Catholic Charities of Brooklyn and Queens is among the largest social services agencies in New York City. Progress of Peoples Development Corporation ( “POP”), Catholic Charities’ low-income housing arm, is the largest Catholic housing corporation in the United States. POP owns and operates more than 3,000 low-income housing units in the adjacent boroughs of Brooklyn and Queens.
Construction Technology Corporation was the Project Manager/Construction Manager for the modernization of ten POP properties comprising over 1,000 housing units. As such, CTC managed the planning, design and construction of this ambitious two-year capital improvement program.
POP’s capital improvement program comprises: building enclosure improvements (i.e., window replacements, masonry repairs and repointing, roof repairs and replacements, and building waterproofing); mechanical and electrical upgrades (i.e., boiler replacements, plumbing and electrical repairs, and fire alarm work); and lobby and corridor renovations (i.e., new entrances, ceilings, wall coverings, flooring and lighting).
This approximate $15 million capital improvement program was a key component of POP’s $100 million refinance of the existing HUD mortgages through the sale of tax-exempt bonds issued by the New York City Housing Development Corporation. CTC is a critical member of POP’s program team comprising many prominent investment bankers, commercial bankers, law firms, public accounting firms, government agencies and other specialty consultants.