Adler details scope of gut rehab and building improvements
Adler describes the total gut rehab including new building systems, electrification, roof and window replacement, security upgrades, code compliance, and accessibility improvements such as elevators for the aging population in the Convent Avenue buildings. She notes residents provided feedback on designs.
Next slide, please.
So what does ANCP actually entail for the buildings?
It's a total gut rehab.
That means new building systems and in this case, electrification scopes.
That's MEP, that's HVAC, that's everything you think of that goes into a building system and its envelope.
It's a repair and replacement of the roofs, the windows, the bulkheads, the supports in the basement, modernizing security, doorbell, fire safety, mail, other systems.
As said before, we're adding supers to these buildings, live-in.
It brings the buildings and apartments up to code because the...
Very few apartments in this cluster because of when it was built are actually up to code right now.
You have railroads, you have railroad apartments across the board.
You have many bedrooms that either don't receive natural light or are just very small.
There are also accessibility improvements.
There is a significant aging population in the two convent buildings.
They'll be receiving elevators to ensure that they can continue to live there without issues.
And as mentioned before, there are the cooperative success trainings.
Heading into the stage of the project that we are at, residents were also provided the opportunity to look over the designs for what their buildings were going to be.
They provided a lot of feedback.
In some cases, designs were changed as a result to...
To adjust for the needs of certain building populations, whether that was more accessibility or whether that was larger family sizes.
Why do we need a total gut rehab?
The money spent now to do this pays off over time by reducing future maintenance, repair, and operating costs so that these buildings are in good condition and so that the buildings don't have to dip heavily into operating reserves.
This would be the case regardless of whether this goes to homeownership or if there was a rental fallback scenario, if the city kept it in rental state.