Low-Income Building Needs Assesment
Facilities Needs Assessment
Predatory equity is a phenomenon happening in New York and other major cities in which investors purchase distressed low-income housing with the expectation that they will turn a high profit in a short amount of time. The only way these landlords can produce profit from these distressed buildings is to find a way to evict low-income tenants from their homes so that they can raise rents to produce more income. Tenants in New York are trying desperately to fight this trend, which often means fighting tactics of unlawful evictions, harrassment, and lack of services.
To better fight predatory equity, UHAB needs the assistance of an engineer who can examine some distressed buildings in the Bronx. The particular portfolio we are concerned about is on the verge of being re-overleveraged by a new, potential slumlord for the THIRD time! With an independent engineer we can move quickly on assessing the buildings' needs and hold the new incoming owner accountable to making necessary capital improvements.
1585 East 172 Street is a featured building in this recent NY Times article. It is one of 6 buildings in this particularly distressed building portfolio. Inside the article is a bit more information about the buildings. http://www.nytimes.com/2010/08/06/nyregion/06distressed.html?_r=1&ref=ny....
Please do get in touch if you are an engineer or can point us in the right direction!
As soon as possible!