery at a NYCHA property. The contract was approved by the Trust Board on June 10, 2026.
• New York City Housing Authority (NYCHA)coreStrategic or Co-development PartnerNYCHA is the permanent owner of land and buildings at each Trust development. The Trust and NYCHA enter into long-term ground leases to unlock federal subsidy. NYCHA provides enhanced property management, security, and social services after Trust modernization. NYCHA workers (22% of whom are NYCHA residents) continue operating properties. The Trust was created in partnership with NYCHA to address $78 billion in needed repairs.
• CMG (Nostrand Design-Build Team)coreStrategic or Co-development PartnerCMG is the design-build team for Nostrand Houses, leading resident engagement, design workshops, and construction planning. CMG has been conducting resident engagement hours, design workshops, and update meetings at Nostrand Houses since 2025.
• HUD (U.S. Department of Housing and Urban Development)coreStrategic or Co-development PartnerThe Trust's program operates under HUD's Rental Assistance Demonstration (RAD) program, enabling conversion from Section 9 to Project-Based Section 8. HUD requires specific lease riders and family responsibility documents as part of the conversion process.

Scale indicators7 records

Recent moves7 records

Expansion highlights4 records

Others

• U.S. Department of Housing and Urban Development (HUD): HUD is the federal regulator that administers the RAD program and Project-Based Section 8 conversions on which the Trust's entire subsidy model depends. While not a peer in the operational sense, HUD is the most important institutional counterparty and policy gatekeeper for the Trust's business model.
• Council of Large Public Housing Authorities (CLPHA): CLPHA is an industry association representing the largest US public housing authorities including NYCHA. It serves as a coordination and advocacy body for the public housing preservation mission that the Trust operationalizes, and would be a key institutional stakeholder and potential model-replication conduit for the Trust's approach.

Emerging players

• Enterprise Community Partners: Enterprise is a national nonprofit that partners with public housing authorities on RAD conversions, preservation financing, and resident services. It provides complementary capacity (financing, technical assistance) to the same public housing preservation mission the Trust addresses, often partnering with or alongside entities like the Trust.
• Local Initiatives Support Corporation (LISC): LISC is a national CDFI and nonprofit that finances affordable housing preservation, including public housing RAD transactions, and supports resident-led development. Its preservation lending and capacity-building work directly parallels the Trust's mission of preserving public housing through structured financing and resident engagement.

Broad incumbents

• Chicago Housing Authority (CHA): CHA is a large municipal public housing authority that has undertaken major renovation and redevelopment programs (Plan for Transformation). It is comparable to the Trust/NYCHA model as a peer public housing authority facing similar capital backlog and modernization challenges in a major US city.
• NYC Department of Housing Preservation and Development (HPD): HPD is the broader NYC municipal housing agency responsible for affordable housing policy, preservation, and development citywide. The Trust sits within the HPD/NYCHA ecosystem and competes for the same affordable housing capital pool while serving overlapping resident populations.
• Philadelphia Housing Authority (PHA): PHA is a major municipal public housing authority that has grappled with capital backlogs and RAD/Section 8 conversions. It represents the same public-housing modernization mandate as the Trust/NYCHA and serves as a candidate replicator of the Trust model in another major city.
• Housing Authority of the City of Los Angeles (HACLA): HACLA is one of the largest US public housing authorities and operates RAD conversions and major renovation programs similar to the Trust's mission. It represents a comparable public-housing preservation entity in another major metro area facing capital backlog and modernization needs.

Direct peers

• New York City Housing Authority (NYCHA): NYCHA is the Trust's exclusive partner and permanent owner of all underlying land and buildings. While NYCHA itself is not a private company, it is the most directly comparable entity in terms of mission (preserving public housing), scale, and NYC operating geography, making it the primary counterparty in the Trust's operating model.
• New York City Housing Development Corporation (HDC): HDC is a NYC public benefit corporation that finances multifamily affordable housing through bond issuance and is the most operationally similar NYC entity to the Trust. Both issue bonds for affordable housing, work with NYCHA/related agencies, and deploy capital into residential preservation and new construction in NYC.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/phptrust
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/new-york-city-public-housing-preservation-trust

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about New York City Public Housing Preservation Trust