Partnership Development: Rehabilitation to preserve NYC’s fast-eroding stock of affordable housing

CHV partnered with Stellar Management to purchase and rehabilitate Castleton Park, a 40-year-old housing complex on Staten Island consisting of two buildings. CHV and Stellar committed to Castleton Park’s long-term affordability and invested $30 million to renovate the aging property. The rehabilitation work included new roofs, apartment windows, apartment kitchens, apartment bathrooms, public corridor repairs, new elevators, new boilers, façade repairs, garage waterproofing, new landscaping, and new children’s play areas.