The NYC Housing Development Corporation (HDC) approved a $5.6 million loan that allowed WinnResidential and WHFA to purchase the mortgage note and take the property thought the foreclosure process with the ultimate aim of taking title, rehabbing the building and keeping rents affordable.
With a lengthy foreclosure process completed, WinnResidential and WHFA were able to take title to the property in February 2012 and began the extensive rehabilitation work that included installing new elevator cabs, bathroom and kitchen upgrades, new flooring and painting in each unit, replacement and upgrading of building mechanics including a new heating and ventilation system, electrical upgrades, installation of a new roof, new building doors, window repairs, upgrading of the lobby and common spaces, extensive masonry work, and installation of a closed circuit security system.
Leveraging the Internet: You Don't WHFA Retailer Resource Center
Overcoming Retailer Challenges WHFA Retailer Resource Center
All for One, One for All: WHFA Retailer Resource Center
Warehouse and Delivery Performance WHFA Retailer Resource Center
Forward Thinking Marketing Concepts WHFA Retailer Resource Center
Motivate and Persuade on a Budget WHFA Retailer Resource Center
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The award was presented during WHFA
's annual conference and trade show held last week in Scottsdale, Ariz.
gave its 2000 Western Retailer of the Year award to Bruce McEachran, president of Burgans Furniture in Spokane, Wash.
For more information, contact the WHFA
office at (916) 784-7677.