NEW YORK CITY—The City of New York is investing $200 million to replace boilers and upgrade heating systems at 20 NYCHA developments. This will alleviate chronic outages affecting the supply of heat and hot water.
The renovations are scheduled to be completed by 2022 to benefit approximately 45,000 residents. The city estimates the upgrades will save approximately $5 million per year in energy costs.
With this latest investment, Mayor Bill de Blasio's commitment to NYCHA's capital infrastructure totals $2.1 billion slated for 2014 to 2027 and $1.6 billion for Housing Authority operations from 2014 to 2022. This includes fixing more than 900 roofs, repairing deteriorating brickwork at nearly 400 buildings and improving security at 15 NYCHA developments.
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Betsy Kim
Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.
