Wavecrest Management will handle daily operations, including residents' maintenance and repair requests.
NYCHA closed financing on November 5, 2026, for renovations covering 360 apartments and more than 650 residents on Manhattan's Lower East Side.
Plans for Seward Park Extension include new kitchens and bathrooms, combination washer-dryers and heat pumps for heating and cooling. Building work includes replacement plumbing and lifts to improve accessibility.
The development has converted to Project-Based Section 8, a form of rental assistance, through NYCHA's Permanent Affordability Commitment Together program, known as PACT. The agency says the program preserves affordable rents and residents' rights.
Grand Street Settlement will continue operating the community center, which is slated for upgrades. Catholic Charities will provide additional services from a new on-site office. NYCHA expects construction to finish by the end of 2029.
